Turfmoor Park, home of Burnley Football Club. Photo: BackpagePix
Turfmoor Park, home of Burnley Football Club. Photo: BackpagePix

Burnley confirm talks over potential American takeover

By Reuters Time of article published Nov 12, 2020

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LONDON - Burnley are in talks with unspecified investors over a potential takeover, the Premier League club confirmed on Thursday.

American sports investment company ALK Capital LLC, which is headed by Alan Pace, who has a financial background on Wall Street and also includes a number of private investors, were linked with a takeover in September. Talks about a potential takeover is already at an advanced stage.

British media reported that the club were also subject to a £200 million ($263 million) bid from Egyptian businessman Mohamed El Kashashy and lawyer Chris Farnell last month.

The East Lancashire club, who are currently owned by British businessmen Mike Garlick and John Banaszkiewicz, assured supporters that the future of the club remains their primary concern and that any investment needed to support the club's long-term sustainability.

"In full respect of ongoing processes, the club will not be providing any further commentary on this matter until those discussions have reached a conclusion," Burnley said in a statement.

Last season Burnley, operating on one of the smallest budgets in the league, finished 10th but manager Sean Dyche has since lamented the club's lack of investment.

Burnley made just one notable signing in the close season, bringing in midfielder Dale Stephens from Brighton & Hove Albion, while Joe Hart, Jeff Hendrick and Aaron Lennon were all released.

Sean Dyche's side are winless in the Premier League this season and sit second-bottom with two points from seven games.

Reuters

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