ICLG.com's in-house journalists and expert Delaware-based ALK, which specialises in investments in the sport and media sectors, said its managing partner Alan Pace would take over from Mike Garlick as chairman. The acquisition, which was negotiated in 2020, comes after ALK Capital’s recent entry into the European sports space via two ventures in London-based football technology businesses AiScout and online football player-transfer platform Player LENS. SportBusiness Staff. Mino Raiola riles the powerful, despises lateness and will never wear a suit... but as he engineers a mega-money transfer for Erling Haaland, what is the 'super agent' really like to deal with in showdown talks? The takeover was announced Thursday. Register with us FREE. Velocity Sports Partners (VSP), the sports investment arm of US management firm ALK Capital, acquires majority shareholding… To end 2020, Burnley FC confirmed that Velocity Sports Partners (VSP), the sports investment arm of US management firm ALK Capital, had acquired a majority shareholding (84 per cent) in the club, ushering in a new era for the Lancashire side who aspire to remain in the Premier League for the long-term. BURNLEY fans are waking up on the final day of 2020 to the news the club is under new ownership.. ALK Capital’s takeover is complete with Alan Pace replacing Mike Garlick as chairman. Garlick told the club's official website: 'This investment represents a natural progression for Burnley Football Club. American investment group ALK Capital has completed its takeover of Burnley, buying an 84% stake in the Premier League club. Back on Dec. 31, Alan Pace’s ALK Capital closed on its acquisition of the English Premier League club, Burnley F.C. The comments below have not been moderated. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. Burnley will sign players. '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. The International Comparative Legal Guides and the International Business Reports are published by: Global Legal Group, The guide is valuable to use with its overview of the recent developments of product liability systems particularly in countries from EU...the reference guide will be a useful part of our library collection.Borislav Boyanov, Partner - Borislav Boyanov & Co, Bulgaria, © 2002-2021 Copyright: ICLG.com | Our Privacy. related products and services, Unlock 3 FREE PDF chapters by registering with us FREE On New Year's Eve 2020, ALK Capital, a US firm, completed the purchase of nearly 84% of the share capital of Burnley FC Holdings Limited, the holding company of English Premier League team Burnley Football Club. Already registered? In a statement, Watkins described the transaction as “the first major acquisition of a Premier League side by external investors in almost five years and one of the most significant corporate projects within sport this year”. After the deal was announced, 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. Incoming chairman Alan Pace is set to speak with manager Sean Dyche on Thursday after the American management firm concluded the deal in time for next month's transfer window. articles by leading legal practitioners, 3 free PDF downloads of the comparative Burnley declined to comment. By staying on as directors, Garlick and Banaszkiewicz will ensure a smooth transition for the change in ownership, with Garlick in particular sharing valuable club insight and knowledge gained during the last eight years as club chairman. Outgoing chairman Mike Garlick (above) will stay on as a director to smooth the process. BURNLEY, UK. We are no longer accepting comments on this article. ALK Capital has agreed to buy an 84 per cent shareholding in Burnley, which was established as a football club in 1882. The American firm has bought a 84 per cent stake. '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.'. US investment firm ALK Capital ‘close to’ Burnley takeover . Play it now. Bob Williams, US office. Sunday , March 14 2021 Arunava about Football A look at football & the world through my eyes! 1 Mar 2021. There was nobility amidst the carnage. The … ALK Capital, a US sports investment company, have acquired a controlling 84 per cent stake in Burnley that is thought to value the Lancashire club at in excess of £200 million. 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