ALK Capital or Farnell/Elkashashy takeover

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Steve-Harpers-perm
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Re: ALK Capital...

Post by Steve-Harpers-perm » Wed Oct 28, 2020 8:43 pm

Bordeauxclaret wrote:
Wed Oct 28, 2020 8:39 pm
Would that be Flood by any chance?
Clive Holt.
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Re: ALK Capital...

Post by HitchinClaret » Wed Oct 28, 2020 8:46 pm

I’m torn emotionally... I’m thinking that this could be one of the final nails in the coffin of me following football. I was so proud that we essentially swam against the tide of the premier league sugar daddy ethos.

Yet.... if it works out and we become a Leicester rather than a charlton then I am sure that I will end up mugging myself off and join the party...
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Re: ALK Capital...

Post by claptrappers_union » Wed Oct 28, 2020 8:50 pm

Is this the first time these fellas have taken control of a stable club? All the other clubs this Farnell fella got involved in is when they were there already been run poorly... apart from Swansea

Trying to find some silver lining

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Re: ALK Capital...

Post by Paul Waine » Wed Oct 28, 2020 8:52 pm

Burnley in takeover talks after suitor Chris Farnell’s EFL ownership ban is lifted

Jonathan Northcroft, Wednesday October 28 2020, 5.00pm, The Times

A bid has been mounted to buy Burnley, led by Mohamed Sayed Zein Elkashashy, an Egyptian food and leisure magnate, and Chris Farnell, a Cheshire sports lawyer who today had a ban from being owner of a football club lifted by the EFL.

Elkashashy and Farnell are the main players in a group of investors that would pay in the region of £200 million for the Lancashire club, who are presently 18th in the Premier League.

A source close to the pair claims they are closing in on a deal, having provided proof of funding and concluded a sale-and-purchase agreement with Mike Garlick, Burnley’s chairman and main stakeholder, who owns 49.24 per cent of the club’s shares, after negotiations that have been underway for almost 12 months.

Garlick and Burnley’s other leading share owner, John Banaszkiewicz, who has a 28.2 per cent stake, have also been in talks over selling the club with ALK Capital LLC, an American investment group, but those discussions have stalled.

A takeover will have ramifications for Burnley’s manager, Sean Dyche. Relations have long been strained between Garlick and Dyche over their different views on how to grow the club but it is understood Elkashashy and Farnell are keen to back Dyche and plan to provide him with funds to strengthen his squad.

Elkashashy, 42, was born in Egypt and is described as having worked as an executive for Coca-Cola and Protcor & Gamble before becoming a restaurant entrepreneur in Dubai, through his company Think Food LLC.

Farnell, 50, is senior partner in IPS Law, a legal firm based in Hale which has advised Roberto Martínez, the Belgium manager, and players such as Cristiano Ronaldo and David Silva. Farnell was also lead lawyer for Swansea when they were taken over by Steve Kaplan and Jason Levien in 2016.

Last November, Elkashashy and Farnell set up a private investment company, Staunch Partners Limited, which shares an address with IPS Law and is thought to be the proposed takeover vehicle for Burnley.

Farnell was cleared to pursue his bid for Burnley by an independent arbitration panel today, which ruled that an EFL ban on him owning a football club should be limited to five weeks, backdated to September 14.

The disqualifying condition on Farnell was imposed when he was involved in a chaotic takeover saga at Charlton. Farnell was involved in an attempt by Paul Elliott, a Manchester-based businessmen, to buy Charlton from Tahnoon Nimer — who briefly owned the club before selling it to Thomas Sandgaard, a Danish-American entrepreneur.

Elliott and Farnell were unable to pass the EFL’s Owners and Directors test in August. Farnell maintained he failed because of an innocent error — he neglected to tick a box confirming he was briefly director of the company trying to buy Charlton. The independent tribunal today agreed with Farnell that he had not deliberately sought to mislead the EFL.

Farnell’s previous involvement in running a club came at Wigan Athletic, where he was briefly a director in 2013. He also advised the former Leeds United owner Massimo Cellino and was hired by Bury’s management in an unsuccessful bid to keep the defunct club alive before its expulsion from the EFL last August.

The attraction of Burnley for Elkashashy and Farnell is the club’s stability, its recent history of being run on a sound financial footing and the leadership provided by Dyche, who has achieved Europa League football and given Burnley five consecutive seasons in England’s top flight.

Despite finishing tenth last season, Dyche was keen to revamp his squad in the transfer window but was able to buy only one player: Dale Stephens, for £1 million. He will hope that any new owners provide him funds to re-enforce his playing options and Burnley’s struggles this season — Monday’s home defeat by Tottenham left them with one point from their first five games — suggest his desire to strengthen was well-founded.

Burnley declined to comment. However, it is understood that both the Elkashashy/Farnell bid and ALK Capital’s proposal are being given consideration.

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Re: ALK Capital...

Post by Steddyman » Wed Oct 28, 2020 8:52 pm

MRG wrote:
Wed Oct 28, 2020 8:23 pm
I am convinced that ALK will still be the successful party.

I’m also hearing that Farnell is nothing more than an intermediary and will not be involved should they be successful.
Isn't this obvious? I was about to post this. He is a lawyer. People who want to buy football clubs will want to use lawyers with experience in the field. It doesn't mean he will be involved in the running of the club.

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Re: ALK Capital...

Post by JohnMcGreal » Wed Oct 28, 2020 8:53 pm

Trying to think of something positive to say about this, but I'm really struggling. Everything about it just feels wrong and bad for the club. Really hope it works out, but I don't feel great about it.
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Re: ALK Capital...

Post by ewanrob » Wed Oct 28, 2020 8:53 pm

Danieljwaterhouse wrote:
Wed Oct 28, 2020 8:42 pm
Nope, I think there has been enough due diligence done to ensure it’s a good deal.

The premier league is stringent, as are the other owners in the league about prospective owners. They’ve certainly learnt their lessons from past incidents.
You would hope our very cautious owners have carried out very detailed DD..... your thoughts on ALK, priced out of it ?

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Re: ALK Capital...

Post by Lowbankclaret » Wed Oct 28, 2020 8:55 pm

Clubs knackered, once we are owned by charlatans we end up a none league club.

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Re: ALK Capital...

Post by whentheballmoves » Wed Oct 28, 2020 8:56 pm

My Bury supporting mate just messaged me:
"CF is dangerous. Mark my words."
I'm nervous as hell about this...

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Re: ALK Capital...

Post by Wokingclaret » Wed Oct 28, 2020 8:56 pm

HitchinClaret wrote:
Wed Oct 28, 2020 8:46 pm
I’m torn emotionally... I’m thinking that this could be one of the final nails in the coffin of me following football. I was so proud that we essentially swam against the tide of the premier league sugar daddy ethos.

Yet.... if it works out and we become a Leicester rather than a charlton then I am sure that I will end up mugging myself off and join the party...
Burnley has always something I have been proud of, our history, our owners our players, our ground our supporters.......

but if its not the new owners I'm worried about, are the current board the ones that are letting us down here
Last edited by Wokingclaret on Wed Oct 28, 2020 8:57 pm, edited 1 time in total.
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Re: ALK Capital...

Post by Paul Waine » Wed Oct 28, 2020 8:57 pm

Chris Farnell, senior partner of IPS Law. Link: https://ipslaw.co.uk/

SENIOR PARTNER
Chris Farnell advises leading Premier League and Football League Clubs, leading sporting and media agents and a number of high profile sporting individuals on a wide variety of matters.

Chris’ practice areas include: Sports, Media & Entertainment. He specialises in image rights, third party ownership issues, player transfers, intellectual property contracts, contract re-negotiations, sponsorship and endorsement contracts, defamation, sports dispute resolution, footballer and agent disputes, doping hearings, regulatory issues, and both contentious and non-contentious intellectual property law.
Chris has advised on a leading number of high-profile cases in the area of sports law, some of which are listed: –

Chris represented Roberto Martinez in his dispute with Everton FC gaining a record pay-out for his Client and also advising on Roberto Martinez appointment to the Belgian FA
Swansea City Football Club
Chris was the lead lawyer on the sale of the football club to the new owners;
Tyson Fury
Represented the former World Heavyweight Champion;
Cristiano Ronaldo
Chris acted on behalf of Cristiano Ronaldo during his time in the UK on various significant commercial matters.

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Re: ALK Capital...

Post by Steddyman » Wed Oct 28, 2020 8:57 pm

ClaretTony wrote:
Wed Oct 28, 2020 8:37 pm
No mobilising from me, just investigating what on the surface looks concerning. Supporters organisations would be failing in their duty if they didn’t investigate.
At times like this we are lucky to have you and the supporters trust CT. I appeciate the measured response. Let's get all the facts before throwing toys out of the pram.
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Re: ALK Capital...

Post by Leisure » Wed Oct 28, 2020 8:57 pm

Lowbankclaret wrote:
Wed Oct 28, 2020 8:55 pm
Clubs knackered, once we are owned by charlatans we end up a none league club.
Why would someone spend £200mill to turn us into a non-league club?

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Re: ALK Capital...

Post by quoonbeatz » Wed Oct 28, 2020 8:58 pm

You never know how these takeovers might work unless you go for it but I'm pretty sceptical to say the least about this one.

I don't really know anything about the ALK lot either but the difference was that their approach seemed a bit more fresh; a better fit with what we're about. Not sure what I'm basing that on but Farnell seems a chancer who has tried it on and left a trail of destruction at other clubs.

I've always been open to a takeover as long as it's the right fit. Can't say this sounds like it. Not a lot we can do about it though.
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Re: ALK Capital...

Post by claptrappers_union » Wed Oct 28, 2020 8:59 pm

Leisure wrote:
Wed Oct 28, 2020 8:57 pm
Why would someone spend £200mill to turn us into a non-league club?
I presume to sell the assets

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Re: ALK Capital...

Post by SGr » Wed Oct 28, 2020 8:59 pm

Leisure wrote:
Wed Oct 28, 2020 8:57 pm
Why would someone spend £200mill to turn us into a non-league club?
Depends how they structure the deal. Trust me, it’s possible.

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Re: ALK Capital...

Post by Paul Waine » Wed Oct 28, 2020 9:01 pm

Steddyman wrote:
Wed Oct 28, 2020 8:52 pm
Isn't this obvious? I was about to post this. He is a lawyer. People who want to buy football clubs will want to use lawyers with experience in the field. It doesn't mean he will be involved in the running of the club.
Hi Steddyman, that seems to me the logical conclusion from the details in the public domain about CF - both from his legal firm's website (see above) and his other involvement in clubs that have been in difficulties/sale processes etc.

Of course, this time, it may be different. Maybe CF has been a "life long" Burnley fan. He lives in Hale - but, he's not disclosed his support for the Clarets before now, so that he could remain free to advise Ronaldo, Swansea and all the others.

UTC
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Re: ALK Capital...

Post by claret2018 » Wed Oct 28, 2020 9:01 pm

claptrappers_union wrote:
Wed Oct 28, 2020 8:59 pm
I presume to sell the assets
The land that Turf Moor is on must be worth at least £5,000
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Re: ALK Capital...

Post by Leisure » Wed Oct 28, 2020 9:02 pm

claptrappers_union wrote:
Wed Oct 28, 2020 8:59 pm
I presume to sell the assets
Presume!

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Re: ALK Capital...

Post by ksrclaret » Wed Oct 28, 2020 9:03 pm

Lowbankclaret wrote:
Wed Oct 28, 2020 8:55 pm
Clubs knackered, once we are owned by charlatans we end up a none league club.
I know things don't look good and there are serious questions to be raised, but how the hell do you get through life with such a negative outlook on absolutely everything? I've never known someone to look for and revel in the worst possible outcome in every situation.
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Re: ALK Capital...

Post by whentheballmoves » Wed Oct 28, 2020 9:03 pm

Clarets Trust getting Turf Moor listed as an Asset of Community Value (ACV) could prove to be a very shrewd move here, if it is not to go the way of Gigg Lane in a worst case scenario situation...although I believe GL had/has one too.

I hope we are worrying about nothing.

Time for all supporters' organisations to pull together!
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Re: ALK Capital...

Post by bfcjg » Wed Oct 28, 2020 9:04 pm

When non Clarets own our beloved club part of it will die, part of my passion will die , I support Burnley not a group.

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Re: ALK Capital...

Post by Wile E Coyote » Wed Oct 28, 2020 9:04 pm

not much we can do as supporters, generations of fans have been turning up at the club for over a century, why should there be such a panic now when the club are at the highest level ?
In all that time we have to like or lump whoever held the purse strings.

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Re: ALK Capital...

Post by Landore_Jack » Wed Oct 28, 2020 9:06 pm

arise_sir_charge wrote:
Wed Oct 28, 2020 8:33 pm
Lot of hissy fittery based on very little here.

Talk of fans mobilising etc, let’s just see some detail first.

With the greatest of respect to some of the other clubs mentioned regarding Farnell they were basket case outfits long before he appeared.

Charlton have stumbled from one shambles to another. Their antics the last time we played them were long before any of these people had come anywhere near.

I’ll wait and see first before I start talk of AFC Burnley etc.
Just want to say that my club was well run before the Yanks took over. All shareholders were local businessmen with a 20% Supporters Trust stake.

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Re: ALK Capital...

Post by SGr » Wed Oct 28, 2020 9:08 pm

Someone talk to me about leveraged buyouts.

If they can acquire us that way, and do acquire us that way, then I’m pretty confident we’re in dire trouble.

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Re: ALK Capital...

Post by Steddyman » Wed Oct 28, 2020 9:08 pm

bfcjg wrote:
Wed Oct 28, 2020 9:04 pm
When non Clarets own our beloved club part of it will die, part of my passion will die , I support Burnley not a group.
"This is a local club for local people"

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Re: ALK Capital...

Post by Paul Waine » Wed Oct 28, 2020 9:08 pm

Leisure wrote:
Wed Oct 28, 2020 8:57 pm
Why would someone spend £200mill to turn us into a non-league club?
It only needs 200 of us to put up.... "£1 million each to match them....

or 2,000 chipping in £100k each,

or 20,000 putting up £10,000 each.

Could we manage 200,000 paying £1,000.....???

No criticism from me on Mike G and John B selling for the best price they can get. If they've tested and reached the limits of their own appetite to put their money into the club then they are doing the best for the club to pass on ownership to someone who does want to put money in. I'm sure the consensus is amongst fans, Sean Dyche, sport journos and pundits is that the club needs more investment.

UTC

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Re: ALK Capital...

Post by Wellsy1882 » Wed Oct 28, 2020 9:09 pm

Takeover immenent?
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Re: ALK Capital...

Post by Steddyman » Wed Oct 28, 2020 9:09 pm

SGr wrote:
Wed Oct 28, 2020 9:08 pm
Someone talk to me about leveraged buyouts.

If they can acquire us that way, and do acquire us that way, then I’m pretty confident we’re in dire trouble.
Where has that come from?

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Re: ALK Capital...

Post by ClaretAL » Wed Oct 28, 2020 9:10 pm

Danieljwaterhouse wrote:
Wed Oct 28, 2020 8:33 pm
Few people who are now showing their true colours, now there's more in the media. This party came to jump ALK, hence why it came out in the media at that particular time. They’ve been championed by one particular board room member.

If you think that anything we do as fans will derail this deal, you’re living in a dream land....
DJW i know your egos has been dented by a few on here but now is the time if no in private conversation between you and CT or publicly so to back up your take on this, either way for the love of our common goal in our club, lets not lose ego and Semitism at a time when obviously time is not to spare. Lets point fingers later but join for the good.

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Re: ALK Capital...

Post by SGr » Wed Oct 28, 2020 9:11 pm

Steddyman wrote:
Wed Oct 28, 2020 9:09 pm
Where has that come from?
It hasn’t, I’m speculating.

I’m trying to make the point to Leisure that it’s not as simple as someone “paying £200m to make us a non league club”.

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Re: ALK Capital...

Post by Braindead » Wed Oct 28, 2020 9:11 pm

£100 million to spend in January?

Bring it on.

Welcome to Burnley.

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Re: ALK Capital...

Post by Charlton Boy » Wed Oct 28, 2020 9:11 pm

..
Last edited by Charlton Boy on Wed Oct 28, 2020 11:24 pm, edited 1 time in total.
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Re: ALK Capital...

Post by Hedontplayforyou » Wed Oct 28, 2020 9:15 pm

ClaretAL wrote:
Wed Oct 28, 2020 9:10 pm
DJW i know your egos has been dented by a few on here but now is the time if no in private conversation between you and CT or publicly so to back up your take on this, either way for the love of our common goal in our club, lets not lose ego and Semitism at a time when obviously time is not to spare. Lets point fingers later but join for the good.

This ^^^^

Time for as much info as possible to be shared with whoever can help - privately if needs be. Any links to the people involved , stories, facts etc - I’m another who is nervous about this given the Farnell link and the stuff I’ve read about him previously .
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Re: ALK Capital...

Post by Paul Waine » Wed Oct 28, 2020 9:16 pm

Charlton Boy wrote:
Wed Oct 28, 2020 9:11 pm
Those of you still thinking and hoping this could turn out ok.

Chris Farnell was the man at bury when they went under.
The same man who failed the fit and proper persons test just months ago at Charlton. Next to no one ever fails that test.

Chaps please listen to Swansea, bury, Charlton, Salisbury fans. This will not end well.
Hi CB, you don't think CF is just the legal guy that people go to when they are in a mess and need something sorting? I don't think he was at Charlton when the Belgium guy was involved, was he?

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Re: ALK Capital...

Post by Clarets4me » Wed Oct 28, 2020 9:21 pm

Just read on " BRFCS " that Farnell also represented Shebby Singh, former " Global advisor " t'Roverss ... one of India's finest comedians ..

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Re: ALK Capital...

Post by RalphCoatesComb » Wed Oct 28, 2020 9:22 pm

The beginning of the end for me. Farnell should not be let anywhere near an English Club. The Americans sound like "Asset Strippers".

I'm out

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Re: ALK Capital...

Post by Boban » Wed Oct 28, 2020 9:22 pm

*Potential owners watch*
-Ellkashashy and Farnell seen out side Turf having a fag, apparently they Toot in Common
-Gordon Ramses in talks to do Match day catering.
-Pharaoh -Rocher to replace Twix as halftime treat.
- Burnley fans in de Nile and hoping for better owners.

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Re: ALK Capital...

Post by Charlton Boy » Wed Oct 28, 2020 9:23 pm

.
Last edited by Charlton Boy on Wed Oct 28, 2020 9:43 pm, edited 1 time in total.

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Re: ALK Capital...

Post by Lowbankclaret » Wed Oct 28, 2020 9:24 pm

ksrclaret wrote:
Wed Oct 28, 2020 9:03 pm
I know things don't look good and there are serious questions to be raised, but how the hell do you get through life with such a negative outlook on absolutely everything? I've never known someone to look for and revel in the worst possible outcome in every situation.
Well if you walked a. Mile in my shoes you would know.
My best mate, says about me “if it was not for bad luck you would have no luck at all’

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Re: ALK Capital...

Post by SGr » Wed Oct 28, 2020 9:28 pm

Will say it again, the structure of the deal is absolutely critical here.

We’re zero debt now, no interest payments owed to anyone. This can change overnight. If Garlick and co. approve this then the zero debt HAS to remain in place.

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Re: ALK Capital...

Post by Charlton Boy » Wed Oct 28, 2020 9:28 pm

Image
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Re: ALK Capital...

Post by Vegas Claret » Wed Oct 28, 2020 9:32 pm

oh well

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Re: ALK Capital...

Post by Spiral » Wed Oct 28, 2020 9:33 pm


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Re: ALK Capital...

Post by Newcastleclaret93 » Wed Oct 28, 2020 9:36 pm

Is the mass hysteria about this just due to our lack of experience in wealthy owners?

I mean you go down the premier league and it is just a list of dodgy individuals.

Can’t see anything any worse with Farnell and the Egyptian than say an oligarch or Thai company.

Maybe this is jus the next step in our progression and Garlick would still be at the helm regardless

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Re: ALK Capital...

Post by Spiral » Wed Oct 28, 2020 9:36 pm

Also hilarious is the fact that the EFL never thought to buy the domain name "theefl.co.uk", and so football fans can just go right ahead and create a site resembling the EFL's. Useless chancers everywhere you look within English football.

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Re: ALK Capital...

Post by arise_sir_charge » Wed Oct 28, 2020 9:37 pm

I’ll reserve judgement until anything official is announced.

No point worrying about something over which my two shares have zero control.

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Re: ALK Capital...

Post by FactualFrank » Wed Oct 28, 2020 9:38 pm

It's a no from me.
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joey13
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Re: ALK Capital...

Post by joey13 » Wed Oct 28, 2020 9:39 pm

Leisure wrote:
Wed Oct 28, 2020 8:30 pm
As I thought, you haven't got any evidence!
It hardly needs an explanation, it’s there for everyone to see , unless you have your head in the sand

aggi
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Re: ALK Capital...

Post by aggi » Wed Oct 28, 2020 9:39 pm

joey13 wrote:
Wed Oct 28, 2020 8:05 pm
Have a think about it , it’s not that difficult
Because they are Burnley fans who wanted to invest in the club.

If people really think that they are good enough businessmen to have planned taking over a loss-making championship club, getting it promoted to the premier league and selling it for £200m then they must realise there are dozens of other football clubs who'd pay millions for those services.

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