ALK Capital or Farnell/Elkashashy takeover

[bfcjg]

Fingers crossed it is coming to completion, even more things crossed that it is beneficial to the club and we look back at this period as when we built on the amazing achievements we have had whilst being owned since our founding by Clarets.

[Steve-Harpers-perm]

I know Simon well and he won't bullshit Burnley fans with stuff.

Possibly completed before Christmas?

[Jakubs Tash]

Great news! Nobody likes a bull-shitter....

That wasn’t aimed at you, Tony btw

Just read it back and realised how it sounded!

[jedi_master]

I don't think there will to be honest although there will be funds available.

I believe the problems that caused the delay could well have been resolved and that could mean we are potentially back on track for a deal to be completed, even possibly next week. I'll try and find more tomorrow.

Great news Tony if so, would be a lovely Christmas present if the club could confirm it next week.

[ClaretTony]

Has Dave Checketts name been mentioned before ?

Checketts was the bloke who was with Pace trying to buy Sheffield United. He was mentioned with Simon's first release back in September and I see he's been mentioned. He's not expected to be involved although if this goes through I expect Pace to be the man running the place and making the decisions.

[randomclaret2]

Cheers Tony, he's certainly a name that has been around American Sports for some time

[ClaretTony]

Cheers Tony, he's certainly a name that has been around American Sports for some time

Have to admit it didn't mean anything to me until the news came out in September and I've not had too much chance to get too much info on them because I was busy on the other side of the fence finding out all the stuff on Farnell.

[Burnleyareback2]

With the Tarks situation, I will be delighted if we have a positive net spend in January.

[NewClaret]

If it comes from Reuters, it’s as solid as a club statement in my view! Exciting times, as Paul would say...

[superdimitri]

as Paul would say...

4 or 5 times

[NewClaret]

Checketts was the bloke who was with Pace trying to buy Sheffield United. He was mentioned with Simon's first release back in September and I see he's been mentioned. He's not expected to be involved although if this goes through I expect Pace to be the man running the place and making the decisions.

Seems that this Checketts chap may have some helpful commercial and marketing contacts though?

[NewClaret]

Fingers crossed it is coming to completion, even more things crossed that it is beneficial to the club and we look back at this period as when we built on the amazing achievements we have had whilst being owned since our founding by Clarets.

Let’s hope so. Will be wonderful to look back on this period and the current Board’s tenure as the period they built the foundations for us to go to the next level.

Will feel more confident if/when we find out who is backing ALK. Imagine the meltdown on here if it’s Trump

[Paul Waine]

If it comes from Reuters, it’s as solid as a club statement in my view! Exciting times, as Paul would say...

Reuters has told us a little more than either the Burnley Express or BBC articles in the past 24 hours. It fits with my earlier post that ALK had put out a press release - and resulting in reports from interested media. Reuters is the most considered, probably because Reuters is read by financial users, so (I'd expect) them to have higher editorial standards.

On the other hand, the Reuters report isn't quite as "solid" as a statement by ALK and/or Mike Garlick/BFC board. There's nothing in the Reuters report that quotes Alan Pace (or other ALK spokesperson) or Mike Garlick...

Yes, I'm inclined to say "Exciting times" again.

I've no idea how many times I've used that phrase on this thread. I'd hope I'm in double figures already.

Be great if "completion" of the takeover is announced next week or any time in the week leading up to New Year.

UTC

[Paul Waine]

Let’s hope so. Will be wonderful to look back on this period and the current Board’s tenure as the period they built the foundations for us to go to the next level.

Will feel more confident if/when we find out who is backing ALK. Imagine the meltdown on here if it’s Trump

For the record, my "like" is for your statement re the current Board and building the foundations where we support a Premier League club and one that is worth (someone) spending £200 million (assuming that is the figure agreed) to become the new owners of the club.

Yes, it will be interesting to know for sure who/what is behind ALK.

No, I wouldn't "like" it if our new owner was a certain D Trump - and, it wouldn't be "exciting times" if it was anybody like that.

UTC

[Giftonsnoidea]

Just imagine if Garlick over takes this slow on the motorway, would be carnage

[icu81b4]

I would think any progress would be announced on the ALK Capital website, there is a contact telephone number on there, who’s going to ring them and ask when?

[KRBFC]

Can somebody link the latest Reuters article please?

[superdimitri]

Can somebody link the latest Reuters article please?

viewtopic.php?style=2&p=1442469#p1442469

Last page.

[Grumps]

I cannot see the Premier league giving the go ahead for the deal in less than a week
Unless they already have some of the information and are just waiting for the final bit.

[Father Jack]

That is what Chris Borden’s article said:

“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.”

If true it may be 90% approved and not unrealistic that it could move forward quickly once we reach an agreement with ALK.
Feels like this has got to be the moment for the deal to be done: for both parties. Thankfully the hard deadline of the transfer window should focus hearts & minds.

[Grumps]

That is what Chris Borden’s article said:

“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.”

If true it may be 90% approved and not unrealistic that it could move forward quickly once we reach an agreement with ALK.
Feels like this has got to be the moment for the deal to be done: for both parties. Thankfully the hard deadline of the transfer window should focus hearts & minds.

In which case they may get it done, the other article doesn't suggest its gone that far with the league

[ClaretAL]

The Reuters article was updated slightly last night

https://uk.mobile.reuters.com/article/a ... ssion=true

[ClaretAL]

Article from the Independent


https://www.independent.co.uk/sport/foo ... 76010.html

[Steddyman]

I feel a Christmas song coming on..... 'It's on and off and on again.....'

[Paul Waine]

American investors hope to buy Burnley before transfer window

THU DEC 17, 2020 / 11:29 PM GMT
Simon Evans

MANCHESTER, England (Reuters) - American investors ALK Capital are aiming to complete their purchase of Premier League club Burnley in time to strengthen the Lancashire club's squad during the January transfer window, a source close to the bid told Reuters on Thursday.

Burnley moved out of the bottom three with a goalless draw at Aston Villa on Thursday, following up their 1-0 away win at Arsenal on Sunday with another clean sheet and extending their unbeaten run to three games.

Talks between the U.S group, led by former Wall Street banker Alan Pace and Burnley's board, headed by majority shareholder Mike Garlick have intensified in recent weeks with just a few details remaining to be settled before a full submission to the Premier League for authorisation of the takeover, the source said.

The Americans are hoping to get the deal wrapped up before Christmas but are ultimately keen to be in place at Turf Moor in order to invest in the squad in the one month long transfer period.

The investors have been informed of Burnley's specific needs in the transfer market and with Pace expected to take a hands-on role, they believe the club can be quickly effective in the market.

Garlick, who has been at the helm of the club throughout their five straight seasons in the top flight, could stay on at Turf Moor in some capacity to support the new owners although the precise form any involvement has not been finalised.

Manager Sean Dyche has lamented the club's lack of resources to spend on his squad and while he has expressed faith in his current crop, he said before the Villa game that new arrivals would be helpful.

"Is it helpful to have a deeper squad? Yes, it is, the demands are higher than six or seven years ago. The physical demands are higher," he said.

"We have been unfortunate with the amount of injuries and I would hope and suggest that statistically that is unlikely to continue all season but you never know and we have to be ready for that if it does," he said.

Pace was president of Major League Soccer club Real Salt Lake and has recently brought football scouting and recruitment technology products AiScout and Player Lens to the British market.

Last year Pace and American sports executive Dave Checketts were involved in an unsuccessful attempt to purchase Premier League club Sheffield United.

Checketts, who was owner of Real Salt Lake and president of the NBA’s Utah Jazz and New York Knicks, is not understood to be directly involved in this bid but is believed to be working as an advisor.

Burnley have been tight-lipped about the discussions but last month confirmed they were in talks.

"The club’s ownership remain in discussions with interested parties regarding future investment in the club," they said in a statement.

(Reporting by Simon Evans, editing by Pritha Sarkar)

[Paul Waine]

Article from the Independent


https://www.independent.co.uk/sport/foo ... 76010.html

Burnley: American investors hoping to complete takeover before January transfer window
ALK Capital want to strengthen the Clarets’ squad after a poor start to the season

American investors ALK Capital are aiming to complete their purchase of Premier League club Burnley in time to strengthen the Lancashire club's squad during the January transfer window, a source close to the bid told Reuters on Thursday.

Burnley moved out of the bottom three with a goalless draw at Aston Villa on Thursday, following up their 1-0 away win at Arsenal on Sunday with another clean sheet and extending their unbeaten run to three games.

Talks between the US group, led by former Wall Street banker Alan Pace and Burnley's board, headed by majority shareholder Mike Garlick have intensified in recent weeks with just a few details remaining to be settled before a full submission to the Premier League for authorisation of the takeover, the source said.

The Americans are hoping to get the deal wrapped up before Christmas but are ultimately keen to be in place at Turf Moor in order to invest in the squad in the one month long transfer period.

The investors have been informed of Burnley's specific needs in the transfer market and with Pace expected to take a hands-on role, they believe the club can be quickly effective in the market.

Garlick, who has been at the helm of the club throughout their five straight seasons in the top flight, could stay on at Turf Moor in some capacity to support the new owners although the precise form any involvement has not been finalised.

[ClaretTony]

The Reuters article is, I believe, very accurate and I am certain Simon would not have written it without some good information from key people.

For what it's worth, I believe things have progressed very quickly in the las week and I think this could be coming to a conclusion very soon.

[randomclaret2]

The Reuters article is, I believe, very accurate and I am certain Simon would not have written it without some good information from key people.

For what it's worth, I believe things have progressed very quickly in the las week and I think this could be coming to a conclusion very soon.

Great news Tony...have the problems that caused delay been resolved as far as you are aware ?

[Tribesmen]

Jusy waiting on two words

DONE DEAL

[ClaretTony]

Great news Tony...have the problems that caused delay been resolved as far as you are aware ?

Looking that way

[randomclaret2]

Looking that way

Cheers Tony

[Herts Clarets]

So in the last week or so we have been told by various people that:

The deal has been signed
No deal has been signed
It is imminent
Nothing will be signed until after the New Year
There are problems holding up the deal
There are no problems with the deal

And all points in between.

Someone will eventually be right, question is which one........

[ClaretTony]

So in the last week or so we have been told by various people that:

The deal has been signed
No deal has been signed
It is imminent
Nothing will be signed until after the New Year
There are problems holding up the deal
There are no problems with the deal

And all points in between.

Someone will eventually be right, question is which one........

People who have posted their thoughts have done so believing them to be the case at the time, as I did last week when I suggested there had been a delay and when I did last night and today to suggest things were moving quickly. It's not about being right or wrong, it's about commenting on what you can comment on at the time.

[KRBFC]

So in the last week or so we have been told by various people that:

The deal has been signed
No deal has been signed
It is imminent
Nothing will be signed until after the New Year
There are problems holding up the deal
There are no problems with the deal

And all points in between.

Someone will eventually be right, question is which one........

Why does it matter who is correct? I’m sure DJW and CT are both correct in their own way. DJW broke the takeover news before anyone else and CT seems closer to the announcement date. Personally I don’t care who is correct, providing one of them is and the takeover gets completed.

[Jakubs Tash]

Looking that way

Is this something you will be able to elaborate on when the deal has been completed? Just out of interest as to what the sticking points were.

[Bfc]

Without trawling through all the posts relating to the takeover, looking for possible answers. Could anyone say what affect a takeover would have on a shareholders ownership?. Also would there likely be an increase in the value of each share, if the takeover values Burnley Football Club at £200m. Finally would a shareholder have a say in whether they could keep a shareholding, after a takeover, or it's a decision decided by the new owners.

[mill hill claret]

Why does it matter who is correct? I’m sure DJW and CT are both correct in their own way. DJW broke the takeover news before anyone else and CT seems closer to the announcement date. Personally I don’t care who is correct, providing one of them is and the takeover gets completed.

Correct ..

[ClaretTony]

Is this something you will be able to elaborate on when the deal has been completed? Just out of interest as to what the sticking points were.

There are things I know and things I think I know, there are also things I don't know too. I'll say what I can which has always been the case.

[Jakubs Tash]

Why does it matter who is correct? I’m sure DJW and CT are both correct in their own way. DJW broke the takeover news before anyone else and CT seems closer to the announcement date. Personally I don’t care who is correct, providing one of them is and the takeover gets completed.

Agreed. There are far too many posters on here a bit too quick with their sarcastic comments and calling people out when some posters are trying to pass on information as best they can as they feel it's the right thing to do. Quite a few need to grow up....and we all know who they are.

[ClaretTony]

Without trawling through all the posts relating to the takeover, looking for possible answers. Could anyone say what affect a takeover would have on a shareholders ownership?. Also would there likely be an increase in the value of each share, if the takeover values Burnley Football Club at £200m. Finally would a shareholder have a say in whether they could keep a shareholding, after a takeover, or it's a decision decided by the new owners.

I've no idea how it will affect shareholders. I think being in the Premier League has increased the value of my shares for what it's worth but I don't think any of us can say how this will affect us, I've not had any notification as a shareholder. But as I've said previously, they might just be buying Garlick's shares and one other directors and that would take them over 50%.

[Jakubs Tash]

There are things I know and things I think I know, there are also things I don't know too. I'll say what I can which has always been the case.

Do yo know or think you know what the sticking points have been?

[ClaretTony]

Do yo know or think you know what the sticking points have been?

How to ask a question in a different way when you don't get an answer. I'm fairly confident I do but I'm not certain so wouldn't wish to comment.

[Steve-Harpers-perm]

Sounding promising in regards to completing before January. Hopefully exciting times ahead going to be interesting to hear their plans for the club.

[FactualFrank]

Sounding promising in regards to completing before January. Hopefully exciting times ahead going to be interesting to hear their plans for the club.

Hopefully exciting times ahead at our happy place.

[Goddy]

I've no idea how it will affect shareholders. I think being in the Premier League has increased the value of my shares for what it's worth but I don't think any of us can say how this will affect us, I've not had any notification as a shareholder. But as I've said previously, they might just be buying Garlick's shares and one other directors and that would take them over 50%.

I'd be surprised if it was just Garlick plus one other shareholders shares (although I guess that could happen). Usual practice - at least for PLCs (and I know Burnley FC isn't a PLC) - is that the directors are made an offer and then make a recommendation to all shareholders on whether to accept that offer or not. I would have thought once a deal, here with ALK has been negotiated, the rest of us would be informed of the offer for our shares - I have one whole share - with a recommendation to accept the offer.....and then we'd vote on it.

I believe if a certain percentage of shareholders accept the offer (and I think that's around 75-80% - can't remember) then the buyers have the right to buy everyone's shares. As I say, that's roughly how I think it works for PLCs.

If I'm wrong (and I'm probably wrong in various aspects) I'm sure those more knowledgeable than me will put me right.

As Paul Waine says 'exciting times'!

PS Thanks, again, to CT for the updates. Looks like this thing is finally coming to (hopefully) a positive end

[Jakubs Tash]

How to ask a question in a different way when you don't get an answer. I'm fairly confident I do but I'm not certain so wouldn't wish to comment.

Haha! I asked it in a slightly different way as you didn't really answer the original question. I am genuinely interested as to what the sticking points/issues have been.

However, from that response, I shall deduce that you won't be willing to divulge what the sticking points were.

[Rowls]

Please excuse a touch of frippery on this thread...

This saga and the Brexit negotiations have brought the concept of "soft deadlines" and "hard deadlines" into public prominence and it brought to mind a quote from the writer Douglas Adams who is most famous for pennning "The Hitch-hikers Guide to the Galaxy"

I love deadlines. I love the whooshing sound they make as they go by."

Hope this brings a smile to a few faces out there.

[ClaretTony]

I'd be surprised if it was just Garlick plus one other shareholders shares

Me too - was just a hypothetical example - all I know is that there has been no approach for my shares

[elwaclaret]

Haha! I asked it in a slightly different way as you didn't really answer the original question. I am genuinely interested as to what the sticking points/issues have been.

However, from that response, I shall deduce that you won't be willing to divulge what the sticking points were.

How do you expect Tony to answer JT? At no point has CT inferred that he knew what the hold up was, which suggests he is not privy to that information. Not being funny but CT is a fan, not an employee, he’s as desperate as anyone for answers that are as yet not forthcoming.

[ClaretAL]

The Reuters article stated " just a few details remaining to be settled before a full submission to the Premier League for authorisation of the takeover" but does it really matter? Just be happy positive moves are happening and seems to be close to being done