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Burnley Football Club are on the verge of being taken over by Velocity Sports Partners, the sports investment arm of US management firm ALK Capital who have acquired a majority shareholding in the club with a controlling 84% stake.

Alan Pace, who is moving from the United States to East Lancashire, will become the new chairman although both Mike Garlick and John B will remain as directors to work in partnership with Pace.

In a statement recently published, Pace said: “Today marks a new era for Burnley as we become stewards of this historic football club and build on the impressive work that Mike Garlick, Sean Dyche and everyone at Burnley has done to make it a financially stable, established Premier League club that is a cornerstone of the local community.

“With a rich heritage, a brilliant academy, and a passionate fan base, this club has solid foundations to build upon. This is the start of an exciting journey for the entire Clarets family.”

In response, the outgoing chairman said: “This investment represents a natural progression for Burnley Football Club. 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, whilst driving evolution and innovation.”

The press release concluded: “ALK Capital’s investment aims to secure the long-term future of Premier League football in Burnley, with a new management team providing a wealth of operational and technological expertise along with a sustainable growth plan centred on advancing the club, its academy and Burnley’s commercial footprint, whilst upholding the club’s core values and identity.”

There will be more information to follow once the news has been confirmed by the football club and our new owners.

Up the Clarets would like to welcome our new chairman Alan Pace and his associates from ALK Capital to Turf Moor and wish them a happy and long association with the Clarets.

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