The wait is over - ALK Capital buy Burnley FC

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The wait is over - ALK Capital buy Burnley FC

Post by icu81b4 » Wed Dec 30, 2020 11:05 pm

See website

https://alkcapital.com/news-media/

MEDIA RELEASE ON BEHALF OF ALK CAPITAL & BURNLEY FOOTBALL CLUB
ALK CAPITAL COMPLETES INVESTMENT IN BURNLEY F.C.
• Velocity Sports Partners (VSP), the sports investment arm of US management firm ALK Capital, acquires majority shareholding in Burnley F.C.
• VSP now holds a controlling 84% stake in the club, with the investment signalling a new era for the Clarets, building on the club’s history and recent successes
• Former shareholders Mike Garlick and John Banaszkiewicz to remain at Turf Moor as directors, working in partnership with new chairman Alan Pace.
BURNLEY, ENGLAND: ALK Capital – the leading US management firm specialising in investments in the sports and media sectors - today completed its investment in Burnley F.C.
The deal, approved and ratified by the Premier League, sees ALK Capital’s sports investment arm, Velocity Sports Partners, acquire an 84% shareholding in the club, which was English champions in 1921 and 1960. The firm’s Managing Partner Alan Pace will take over from Mike Garlick as club chairman.
Garlick, alongside former shareholder John Banaszkiewicz, will remain on ALK Capital’s new board of directors at Burnley, ensuring a smooth transition to new ownership and providing valuable knowledge from his eight-year tenure as club chairman. This successful period has seen two promotions to the Premier League, development of the Barnfield Training Centre, and European football at Turf Moor for the first time in more than half a century.
Mike Garlick, outgoing chairman and director of Burnley F.C., said:
“This investment represents a natural progression for Burnley Football Club. In Alan Pace and his team, we are welcoming committed investors to Turf Moor who will be living here in the local community and investing in the club, both on and off the football pitch, for many years to come. My tenure as chairman has always been about ensuring Burnley is a sustainable football club, and this investment provides a long-term plan to maintain that philosophy, whilst driving evolution and innovation.”
Alan Pace, incoming chairman and Managing Partner of ALK Capital, said:
“Today marks a new era for Burnley as we become stewards of this historic football club and build on the impressive work that Mike Garlick, Sean Dyche and everyone at Burnley has done to make it a financially stable, established Premier League club that is a cornerstone of the local community. With a rich heritage, a brilliant academy, and a passionate fan base, this club has solid foundations to build upon. This is the start of an exciting journey for the entire Clarets family.”
ALK Capital’s 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.

Pace, aged 53, brings 20 years in the financial services industry and over a decade of sports management experience to Burnley. A dual British American national, he was formally a Managing Director and Global Head of Sales for Securities Services at Citi, responsible for overseeing a multibillion-dollar division. Alan is a former partner at SCP Worldwide LLC – owner of sports, entertainment and media properties – and a previous CEO of Major League Soccer franchise Real Salt Lake, where he oversaw the transformation of a consistently last-place team to winning the 2009 MLS Cup.
The acquisition of a majority stake in Burnley builds on ALK Capital’s recent entry into the European sports market with two strategic investments in London-based football technology businesses AiScout and Player LENS.
ENDS
For further information or media enquiries, please contact: Paul Garbett, +44 7467 446231, paul.garbett@alkcapital.com
About ALK Capital:
Velocity Sports Partners is the sports investment arm of ALK Capital LLC, the leading US management firm specialising in investments, acquisitions and operations in sports and media. Registered in the State of Delaware, the company benefits from a seasoned team of sports, finance and investment professionals with decades of experience in maximising the performance, operations and investment of multiple Fortune 100 companies.
The group is headed by Managing Partner Alan Pace, an accomplished leader in sports and financial services turnarounds with over 20 years of Wall Street experience and 10+ years of delivering results through sports management and consulting. Most recently, Alan was a Managing Director and Global Head of Sales for Securities Services at Citi, responsible for overseeing all facets of client experience for a multibillion-dollar division.
Alan is a former partner at SCP Worldwide LLC – owner of sports, entertainment and media properties – and a previous CEO of Major League Soccer franchise Real Salt Lake, where he oversaw the turnaround of a consistently last-place team to winning the 2009 MLS championship. He is an advisor to team owners and leagues.
About Burnley F.C:
Burnley F.C is a Premier League football club from the town of Burnley in East Lancashire. Founded in 1892, it was one of the first to turn professional in 1893, the same year the club moved to its home ground, Turf Moor, making it the second-longest continuously used stadium in English professional football.
The club enjoys a rich history in English football, being crowned champions of England on two occasions in 1920–21 and 1959–60. The club lifted the FA Cup in 1914 and has twice won the FA Charity Shield, in 1960 and 1973.
Burnley F.C is in its fifth consecutive season in the Premier League, having most recently won promotion back to the top-flight as winners of the Championship in 2015–16. The club has spent 58 seasons overall in the highest division of English football, qualifying for continental competition on three occasions, including reaching the Quarter Finals of the European Cup in 1960-61.
The club benefits from a Category 1 Premier League academy, which has produced home-grown talent such as England international Jay Rodriquez and England U21 international Dwight McNeil.
Burnley F.C. is proudly affiliated with Burnley F.C. Women, which plays in the FA Women's National League North having achieved back-to-back promotions, as champions of the FA Women's National League Division One North in 2018-19 and North West Women's Regional Football League in 2017-18.
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Re: The wait is over - ALK Capital buy Burnley FC

Post by claptrappers_union » Wed Dec 30, 2020 11:07 pm

I for one, welcome our new American overlords....
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Re: The wait is over - ALK Capital buy Burnley FC

Post by Wellsy1882 » Wed Dec 30, 2020 11:09 pm

Me too
Up the fuckin clarets
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Re: The wait is over - ALK Capital buy Burnley FC

Post by GrahamBranchsPerm » Wed Dec 30, 2020 11:10 pm

Here here.
Welcome fellas.
Up the fuckin Clarets!

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Re: The wait is over - ALK Capital buy Burnley FC

Post by Bosscat » Wed Dec 30, 2020 11:13 pm

Lets hope Sean gets the backing required to push us onwards and upwards 🤠

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Re: The wait is over - ALK Capital buy Burnley FC

Post by Steve1956 » Wed Dec 30, 2020 11:14 pm

Right lets cut to the chase... "What's Dyche's transfer budget"...thats all we need to know right now!

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Re: The wait is over - ALK Capital buy Burnley FC

Post by Damo » Wed Dec 30, 2020 11:15 pm

Glad to see Mike Garlick and John B staying at the club.
They have had some unfounded stick from some quarters, but they have been fantastic for the club
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Re: The wait is over - ALK Capital buy Burnley FC

Post by joey13 » Wed Dec 30, 2020 11:18 pm

You would think they would get the right date when we were founded 🤦‍♂️
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Re: The wait is over - ALK Capital buy Burnley FC

Post by icu81b4 » Wed Dec 30, 2020 11:19 pm

Curiously the information has now disappeared from the ALK website

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Re: The wait is over - ALK Capital buy Burnley FC

Post by Roosterbooster » Wed Dec 30, 2020 11:25 pm

icu81b4 wrote:
Wed Dec 30, 2020 11:19 pm
Curiously the information has now disappeared from the ALK website
I suspect it was a trial release before it is officially released in next 24 hours, or it has been pulled due to errors

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Re: The wait is over - ALK Capital buy Burnley FC

Post by Colburn_Claret » Wed Dec 30, 2020 11:25 pm

I too am glad to see MG and JB staying on the board. It will help keep the ship on an even keel, and their knowledge of Burnley and the Prem, will invaluable.

Good luck Mr. Pace, and remember , the Clarets come second only to family.

UTC
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Re: The wait is over - ALK Capital buy Burnley FC

Post by FactualFrank » Wed Dec 30, 2020 11:25 pm

icu81b4 wrote:
Wed Dec 30, 2020 11:19 pm
Curiously the information has now disappeared from the ALK website
Might be spelling errors, or prefer to announce it when peak time in the UK. I wouldn't worry, doubt it's anything major.

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Re: The wait is over - ALK Capital buy Burnley FC

Post by GrahamBranchsPerm » Wed Dec 30, 2020 11:26 pm

Yeah will be an IT bod getting the timing wrong in the USA - needs to align with the Burnley Official site which one would assume would announce in the am.

UTFC
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Re: The wait is over - ALK Capital buy Burnley FC

Post by mill hill claret » Wed Dec 30, 2020 11:39 pm

GrahamBranchsPerm wrote:
Wed Dec 30, 2020 11:26 pm
Yeah will be an IT bod getting the timing wrong in the USA - needs to align with the Burnley Official site which one would assume would announce in the am.

UTFC
Well get that lazy git bentley out of bed and get him typing 😆😆
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Re: The wait is over - ALK Capital buy Burnley FC

Post by Peter Loo » Wed Dec 30, 2020 11:41 pm

Very interesting and we shall see what we shall see in the course of time, lets all hope that we see and enjoy something that is very good about this takeover.

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Re: The wait is over - ALK Capital buy Burnley FC

Post by FCBurnley » Wed Dec 30, 2020 11:43 pm

Colburn_Claret wrote:
Wed Dec 30, 2020 11:25 pm
I too am glad to see MG and JB staying on the board. It will help keep the ship on an even keel, and their knowledge of Burnley and the Prem, will invaluable.

Good luck Mr. Pace, and remember , the Clarets come second only to family.

UTC
Not in our house 😂
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Re: The wait is over - ALK Capital buy Burnley FC

Post by elwaclaret » Wed Dec 30, 2020 11:44 pm

Happy new owners day

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Re: The wait is over - ALK Capital buy Burnley FC

Post by Peter Loo » Wed Dec 30, 2020 11:46 pm

icu81b4 wrote:
Wed Dec 30, 2020 11:05 pm
See website

https://alkcapital.com/news-media/

MEDIA RELEASE ON BEHALF OF ALK CAPITAL & BURNLEY FOOTBALL CLUB
ALK CAPITAL COMPLETES INVESTMENT IN BURNLEY F.C.
• Velocity Sports Partners (VSP), the sports investment arm of US management firm ALK Capital, acquires majority shareholding in Burnley F.C.
• VSP now holds a controlling 84% stake in the club, with the investment signalling a new era for the Clarets, building on the club’s history and recent successes
• Former shareholders Mike Garlick and John Banaszkiewicz to remain at Turf Moor as directors, working in partnership with new chairman Alan Pace.
BURNLEY, ENGLAND: ALK Capital – the leading US management firm specialising in investments in the sports and media sectors - today completed its investment in Burnley F.C.
The deal, approved and ratified by the Premier League, sees ALK Capital’s sports investment arm, Velocity Sports Partners, acquire an 84% shareholding in the club, which was English champions in 1921 and 1960. The firm’s Managing Partner Alan Pace will take over from Mike Garlick as club chairman.
Garlick, alongside former shareholder John Banaszkiewicz, will remain on ALK Capital’s new board of directors at Burnley, ensuring a smooth transition to new ownership and providing valuable knowledge from his eight-year tenure as club chairman. This successful period has seen two promotions to the Premier League, development of the Barnfield Training Centre, and European football at Turf Moor for the first time in more than half a century.
Mike Garlick, outgoing chairman and director of Burnley F.C., said:
“This investment represents a natural progression for Burnley Football Club. In Alan Pace and his team, we are welcoming committed investors to Turf Moor who will be living here in the local community and investing in the club, both on and off the football pitch, for many years to come. My tenure as chairman has always been about ensuring Burnley is a sustainable football club, and this investment provides a long-term plan to maintain that philosophy, whilst driving evolution and innovation.”
Alan Pace, incoming chairman and Managing Partner of ALK Capital, said:
“Today marks a new era for Burnley as we become stewards of this historic football club and build on the impressive work that Mike Garlick, Sean Dyche and everyone at Burnley has done to make it a financially stable, established Premier League club that is a cornerstone of the local community. With a rich heritage, a brilliant academy, and a passionate fan base, this club has solid foundations to build upon. This is the start of an exciting journey for the entire Clarets family.”
ALK Capital’s 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.

Pace, aged 53, brings 20 years in the financial services industry and over a decade of sports management experience to Burnley. A dual British American national, he was formally a Managing Director and Global Head of Sales for Securities Services at Citi, responsible for overseeing a multibillion-dollar division. Alan is a former partner at SCP Worldwide LLC – owner of sports, entertainment and media properties – and a previous CEO of Major League Soccer franchise Real Salt Lake, where he oversaw the transformation of a consistently last-place team to winning the 2009 MLS Cup.
The acquisition of a majority stake in Burnley builds on ALK Capital’s recent entry into the European sports market with two strategic investments in London-based football technology businesses AiScout and Player LENS.
ENDS
For further information or media enquiries, please contact: Paul Garbett, +44 7467 446231, paul.garbett@alkcapital.com
About ALK Capital:
Velocity Sports Partners is the sports investment arm of ALK Capital LLC, the leading US management firm specialising in investments, acquisitions and operations in sports and media. Registered in the State of Delaware, the company benefits from a seasoned team of sports, finance and investment professionals with decades of experience in maximising the performance, operations and investment of multiple Fortune 100 companies.
The group is headed by Managing Partner Alan Pace, an accomplished leader in sports and financial services turnarounds with over 20 years of Wall Street experience and 10+ years of delivering results through sports management and consulting. Most recently, Alan was a Managing Director and Global Head of Sales for Securities Services at Citi, responsible for overseeing all facets of client experience for a multibillion-dollar division.
Alan is a former partner at SCP Worldwide LLC – owner of sports, entertainment and media properties – and a previous CEO of Major League Soccer franchise Real Salt Lake, where he oversaw the turnaround of a consistently last-place team to winning the 2009 MLS championship. He is an advisor to team owners and leagues.
About Burnley F.C:
Burnley F.C is a Premier League football club from the town of Burnley in East Lancashire. Founded in 1892, it was one of the first to turn professional in 1893, the same year the club moved to its home ground, Turf Moor, making it the second-longest continuously used stadium in English professional football.
The club enjoys a rich history in English football, being crowned champions of England on two occasions in 1920–21 and 1959–60. The club lifted the FA Cup in 1914 and has twice won the FA Charity Shield, in 1960 and 1973.
Burnley F.C is in its fifth consecutive season in the Premier League, having most recently won promotion back to the top-flight as winners of the Championship in 2015–16. The club has spent 58 seasons overall in the highest division of English football, qualifying for continental competition on three occasions, including reaching the Quarter Finals of the European Cup in 1960-61.
The club benefits from a Category 1 Premier League academy, which has produced home-grown talent such as England international Jay Rodriquez and England U21 international Dwight McNeil.
Burnley F.C. is proudly affiliated with Burnley F.C. Women, which plays in the FA Women's National League North having achieved back-to-back promotions, as champions of the FA Women's National League Division One North in 2018-19 and North West Women's Regional Football League in 2017-18.
Nothing in that link about taking over BFC icu?

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Re: The wait is over - ALK Capital buy Burnley FC

Post by Andingle » Wed Dec 30, 2020 11:46 pm

Enthusiastic & hopeful UTFC

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Re: The wait is over - ALK Capital buy Burnley FC

Post by HunterST_BFC » Wed Dec 30, 2020 11:51 pm

Something makes me feel a little sad about this...

It feels like 2020's final swipe.

Very mixed feelings.
Time will tell.

Hope it works.

UTC
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Re: The wait is over - ALK Capital buy Burnley FC

Post by MT03ALG » Wed Dec 30, 2020 11:51 pm

Will the other directors stay at the club ?

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Re: The wait is over - ALK Capital buy Burnley FC

Post by Andreshotboots » Wed Dec 30, 2020 11:53 pm

Pace out!!!! I don't like him :D

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Re: The wait is over - ALK Capital buy Burnley FC

Post by FCBurnley » Wed Dec 30, 2020 11:54 pm

Well Hi y’all. At last I will be able to type on my US phone without having to retype words such as color and check ( as in used in a bank ). Never thought I would see this day but in the words of Bob Dylan .... The times they are a changing ..... so gather round people and let’s score a goal .... cos the times they are a changing
Mr Pace. You have just bought yourself a very tough and not easy to please crowd if supporters. My advice to you is don’t try no American bs because if you do it will surely end in tears. We love our team and maybe one day we will love you. But if you screw us over ... It will get ugly. Good luck and UTC

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Re: The wait is over - ALK Capital buy Burnley FC

Post by Roosterbooster » Wed Dec 30, 2020 11:56 pm

Cautiously optimistic about this.
I hope for 3 things:
Dyche to stay and show what he can do
Good investment in young talent
We don't lose our identity as a local club rooted in the community (this shouldn't prevent us having a bigger foothold globally, if anything I'd hope our unique position would make us attractive)
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Re: The wait is over - ALK Capital buy Burnley FC

Post by Roosterbooster » Wed Dec 30, 2020 11:58 pm

Andreshotboots wrote:
Wed Dec 30, 2020 11:53 pm
Pace out!!!! I don't like him :D
All we are saying is give Pace a chance...
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Re: The wait is over - ALK Capital buy Burnley FC

Post by Peter Loo » Thu Dec 31, 2020 12:00 am

Vary good that RB :P

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Re: The wait is over - ALK Capital buy Burnley FC

Post by Andreshotboots » Thu Dec 31, 2020 12:08 am

Roosterbooster wrote:
Wed Dec 30, 2020 11:58 pm
All we are saying is give Pace a chance...
The younger members of this board won't have a bloody clue what this means :D
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Re: The wait is over - ALK Capital buy Burnley FC

Post by Cubanclaret » Thu Dec 31, 2020 12:12 am

Is anyone else as part of the ALK team relocating to the North West. Did Pace already live in the Uk?

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Re: The wait is over - ALK Capital buy Burnley FC

Post by Myk » Thu Dec 31, 2020 12:16 am

Founded in 1892,
:?

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Re: The wait is over - ALK Capital buy Burnley FC

Post by FactualFrank » Thu Dec 31, 2020 12:17 am

Andreshotboots wrote:
Thu Dec 31, 2020 12:08 am
The younger members of this board won't have a bloody clue what this means :D
Taking that as a compliment :D

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Re: The wait is over - ALK Capital buy Burnley FC

Post by Burnleyareback2 » Thu Dec 31, 2020 12:26 am

Please don’t f**k us over.

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Re: The wait is over - ALK Capital buy Burnley FC

Post by addisclaret » Thu Dec 31, 2020 12:30 am

Well we've all been moaning we don't have enough Pace at the club. Guess that's sorted now.
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Re: The wait is over - ALK Capital buy Burnley FC

Post by ClaretTony » Thu Dec 31, 2020 12:39 am

addisclaret wrote:
Thu Dec 31, 2020 12:30 am
Well we've all been moaning we don't have enough Pace at the club. Guess that's sorted now.
Been allocated the number 17 shirt and expected to go straight into the starting line up. :D
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Re: The wait is over - ALK Capital buy Burnley FC

Post by The Enclosure » Thu Dec 31, 2020 1:06 am

Daily Mail now reporting the deal is completed.Pace to meet with Sean today (Thursday)

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Re: The wait is over - ALK Capital buy Burnley FC

Post by ClaretTony » Thu Dec 31, 2020 1:06 am

The Enclosure wrote:
Thu Dec 31, 2020 1:06 am
Daily Mail now reporting the deal is completed.Pace to meet with Sean today (Thursday)
ALK became owners at midnight
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Re: The wait is over - ALK Capital buy Burnley FC

Post by FCBurnley » Thu Dec 31, 2020 1:33 am

Wonder if Sean will make him an Omelette ?
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Re: The wait is over - ALK Capital buy Burnley FC

Post by ClaretTony » Thu Dec 31, 2020 1:35 am

FCBurnley wrote:
Thu Dec 31, 2020 1:33 am
Wonder if Sean will make him an Omelette ?
Not at this time of the night

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Re: The wait is over - ALK Capital buy Burnley FC

Post by Clarets4me » Thu Dec 31, 2020 1:35 am

Colburn_Claret wrote:
Wed Dec 30, 2020 11:25 pm
I too am glad to see MG and JB staying on the board. It will help keep the ship on an even keel, and their knowledge of Burnley and the Prem, will invaluable.

Good luck Mr. Pace, and remember , the Clarets come second only to family.

UTC
I'm fairly sure both MG and JB will have arranged the payments for their shares in a tax-efficient manner, perhaps spread over two or more tax years ...

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Re: The wait is over - ALK Capital buy Burnley FC

Post by Clarets4me » Thu Dec 31, 2020 1:37 am

FCBurnley wrote:
Thu Dec 31, 2020 1:33 am
Wonder if Sean will make him an Omelette ?
Waffles, Grits, Sausage and Eggs " over easy " might be more his style .... 8-)
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Re: The wait is over - ALK Capital buy Burnley FC

Post by HunterST_BFC » Thu Dec 31, 2020 1:40 am

Well we've been asking for an injection of more Pace for a while...
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Re: The wait is over - ALK Capital buy Burnley FC

Post by RammyClaret61 » Thu Dec 31, 2020 1:56 am

Pace out!!!

dsr
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Re: The wait is over - ALK Capital buy Burnley FC

Post by dsr » Thu Dec 31, 2020 2:25 am

Clarets4me wrote:
Thu Dec 31, 2020 1:35 am
I'm fairly sure both MG and JB will have arranged the payments for their shares in a tax-efficient manner, perhaps spread over two or more tax years ...
If they've signed a contract to sell the shares, the date of payment is irrelevant. Tax avoidance is never that simple.

ClaretAL
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Re: The wait is over - ALK Capital buy Burnley FC

Post by ClaretAL » Thu Dec 31, 2020 3:17 am

Welcome and a new progressive era starts now. Fantastic news, and Sean get the whisk out and brush up on those omelettes or is it pancakes now 😀
Last edited by ClaretAL on Thu Dec 31, 2020 4:02 am, edited 1 time in total.

Vegas Claret
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Re: The wait is over - ALK Capital buy Burnley FC

Post by Vegas Claret » Thu Dec 31, 2020 3:33 am

Sean " I need 3 players, it's gonna cost 30 - 40 million"
Pace" OK no problem"

This is what I want to happen !

DCWat
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Re: The wait is over - ALK Capital buy Burnley FC

Post by DCWat » Thu Dec 31, 2020 4:46 am

Vegas Claret wrote:
Thu Dec 31, 2020 3:33 am
Sean " I need 3 players, it's gonna cost 30 - 40 million"
Pace" OK no problem"

This is what I want to happen !
Each? :)

Vegas Claret
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Re: The wait is over - ALK Capital buy Burnley FC

Post by Vegas Claret » Thu Dec 31, 2020 5:12 am

DCWat wrote:
Thu Dec 31, 2020 4:46 am
Each? :)
:lol: :lol: :lol: :lol: I like it !!

Murger
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Re: The wait is over - ALK Capital buy Burnley FC

Post by Murger » Thu Dec 31, 2020 6:34 am

So who has the remaining 16%?

Inchy2.0
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Re: The wait is over - ALK Capital buy Burnley FC

Post by Inchy2.0 » Thu Dec 31, 2020 7:04 am

Either this is going to be really positive for the club and we about to become more competitive in the league and cups

Or

It’s going to be a disaster and we will end up by in the lower leagues


Either way it’s going to be an entertaining journey which is what football is all about

RammyClaret61
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Re: The wait is over - ALK Capital buy Burnley FC

Post by RammyClaret61 » Thu Dec 31, 2020 7:34 am

Dear ALK. Could we please please have some major international shirt sponsor next season, not some tin pot Chinese betting thingy!!
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Loyalclaret
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Re: The wait is over - ALK Capital buy Burnley FC

Post by Loyalclaret » Thu Dec 31, 2020 8:09 am

Papal Conclave
Papal Conclave
IMG_20201231_074144.jpg (1.97 MiB) Viewed 2406 times
Think it is happening - white smoke from the Turf this morning
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