The wait is over - ALK Capital buy Burnley FC
Posted: Wed Dec 30, 2020 11:05 pm
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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.
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.
