Burnley set for £200 million takeover by American group, Premier League approval likely

Burnley could soon have new owners as Premier League outfit are in process of a £200 million takeover deal according to reports. American sports investment company ALK Capital and Egyptian businessman Mohamed El Kashashy as well as sports lawyer Chris Farnell have been competing for takeover for past few months, but American company is reportedly in pole position to become new owner of Clarets. takeover could happen as soon as next week as Burnley would hope that new ownership settles in ahead of crucial January transfer window.

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Burnley takeover: ALK Capital in pole position to finalise £200million deal

According to reports from Daily Mail, Burnley are preparing for new ownership and players and staff at club have been advised of same. ALK Capital, fronted by former president of MLS club Real Salt Lake, Alan Pace have been deemed as favourites for £200 million deal and are likely to receive a Premier League approval to complete ir deal. Kashashy and Farnell had appeared to be frontrunners to purchase Burnley after signing a sale and purchase agreement, along with providing proof of funds. However, y are yet to hear back from ir Premier League owners’ and directors’ test. process was furr delayed by a fresh bid from ALK Capital.

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takeover will be a breath of fresh air for Burnley and ir supporters with Sean Dyche likely to get much-needed backing in January transfer market. Clarets have struggled this season and are in relegation zone, with just one win in 11 Premier League games this season. Burnley did t make any moves in summer transfer market and saw Jeff Hendrick leave on a free, which saw ir squad stretched massively in what already is a physically and mentally challenging season. It has also been suggested that Clarets chairman Mike Garlick could remain at club in short term in a bid to ease takeover process.

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Burnley will face off against Arsenal in Premier League on Sunday, hoping to arrest ir slide as soon as possible. Clarets registered an impressive 1-1 draw against Everton and will hope to build on that performance and clinch three points at Emirates. Gunners have struggled mselves this season, and are 15th in Premier League standings, eight points off fourth place Leicester City.

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(Im Courtesy: Burnley Instagram)