Burn­ley in ad­vanced talks with US con­sor­tium about takeover

The Daily Telegraph - Business - - Sport / Football - By James Ducker

An Amer­i­can sports in­vest­ment com­pany is in ad­vanced talks with Burn­ley about a takeover of the Turf Moor club. ALK Cap­i­tal is close to strik­ing a deal to take ma­jor­ity con­trol of the Premier League club.

The com­pany is headed by Alan Pace, a for­mer pres­i­dent of Ma­jor League Soc­cer fran­chise Real Salt Lake, who has pre­vi­ously tried to buy Sh­effield United.

Mike Gar­lick, the Burn­ley chair­man, is the club’s ma­jor­ity share­holder with a 49.24 per cent stake and John Banaszkiew­icz has a 28.2 per cent share­hold­ing.

It re­mains to be seen if ALK Cap­i­tal se­cures Gar­lick and Banaszkiew­icz’s en­tire share­hold­ing, but Burn­ley’s prospec­tive new own­ers want to take a hands-on role in the way the club is run.

Pace was man­ag­ing di­rec­tor of now-de­funct US bank Lehman Broth­ers for 12 years un­til 2006 and later joined Cit­i­group, where he worked in var­i­ous se­nior roles.

He set up ALK Cap­i­tal with US busi­ness­man Dave Check­etts in Oc­to­ber last year, around the time it was in­ter­ested in buy­ing Sh­effield

United. Check­etts was owner of Real Salt Lake and pres­i­dent of the NBA bas­ket­ball fran­chises, Utah Jazz and New York Knicks. He is un­der­stood to be work­ing as an ad­viser on ALK Cap­i­tal’s bid.

A spokesper­son for ALK Cap­i­tal said: “ALK Cap­i­tal is aware of me­dia spec­u­la­tion link­ing it with a po­ten­tial in­vest­ment in a Premier League club. ALK Cap­i­tal is un­able to pro­vide any com­ment at this time.”

The Daily Tele­graph re­ported last week that an Amer­i­can con­sor­tium was in talks about buy­ing Burn­ley at a time of grow­ing fric­tion be­tween Gar­lick and man­ager Sean Dy­che.

Dy­che has spo­ken of his frus­tra­tion at Burn­ley’s strug­gles to strengthen their squad and fail­ure to agree new con­tracts for play­ers.

It re­mains to be seen if ALK is able to com­plete a takeover be­fore the trans­fer win­dow closes on Oct 5. Last night, af­ter the 2-0 win at Mill­wall in the Carabao Cup, Dy­che con­firmed the club were “al­most there” in their bid to sign Brighton mid­fielder Dale Stephens for £1mil­lion. Burn­ley are also weigh­ing up a bid for Liver­pool’s Harry Wil­son.

Frus­tra­tion: Man­ager Sean Dy­che has clashed with Burn­ley chair­man Mike Gar­lick over sign­ing new play­ers

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