ALK Capital or Farnell/Elkashashy takeover

ClaretTony · Post by **ClaretTony** » Wed Dec 16, 2020 11:40 pm

NewClaret wrote: ↑
Wed Dec 16, 2020 11:38 pm
Wouldn’t happen on uptheclarets mate

Thankfully don't have a print edition

Father Jack · Post by **Father Jack** » Wed Dec 16, 2020 11:42 pm

The Egyptian bid rejected by the premier league ODT test.
Therefore paving the way for ALK to move forward with their offer?

No article has been definitive that Farnell & co are out of the running. Can we be sure?

NewClaret · Post by **NewClaret** » Wed Dec 16, 2020 11:49 pm

ClaretTony wrote: ↑
Wed Dec 16, 2020 11:40 pm
Thankfully don't have a print edition

Good job you didn’t send your Quaison story to press either

Just looked to see how he’s getting on to see if he might be a January target and not had the most prolific start to the season - two goals. Might have to file that in the recycle bin!

ClaretTony · Post by **ClaretTony** » Wed Dec 16, 2020 11:52 pm

Father Jack wrote: ↑
Wed Dec 16, 2020 11:42 pm
The Egyptian bid rejected by the premier league ODT test.
Therefore paving the way for ALK to move forward with their offer?

No article has been definitive that Farnell & co are out of the running. Can we be sure?

There have been no articles anywhere with anything definitive, the whole thing publicly has been speculation as it continues to be.

I only got involved in this (involved isn't the right word really) when the name Farnell came up from The Athletic on 28th October. I spoke to a lot of people from various places, different clubs, media people, about Farnell. Meanwhile I did find it interesting that previously, way back on 23rd September, Simon Evans (Eli's son) had broken the news about ALK via Reuters.

It's gone on from there really and no, there is no proof or confirmation on anything, but I do believe that Farnell & Elkashashy have been out of the running for a while, although I did have a real concern a couple of weeks back that they were back in the running, and that it has been ALK. My latest info was that a delay was taking it into January but I'll try and check out whether that is still the case. Obviously all my information and that from anyone else will be coming from outside because those involved will be subject to non disclosure agreements.

So, to answer your question, no we can't be sure, but I do believe that ALK are the ones we are talking to now. How far that is away from happening, if it does, I don't know for sure but I certainly am of the opinion, unlike DJW, that it has not happened.

Paul Waine · Post by **Paul Waine** » Wed Dec 16, 2020 11:53 pm

Copy/paste the full article in Burnley Express - for ease of reference.

****************************

ALK Capital closing in on takeover of Burnley Football Club in time to impact January transfer window
ALK Capital are closing in on a takeover of Burnley Football Club.

By Chris Boden, Wednesday, 16th December 2020, 10:56 pm

Having been in negotiations for over a year, the American investment firm still have a number of hurdles to complete, including the final sign off from all parties on the terms of the deal and full Premier League approval.

But the Premier League are expected to give their blessing, having reviewed most of ALK’s application, and are currently awaiting a few final legal documents from ALK and Burnley.

Having initially been confident of getting things done in time for Christmas, that aim is now a race against time, but ALK managing partner Alan Pace is relaxed that even if things move into the New Year, ALK could still crucially be active in the January transfer window.

As part of his due diligence, Pace has discussed future recruitment plans and priorities with the club, to ensure he’s fully prepared to immediately action any business, should the takeover be completed.

Burnley were in action at Aston Villa last night, but although results on Wednesday night dropped the Clarets back into the bottom three on goal difference, the side’s form – taking eight points from five games – is a positive for ALK right now.

The investors were naturally concerned, especially in the current financial climate, about the threat of relegation, and suggestions that manager Sean Dyche has been unhappy, with stability on and off the pitch key to completing the investment.

The developments will come as a blow to sports lawyer Chris Farnell and Egyptian businessman Mohamed Elkashashy, who felt they were still very much in the frame, having signed a Sales and Purchase Agreement (SPA) and provided proof of funding.

They have been waiting on the Premier League’s owners and directors test, which they felt was the final hurdle to clear, and were hopeful of news in that respect at the end of November or beginning of December.

However, they have had to play a waiting game on that front, and it appears ALK have stolen a march.

Both parties value Dyche as the jewel in Burnley’s crown, and are very much aligned with his thoughts that it should be a case of evolution rather than revolution under new ownership, as he said recently: “I don’t think many managers think they can just change everything overnight.

“Most know it’s a gradual thing.

“Top managers are saying it takes time to get what we want, so I don’t think many clubs literally go for revolution and it suddenly just works.

“Sometimes it has, not very often, and not sustainable.”

Dyche has yet to meet either group, and admitted on Tuesday he had “not had any dialogue with the chairman at all, or the board for that matter, to give me any direction on that.

“I just keep working hard with the team and keep trying to get results.”

However, some clarity and extra finance would clearly be of benefit, although he doesn’t believe new faces in January are critical: “Is it helpful to have a deeper squad? Yes it is.

“We have been unfortunate with the amount of injuries – I would suggest that’s statistically unlikely to continue this season, but you never know.

“Is it helpful if we can get some players in? Yes.

“Is it vital? Not always.

“I believe in these players, I certainly believe in them individually and collectively, which is a powerful thing.”

*****************************

Exciting times.

UTC

ClaretTony · Post by **ClaretTony** » Wed Dec 16, 2020 11:57 pm

NewClaret wrote: ↑
Wed Dec 16, 2020 11:49 pm
Good job you didn’t send your Quaison story to press either

Just looked to see how he’s getting on to see if he might be a January target and not had the most prolific start to the season - two goals. Might have to file that in the recycle bin!

I once had an article written for Paul Butler who we were signing from Wolves back in 2002. It didn't happen in the end because of an injury crisis at Wolves but somebody working for Footy Mad actually published the article and it had my name to it.

ClaretTony · Post by **ClaretTony** » Wed Dec 16, 2020 11:58 pm

Paul Waine wrote: ↑
Wed Dec 16, 2020 11:53 pm
Having been in negotiations for over a year

That's an interesting line because I recall speaking to a senior member of staff at the club back in March who said we were actively looking for investment but there was no one in for the club at that time.

mybloodisclaret · Post by **mybloodisclaret** » Thu Dec 17, 2020 12:06 am

ClaretTony wrote: ↑
Wed Dec 16, 2020 11:35 pm
Or maybe the change in tone is knowing that he might not have to deal with Garlick in the near future.

Very interesting...

Paul Waine · Post by **Paul Waine** » Thu Dec 17, 2020 12:21 am

ClaretTony wrote: ↑
Wed Dec 16, 2020 11:58 pm
That's an interesting line because I recall speaking to a senior member of staff at the club back in March who said we were actively looking for investment but there was no one in for the club at that time.

I think we understand that Mike Garlick/the club have been looking for new investors for "a couple of years..." Was it early 2019 that we first saw reports in the media to that effect? plus production of a prospectus? We definitely saw a number of US media outlets (print media, tv, maybe others) producing "background" articles on BFC - which could be considered the "outward" sign that there was a PR exercise under way...

It may be that ALK and the club were first in contact "over a year ago." Whether these were "serious negotiations" or "we may be interested, tell us more..." type early discussions, it doesn't really matter. Maybe ALK had reps come and watch a few games? Maybe there was a possibility of a deal before the end of last season - until covid-19 through a big "spanner" in everyone's plans? Maybe Mike Garlick's statement in April about the impact of covid-19 also reflected a hiatus in discussions with possible new investors? Maybe finishing 10th was very promising for the outcome.... then the injuries and the "slow" start to this season gave ALK to ask a few more questions? Maybe the form over the past few games (with City being the same as last season - when we finished 10th...) have assisted things to progress?

I think we can assume that the Reuters report originated from ALK and the later El Kashashy/Farnell came from their side. All we know from BFC is what Neil Hart has told us "takeover discussions" - but no parties named.

Sean Dyche is a smart person. I'm sure there will have been conversations with him inside the club, if only because of the CEO's statement. If there are expressions that Sean Dyche is key to new owner's plans it is because everyone needs Sean Dyche (and the players) to hear that. Similarly, SD's "evolution - not revolution" needs to be heard by the squad - and it needs to be linked to the new owners.

The transfer window is coming up. So, again, ALK need to get the message heard that they will be prepared - and, this may suggest that there were hopes to complete the takeover in Dec, but more time is now needed - and Chris Boden explains this as the Premier League requiring some more info.

It doesn't really matter the exact nature and timing of events or how accurate the media reports are in the meantime. What matters is that the deal gets done. It's good for the club that new investors come in.

Exciting times.

UTC

mkmel · Post by **mkmel** » Thu Dec 17, 2020 5:24 am

I think that it also matters that we somehow bring two or possibly three new signings in during the transfer window

burnley007 · Post by **burnley007** » Thu Dec 17, 2020 6:02 am

mkmel wrote: ↑
Thu Dec 17, 2020 5:24 am
I think that it also matters that we somehow bring two or possibly three new signings in during the transfer window

But good signings, not washed up journey men!
Younger, hungry players who can improve, like Brownhill.

claretandy · Post by **claretandy** » Thu Dec 17, 2020 6:13 am

How can Pace "discuss recruitment plans with the club" if he has had no contact with SD ?

Steve-Harpers-perm · Post by **Steve-Harpers-perm** » Thu Dec 17, 2020 6:50 am

claretandy wrote: ↑
Thu Dec 17, 2020 6:13 am
How can Pace "discuss recruitment plans with the club" if he has had no contact with SD ?

Sure there are other people at the club who have acted as a go between. Be really good to get this confirmed soon.

MACCA · Post by **MACCA** » Thu Dec 17, 2020 7:30 am

Chris Boden cheif sports writer an Burnley fan...

Just into his article states...

"Burnley were in action at Aston Villa last night, but although results on Wednesday night dropped the Clarets back into the bottom three on goal difference"

Anyone know the score? I'm going to stick a bet on it, the bookies are still taking bets...

summitclaret · Post by **summitclaret** » Thu Dec 17, 2020 8:01 am

It matters massively if anything happens to Mee or Tarks and also now Brady. This squad needs Tarks's replacement and a right- sided winger in Jan, whether there are new owners or not.

bfcjg · Post by **bfcjg** » Thu Dec 17, 2020 8:15 am

Hopefully the Egyptian and Farnell will leave football clubs alone now and spread their poison elsewhere.

jedi_master · Post by **jedi_master** » Thu Dec 17, 2020 8:24 am

Chris has tweeted fairly regularly throughout this saga and has spoken to ALK/their representatives numerous times (unsure if that is Alan Pace himself or an intermediary - but he has got quotes of Pace before I think). Clearly if he has spoken to them in the last 24 hours and they have said they expect to be backing Dyche in the window (even if not 'fully' in ownership of the keys by then, which it sort of insinuates) then this is very positive news.

I don't think anyone can really know what sort of investment and backing they will be able to provide in terms of raw numbers, but whatever it is HAS to be better than the alternative of what we currently have (i.e, probably failing to sign anyone but some sort of ageing gamble like Peter Crouch). The squad needs some refreshing as we can all see, and has a couple of glaring areas (right back especially) where we need to finally spend some money on an upgrade that is well overdue. If ALK can provide Sean with enough cash to get a couple of ready made first 11 players in January, that would be absolutely superb.

Winstonswhite · Post by **Winstonswhite** » Thu Dec 17, 2020 8:37 am

Nice one.

Fingers crossed we can get the extra funding in place for us to get 50 million spent in January on the next Brewster and Berge to take us to the next level.

Dark Cloud · Post by **Dark Cloud** » Thu Dec 17, 2020 9:22 am

It all seems to still be pretty positive re ALK completing a deal (and Farnell and his mate being dispatched to the shadows) but I doubt ALK will stump up a single penny (or cent) for incoming transfers in January unless they unequivocally hold the keys to The Turf. They surely aren't daft enough to action and fund deals when there is even the slightest chance they may not end up in charge.

dushanbe · Post by **dushanbe** » Thu Dec 17, 2020 9:53 am

Dark Cloud wrote: ↑
Thu Dec 17, 2020 9:22 am
It all seems to still be pretty positive re ALK completing a deal (and Farnell and his mate being dispatched to the shadows) but I doubt ALK will stump up a single penny (or cent) for incoming transfers in January unless they unequivocally hold the keys to The Turf. They surely aren't daft enough to action and fund deals when there is even the slightest chance they may not end up in charge.

You say that but Peter Shackleton pressed the button for the transfer of a million pounds when he wasn't in possession of the keys

Dark Cloud · Post by **Dark Cloud** » Thu Dec 17, 2020 9:56 am

dushanbe wrote: ↑
Thu Dec 17, 2020 9:53 am
You say that but Peter Shackleton pressed the button for the transfer of a million pounds when he wasn't in possession of the keys

Yeah, but he wasn't in possession of a million quid either!

scouseclaret · Post by **scouseclaret** » Thu Dec 17, 2020 10:34 am

Paul Waine wrote: ↑
Thu Dec 17, 2020 12:21 am
Maybe finishing 10th was very promising for the outcome.... then the injuries and the "slow" start to this season gave ALK to ask a few more questions? Maybe the form over the past few games (with City being the same as last season - when we finished 10th...) have assisted things to progress.

I would sincerely hope that decisions are not being made on the basis of short-term form. Anybody buying a club like Burnley needs to be fuly aware that relegation is a constant threat and have an appropriate contingency plan.

I have to say I'm a bit worried by these delays. If there's been a consensus on anything amongst those who reckon they know a bit about this situation, it was a couple of weeks ago when all seemed to agree that an announcement was "imminent"; now we know it'll be the end of the month at the earliest.I can't hep thinking that when football club takeovers start being hit by delays, they have a habit of not happening.

TVC15 · Post by **TVC15** » Thu Dec 17, 2020 10:56 am

Winstonswhite wrote: ↑
Thu Dec 17, 2020 8:37 am
Nice one.

Fingers crossed we can get the extra funding in place for us to get 50 million spent in January on the next Brewster and Berge to take us to the next level.

I see what you did there !!

ClaretTony · Post by **ClaretTony** » Thu Dec 17, 2020 11:22 am

scouseclaret wrote: ↑
Thu Dec 17, 2020 10:34 am
I have to say I'm a bit worried by these delays. If there's been a consensus on anything amongst those who reckon they know a bit about this situation, it was a couple of weeks ago when all seemed to agree that an announcement was "imminent"; now we know it'll be the end of the month at the earliest.I can't hep thinking that when football club takeovers start being hit by delays, they have a habit of not happening.

I think there have been concerns, there have to be when things don't go as smoothly as expected. Last I heard was that it would be into January before it was finalised but reports this week are suggesting it might be earlier. I can't add to that just now.

ClaretTony · Post by **ClaretTony** » Thu Dec 17, 2020 11:26 am

dushanbe wrote: ↑
Thu Dec 17, 2020 9:53 am
You say that but Peter Shackleton pressed the button for the transfer of a million pounds when he wasn't in possession of the keys

I don't think Shackleton was in possession of anything - not even the button

jtv · Post by **jtv** » Thu Dec 17, 2020 11:28 am

ClaretTony wrote: ↑
Thu Dec 17, 2020 11:22 am
I think there have been concerns, there have to be when things don't go as smoothly as expected. Last I heard was that it would be into January before it was finalised but reports this week are suggesting it might be earlier. I can't add to that just now.

Hi CT reports in the press or more reliable reports from your sources please?

ClaretTony · Post by **ClaretTony** » Thu Dec 17, 2020 11:32 am

jtv wrote: ↑
Thu Dec 17, 2020 11:28 am
Hi CT reports in the press or more reliable reports from your sources please?

I only know what I've picked up from people I've spoken to - the info I had was definitely accurate at the time.

Dougall · Post by **Dougall** » Thu Dec 17, 2020 11:35 am

ClaretTony wrote: ↑
Thu Dec 17, 2020 11:26 am
I don't think Shackleton was in possession of anything - not even the button

Or even all his faculties?!

Marney&Mee · Post by **Marney&Mee** » Thu Dec 17, 2020 1:44 pm

The ALK takeover is on the verge of happening by all accounts...

FactualFrank · Post by **FactualFrank** » Thu Dec 17, 2020 1:47 pm

Marney&Mee wrote: ↑
Thu Dec 17, 2020 1:44 pm
The ALK takeover is on the verge of happening by all accounts...

ClaretAL · Post by **ClaretAL** » Thu Dec 17, 2020 3:36 pm

A bit on the BBC

https://www.bbc.co.uk/sport/football/55334755

FactualFrank · Post by **FactualFrank** » Thu Dec 17, 2020 3:41 pm

ClaretAL wrote: ↑
Thu Dec 17, 2020 3:36 pm
A bit on the BBC

https://www.bbc.co.uk/sport/football/55334755

Very similar to the BBC report last week. It looks a rehash.

THEWELLERNUT70 · Post by **THEWELLERNUT70** » Thu Dec 17, 2020 3:45 pm

Its the 1st time I've posted on this thread, but I would like to say a sincere thanks to all those that have offered up as much information as they can to this point, whether it be CT, DJW, BW (and probably a couple who I've no doubt forgotten about). Its appreciated

Paul Waine · Post by **Paul Waine** » Thu Dec 17, 2020 3:59 pm

ClaretAL wrote: ↑
Thu Dec 17, 2020 3:36 pm
A bit on the BBC

https://www.bbc.co.uk/sport/football/55334755

Prospective Burnley buyers hope to complete takeover in time for January transfers
By Simon Stone
BBC Sport

Prospective Burnley owner ALK Capital is hoping to conclude its takeover of the club in time to give manager Sean Dyche a chance to bolster his squad in the January transfer window.

ALK - run by US-based businessman Alan Pace - is pursuing its takeover ambitions at the same time as a separate deal involving Cheshire-based lawyer Chris Farnell and Egyptian businessman Mohamed El Kashashy.

The Premier League is yet to rule on either bid but ALK feels it is in pole position.

And, while it is not anticipated there will be any resolution before Christmas, the American sports investment firm is hopeful the matter will be concluded early enough in January to help Dyche in Burnley's battle against relegation.

Burnley have been seriously weakened since last summer because of a combination of releasing out-of-contract players and not replacing them.

The club dropped back into the relegation zone after Fulham's draw with Brighton on Wednesday but they do have two matches in hand and will climb out of the bottom three if they avoid defeat against Aston Villa on Thursday (18:00 GMT).

************************

Given the report in the Burnley Express (above) and now BBC (maybe other media also), I get the impression that ALK have put out a (low key) press release - aimed at keeping their status in people's mind.

Maybe, last week there were expectations of getting to the "done deal" stage? Maybe there has been a delay - as CT and others have mentioned - and with transfer window approaching, ALK feel the need that "the cavalry is on the way" with funds to see a bit more action in January.

Exciting times.

It's beginning to feel a lot like Christmas...

UTC

FactualFrank · Post by **FactualFrank** » Thu Dec 17, 2020 4:05 pm

It's clear the BBC don't have much info. Back in October they said "Burnley: Clarets subject of £200m takeover bid by Mohamed El Kashashy & Chris Farnell".

BOYSIE31 · Post by **BOYSIE31** » Thu Dec 17, 2020 9:33 pm

Let's hope it's done before Jan - urgently need some better players

Burnleyareback2 · Post by **Burnleyareback2** » Thu Dec 17, 2020 9:52 pm

I continue to be concerned about the expectations on here that if the takeover goes through there will be a treasure chest for new players.

Top Claret · Post by **Top Claret** » Thu Dec 17, 2020 9:54 pm

Out doing?

Steve-Harpers-perm · Post by **Steve-Harpers-perm** » Thu Dec 17, 2020 9:59 pm

BOYSIE31 wrote: ↑
Thu Dec 17, 2020 9:33 pm
Let's hope it's done before Jan - urgently need some better players

We have lots of good players. Realistically we need to add 2 or 3 more good ones to the squad in January. Fantastic reaction to the City drubbing by the manager and team.

mill hill claret · Post by **mill hill claret** » Thu Dec 17, 2020 10:06 pm

https://uk.mobile.reuters.com/article/a ... ssion=true

Pretty similar to what was in burnley Express yesterday

ClaretTony · Post by **ClaretTony** » Thu Dec 17, 2020 10:07 pm

Burnleyareback2 wrote: ↑
Thu Dec 17, 2020 9:52 pm
I continue to be concerned about the expectations on here that if the takeover goes through there will be a treasure chest for new players.

I don't think there will to be honest although there will be funds available.

I believe the problems that caused the delay could well have been resolved and that could mean we are potentially back on track for a deal to be completed, even possibly next week. I'll try and find more tomorrow.

Jakubs Tash · Post by **Jakubs Tash** » Thu Dec 17, 2020 10:09 pm

Burnleyareback2 wrote: ↑
Thu Dec 17, 2020 9:52 pm
I continue to be concerned about the expectations on here that if the takeover goes through there will be a treasure chest for new players.

I wouldn’t lose too much sleep over what some others expectations are....

Clearly there will be some money available. It doesn’t have to be massive - it just has to be enough to enable getting deals over the line. I heard on the radio yesterday that when Karlan Grant signed for West Brom in a £15m deal a couple of months ago, the initial payment was less than £2m and the rest of the deal is drip fed. We don’t need fortunes....just some help.

ClaretTony · Post by **ClaretTony** » Thu Dec 17, 2020 10:09 pm

ClaretTony wrote: ↑
Thu Dec 17, 2020 10:07 pm
I don't think there will to be honest although there will be funds available.

I believe the problems that caused the delay could well have been resolved and that could mean we are potentially back on track for a deal to be completed, even possibly next week. I'll try and find more tomorrow.

And I've now just seen the Reuters piece, that's Eli Jnr and he's as good a link we could have in the media.

randomclaret2 · Post by **randomclaret2** » Thu Dec 17, 2020 10:09 pm

ClaretTony wrote: ↑
Thu Dec 17, 2020 10:07 pm
I don't think there will to be honest although there will be funds available.

I believe the problems that caused the delay could well have been resolved and that could mean we are potentially back on track for a deal to be completed, even possibly next week. I'll try and find more tomorrow.

Great news

mill hill claret · Post by **mill hill claret** » Thu Dec 17, 2020 10:11 pm

I suppose any funds that are available will be a bonus ..because there are zilch funds available at present

RVclaret · Post by **RVclaret** » Thu Dec 17, 2020 10:15 pm

That Reuters article sounds very promising. Really like a lot of the noise of how ALK and the investors are keen to get in for January in order to get on top of recruitment quickly.

ClaretTony · Post by **ClaretTony** » Thu Dec 17, 2020 10:15 pm

mill hill claret wrote: ↑
Thu Dec 17, 2020 10:11 pm
I suppose any funds that are available will be a bonus ..because there are zilch funds available at present

I think it will be a waiting game for us to see what's on offer if and when ALK take control of the club in terms of player investment.

ClaretTony · Post by **ClaretTony** » Thu Dec 17, 2020 10:16 pm

RVclaret wrote: ↑
Thu Dec 17, 2020 10:15 pm
That Reuters article sounds very promising

I know Simon well and he won't bullshit Burnley fans with stuff.

Jakubs Tash · Post by **Jakubs Tash** » Thu Dec 17, 2020 10:18 pm

ClaretTony wrote: ↑
Thu Dec 17, 2020 10:16 pm
I know Simon well and he won't bullshit Burnley fans with stuff.

Great news! Nobody likes a bull-shitter....

randomclaret2 · Post by **randomclaret2** » Thu Dec 17, 2020 10:19 pm

ClaretTony wrote: ↑
Thu Dec 17, 2020 10:16 pm
I know Simon well and he won't bullshit Burnley fans with stuff.

Has Dave Checketts name been mentioned before ?