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

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 are in action at Aston Villa on Thursday 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.”