Burnley owners looking for investors or potential buyers just YEAR after £170m takeover with ALL players up for sale
BURNLEY owners ALK Capital have asked London financiers to find new investors — or even prospective buyers. Just over a year since the American company completed a £170million takeover, financial alarm bells are ringing loudly within Turf Moor. SunSport revealed it has already been made clear to boss Sean Dyche that ANY of his players […]
BURNLEY owners ALK Capital have asked London financiers to find new investors — or even prospective buyers.
Just over a year since the American company completed a £170million takeover, financial alarm bells are ringing loudly within Turf Moor.
SunSport revealed it has already been made clear to boss Sean Dyche that ANY of his players will be sold this month if clubs come up with the right valuation.
Striker Chris Wood already moved on after fellow strugglers Newcastle activated his £25m release clause.
Others, like winger Dwight McNeil and England defender James Tarkowski – who is in the final months of his contract – could also go.
Nine other Clarets are out of contract this summer.
ALK took over in a leveraged buyout, borrowing £60m from US tech billionaire Michael Dell.
They also mortgaged future TV payments to fund the deal that saw them buy 84 per cent of the club.
Meanwhile, former owners Mike Garlick, John Banaszkiewicz and a collection of minor previous shareholders are still awaiting payments of £102m.
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ALK, run by chairman Alan Pace, had hoped to raise money to offset their borrowing.
But with the club lying bottom of the Prem and heading for the Championship they have hit a blank wall.
They are now asking London bankers to help them raise desperately needed new funds after only putting in around £15m of their own money.
With their buyout heading for a financial crisis should Dyche’s side go down, it is understood ALK may even consider any bid that would allow them to sell up and walk away.
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