Unan Posted December 31, 2020 Report Share Posted December 31, 2020 https://www.bbc.co.uk/sport/football/55495853 American investment group ALK Capital has completed its takeover of Burnley, buying an 84% stake in the Premier League club. ALK managing director Alan Pace has replaced Mike Garlick as chairman. However, Garlick - who sold his near 50% stake in the club - and fellow former shareholder John Banaszkiewicz will remain at Turf Moor as directors. "This marks a new era for Burnley as we become stewards of this historic football club," said Pace. The United States-based businessman said his aim was to "build on the impressive work" that Garlick and manager Sean Dyche have done to make Burnley a "financially stable, established Premier League club that is a cornerstone of the local community". Pace, 53, added: "With a rich heritage, a brilliant academy and a passionate fanbase, this club has solid foundations to build upon. This is the start of an exciting journey for the entire Clarets family." ALK has already stated its intention to help Dyche bolster his squad in next month's transfer window. The Clarets have been weakened since last summer because of a combination of releasing out-of-contract players and not replacing them. They are 16th in the Premier League, five points above the relegation zone, and host 18th-placed Fulham in a key match on Sunday. Dyche has been in charge since October 2012 and took the Clarets up to the Premier League for the 2014-15 season, only to be relegated back to the Championship. However, they immediately returned after winning the 2015-16 Championship and this is their fifth consecutive season in the top flight, a period that has included a seventh-place finish in 2017-18. "This investment represents a natural progression for Burnley," said Garlick, who took over as sole chairman in 2015 after Banaszkiewicz stepped down from their dual role. "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. "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, while driving evolution and innovation." Link to comment Share on other sites More sharing options...
CodeRed Posted December 31, 2020 Report Share Posted December 31, 2020 1 hour ago, Banned User said: https://www.bbc.co.uk/sport/football/55495853 "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. He's going to have a shock when he arrives from the USA and relocates........to Burnley Link to comment Share on other sites More sharing options...
Taz Posted December 31, 2020 Report Share Posted December 31, 2020 Well I doubt they'll be playing against Fulham next, after their game was called off yesterday against Spurs due to covid results. Link to comment Share on other sites More sharing options...
BigTone Posted December 31, 2020 Report Share Posted December 31, 2020 40 minutes ago, CodeRed said: He's going to have a shock when he arrives from the USA and relocates........to Burnley Garden of Eden Link to comment Share on other sites More sharing options...
BigTone Posted December 31, 2020 Report Share Posted December 31, 2020 I find the amount of foreign ownership in English football to be a tad worrying. Sunderland were taken over a week or so back by a 22yo Russian if I am correct in what I read. That'll end in tears I'm sure. Link to comment Share on other sites More sharing options...
Bat Fastard Posted December 31, 2020 Report Share Posted December 31, 2020 13 minutes ago, BigTone said: Garden of Eden Garden of Eden Terrace Link to comment Share on other sites More sharing options...
Midred Posted December 31, 2020 Report Share Posted December 31, 2020 1 hour ago, BigTone said: I find the amount of foreign ownership in English football to be a tad worrying. Sunderland were taken over a week or so back by a 22yo Russian if I am correct in what I read. That'll end in tears I'm sure. And not only for the 22 year old! Will be interesting to see how many "minders" he brings with him? Link to comment Share on other sites More sharing options...
Lrrr Posted December 31, 2020 Report Share Posted December 31, 2020 1 hour ago, BigTone said: I find the amount of foreign ownership in English football to be a tad worrying. Sunderland were taken over a week or so back by a 22yo Russian if I am correct in what I read. That'll end in tears I'm sure. Sunderland will be an interesting one, his father was the owner of Marseille(?) so depending on how well run they were and how much he paid attention it may not be as bad as it could be on the face of it. Link to comment Share on other sites More sharing options...
BigTone Posted December 31, 2020 Report Share Posted December 31, 2020 1 hour ago, Lrrr said: Sunderland will be an interesting one, his father was the owner of Marseille(?) so depending on how well run they were and how much he paid attention it may not be as bad as it could be on the face of it. Could be for LJ though ....... not that I care, but an observation. Link to comment Share on other sites More sharing options...
Slacker Posted December 31, 2020 Report Share Posted December 31, 2020 1 hour ago, Midred said: And not only for the 22 year old! Will be interesting to see how many "minders" he brings with him? Hope he likes watching crap football and doesn't understand English. Will make the after match interviews easier to tolerate. Link to comment Share on other sites More sharing options...
BanburyRed Posted December 31, 2020 Report Share Posted December 31, 2020 3 hours ago, BigTone said: Garden of Eden Lucky to even have a garden! Closest they'll get is a bag of garden peas! Link to comment Share on other sites More sharing options...
CheddarReds Posted December 31, 2020 Report Share Posted December 31, 2020 That's come at a good time for Burnley and Dyche. An old squad there that despite overperforming was destined to go down eventually with little cash to spend, but that injection of cash should allow the squad to be rejuvenated. It'll be interesting to see how it's spent and whether, with enough cash, there's any change in Dyche's style of football. Certainly hope he's given plenty of time to implement a new style should Burnley decide to do so . Link to comment Share on other sites More sharing options...
BigTone Posted December 31, 2020 Report Share Posted December 31, 2020 7 minutes ago, BanburyRed said: Lucky to even have a garden! Closest they'll get is a bag of garden peas! Mushy ? Link to comment Share on other sites More sharing options...
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