Premier League: American company ALK Capital acquires 84% of Burnley FC

Velocity Sports Partners, the sports investment arm of US-based ALK Capital, has acquired an 84% majority stake in Burnley FC (Premier League), announced the club on 31/12/2020. The transaction was valued at around £168m (€186m) according to English media.

British-American Alan Pace, former CEO of the Real Salt Lake (MLS) franchise and managing partner of ALK Capital, has replaced Mick Garlick as the club's chairman. The latter retains his place on the board of directors along with John Banaszkiewicz. The two men previously held the majority of Burnley FC's capital.

"ALK Capitals 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," added the club.

Burnley FC are the 14^th 2020-21 Premier League club (out of 20) to come under foreign control (see below). 70% of clubs in the English elite are…