US finance group ALK Capital closes in on Burnley takeover

The US finance group ALK Capital is expected to complete its takeover of Burnley imminently in a buyout of the club’s two major shareholders that will give the company a near 90% holding.

Mike Garlick, the Burnley chairman, has a 49% share, and the former co-chairman and now director John Banaszkiewicz 28%, with the sale of each of these understood to be close to completion.

Alan Pace, of ALK, was previously interested in buying Sheffield United and is thought to have already passed the Premier League owners’ and directors’ test.

If the sale does go through it is unclear if the manager, Sean Dyche, will receive a financial boost to strengthen his squad in the transfer window next month. Burnley are 17th in the Premier League, one place above the relegation zone.