After Newcastle United, Burnley are the next mid table side that have been linked with a big money takeover. American sports investment company ALK Capital, headed by Alan Pace are reportedly on the verge of acquiring the club.
According to the Daily Mail, the takeover is on the verge of completion and ownership could be finalised as soon as next week. Egyptian businessman Mohamed El Kashashy and sports lawyer Chris Farnell were alongside ALK Capital in terms of candidates suitable to take over the club, but their offers have since fizzled out.
The American company is rumoured to be in the clear regarding ownership of the club, and only await approval from the Premier League to finalise the investment in the mid-table club.Â
Burnley chairman Mike Garlick could still remain at the club for the foreseeable future, according to the Daily Mail. Furthermore, manager Sean Dyche is reportedly favoured by the potential owners and could spend some more time at the club if the hefty investment goes through.
Should the takeover go through right before the January transfer window, it would possibly be followed by pumping of cash through the treasury that will enable the Clarets to finally sign some new players.Â
Burnley currently sit second-last in the table and have only managed to win one out of ten games played this season, a 1:0 victory against Crystal Palace three weeks ago. They have since lost 5:0 to Manchester City and have held Everton to a 1:1 draw to earn a point off the Toffees.Â
What could have been the future of Newcastle could be the future of Burnley if the change in ownership of the Premier League club works out. A fresh supply of cash would enable the club to recruit players in January and perhaps prevent a drop to the Championship.
