November 30, 2021

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Burnley after the Takeover by ALK Capital

3 min read

With the takeover of Burnley by ALK Capital, there have been some changes going around, not only in personnel but also in financial situations. Alan Pace has replaced Mike Garlick as the Chairman of Burnley Football Club and there have been some financial changes that have followed. Given below are some of the things that Alan Pace has given his opinions upon after becoming the Chairman of this football club.

What are the changes which Alan Pace plans to bring post the takeover?

  • With Wigan Athletic Football Club battling their way through administration and Derby County Football Club in a serious financial crisis with considerable losses and increasing debts, the suggestion of an independent regulator has been reinforced. Pace is not sure about how right that would be for the game. In his opinion, accountability and responsibility lie together and it is extremely important that it is properly and patiently decided how football and ownership would preferably look like rather than making a hurried decision. Alan Pace said, “I feel very strongly that, if you get the kind of opportunity we have, you have a responsibility to be held accountable for delivering on what you said you were going to do. This isn’t just a play thing, it isn’t just a toy. It has to be here when you are done with it.
  • “The new Burnley Chairman has given the confirmation that fans are not obligated to sell their shares. He informed that it was estimated from social media posts that more than half of the shareholders were interested in selling their shares. ALK had only given the offer to sell their shares during the takeover to the former chairman Mike Garlick along with the director John Banaszkiewicz who were the major owners of the club. ALK were criticized a lot for this action. Pace has assured that shareholders would get a chance to sell shares after the twenty-one day deadline is over. It would be possible through some mechanism of Pace’s design. The Burnley Chairman has said that ALK would not be purchasing the shares, but it would be the shareholders who would be transacting among themselves or there would be new buyers. He said that there is no guarantee or promise that ALK would buy more shares and they are doing it out of a sense of fairness.
  • Alan Pace understands the importance of maintaining stability. For this very reason manager Sean Dyche, who has been the boss for the longest period would be in the same place for the next four years. Pace has mentioned that stability is helpful for planning but he has also mentioned at the same time that everyone would be accountable for the jobs they are responsible for. If things do not work properly people could definitely lose their jobs.

Conclusion:

Every follower of Burnley Football Club would definitely expect that all the changes in the ownership of the club would affect the performance in a positive way both in terms of the financial situation and also the situation on the field.

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