US buyers ALK Capital have accomplished their takeover of Premier League membership Burnley.
New chairman Alan Tempo stated the brand new homeowners had been “absolutely ready” to again supervisor Sean Dyche.
The deal was accomplished after being authorised by the Premier League and comes on the eve of the January switch window.
Burnley at present stand sixteenth within the league, 5 factors away from the relegation zone, after a 1-0 win over backside membership Sheffield United on Tuesday night.
The Lancashire membership is the newest to return below American possession following Manchester United, Liverpool, Arsenal, Crystal Palace and Fulham.
The takeover was accomplished by way of ALK’s sports activities funding arm Velocity Sports activities Media, which has acquired an 84% stake within the membership from British homeowners Mike Garlick and John Banaszkiewicz.
Mr Tempo, a twin British-American nationwide who replaces Mr Garlick as chairman, was previously chief government of Main League Soccer crew Actual Salt Lake.
Mr Garlick and Mr Banaszkiewicz will stay on the brand new board of administrators.
Burnley was one of many founder members of the Soccer League in 1888 and gained the English league title in 1921 and 1960.
The Clarets are at present having fun with their fifth straight season within the Premier League after promotion from the Championship in 2016. Sean Dyche has been supervisor since 2012.
The membership earlier this yr reported a revenue of £5m for the yr to the top of June 2019.
Its takeover comes at a time when football clubs are struggling with lowered revenues as matches are performed with out followers on account of COVID-19 restrictions.
Mr Tempo stated it was the “begin of an thrilling new journey for your entire Clarets household”.
He instructed membership media: “We’re very ready to return in and assist Sean and the administration crew.
“We want time to get in and perceive what their wants are, what they’ve been planning for, what the selections had been which they’ve taken to this point and the place they’re wanting to go to – however we’re absolutely ready to again the supervisor.
“What attracted us particularly to Burnley had lots to do with the eagerness of the followers, the standard of the membership and the best way that it had been managed, the longevity of the teaching employees and the flexibility for us to see a path to development.
“For us, we’d not do something that isn’t on a long-term foundation – this isn’t a brief ‘buy-to-flip’ alternative.”
ALK describes itself as specialising in “acquisition and operations of recent sports activities, media, and leisure belongings, and associated applied sciences”.
Earlier this yr, it invested in two London-based soccer expertise corporations, AiScout and Participant LENS, that are concerned in information analytics and predictive evaluation of gamers.