Burnley’s £170million Takeover By ALK Capital Has Been Completed

The takeover of Burnley was finally completed on Wednesday night, with ALK Capital confirmed as the club's new owners.

Incoming chairman Alan Pace is set to speak with manager Sean Dyche on Thursday after the American management firm concluded the deal in time for next month's transfer window.

According to Sportsmail, ALK purchased a controlling 84 per cent stake for around £170million.

Pace, 53, was formally managing director at Citi bank and chief executive of Real Salt Lake as they won the MLS Cup in 2009.

After the deal was announced, Pace said: ‘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.

‘With a rich heritage, a brilliant academy, and a passionate fan base, this club has solid foundations to build upon.'

Former shareholders Mike Garlick and John Banaszkiewicz will remain as directors at Turf Moor to ensure a smooth transition in ownership.

Garlick told the club's official website: ‘This investment represents a natural progression for Burnley Football Club.

Former chairman Garlick has been in control of the Lancashire club, with Banaszkiewicz as co-chairman, since 2012.

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The pair have overseen the hiring of Dyche as manager, two Premier League promotions and the £10.6million development of the club's Barnfield Training Centre.

This article was most recently revised and updated 2 years ago

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