ALK closes in on £120m deal for Premier League Burnley

December 30 – A sixth Premier League club could come under US ownership this week with reports that ALK Capital are on the verge of completing their £120 million deal for Burnley.

ALK looks to have beaten off a rival deal for the club involving Cheshire-based lawyer Chris Farnell and Egyptian businessman Mohamed El Kashashy.

ALK’s managing director Alan Pace has passed the Premier League’s owners and directors’ test and is currently in the North West to conclude the deal with Burnley chairman Mike Garlick who holds a near 50% stake in the club.

Pace is a former president of Major League Soccer side Real Salt Lake and has reportedly said he intends to take a hands-on role at the club. His banking background includes both stints at Citigroup and Lehman Brothers. He recently entered the UK football market with two football-based technology solutions, AiScout and Player Lens.

The news of the deal will welcomed by Burnley manager Sean Dyche who has called for funds to boost his squad. Pace has indicated that money would be available in the January transfer window.

An improvement in recent results have lifted Fulham out of the relegation zone. Their next match is against Fulham this weekend who are one place below them and in a relegation position.

Burnley will follow Manchester United, Liverpool, Arsenal, Fulham and Crystal Palace into US ownership, and they could be followed Southampton who have been – for several months – working their way through a £200 million deal with Miami-based US sports investor Joe DaGrosa.

DaGrosa currently looks like he doesn’t have the money to join the Premier League party, nor the co-operation to form a consortium. That would leave Saints in the hands of Chinese owner Gao Jisheng who put Southampton on sale earlier this year with a £250 million price tag.

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