Sean Dyche Set For Transfer Boost As American Based ALK Capital Complete Takeover Of Burnley: The American company has finally acquired 84% of the Premier League club
In the works for a long time, Burnley’s acquisition by USA based ALK Capital has finally come to fruition today. The club confirmed the latest development on the last day of 2020 with the American based company acquiring 84% control of the Premier League side.
The organisation which is located in Delaware deals in investments in sports and media sectors with the company previously investing in London based football technology firms – AiScout and Player LENS.
Alan Pace To Take Over As Club Chairman
The deal between the two parties will see ALK Capital’s managing partner, Alan Pace take over from current Burnley chairman, Mike Garlick. Garlick had previously held just a little less than 50% of the club.
“Garlick, alongside former shareholder John Banaszkiewicz, will remain on ALK Capital’s new board of directors at Burnley, ensuring a smooth transition to new ownership and providing valuable knowledge from his eight-year tenure as club chairman,” a statement confirming the acquisition said.
“This successful period has seen two promotions to the Premier League, development of the Barnfield Training Centre, and European football at Turf Moor for the first time in more than half a century.”
“In Alan Pace and his team, we are welcoming committed investors to Turf Moor who will be living here in the local community and investing in the club, both on and off the football pitch, for many years to come,” Garlick said in the statement.
“My tenure as chairman has always been about ensuring Burnley is a sustainable football club, and this investment provides a long-term plan to maintain that philosophy, whilst driving evolution and innovation.”
“Today marks a new era for Burnley as we become stewards of this historic football club and build on the impressive work that Mike Garlick, Sean Dyche and everyone at Burnley has done to make it a financially stable, established Premier League club that is a cornerstone of the local community,” Pace said.
“With a rich heritage, a brilliant academy, and a passionate fan base, this club has solid foundations to build upon.”
The move is set to come across as a massive shot in the arm for manager Sean Dyche who has earlier talked about how he’s been left dry in the transfer market. Running an extremely small squad, Dyche has been offered extremely little money to invest in his players with the manager talking about how he was declined 99 of the 100 names he had suggested.
“If you’ve got money available to spend you can only spend it on the players that are available. If they are the right players, you do it. If they’re not the right players I’ve never seen the point of it… just stay with what you’ve got,” Sean Dyche had said when asked about his plans in the forthcoming transfer window.