Clarets Could Be Back On The Market As ALK Capital Look For Buyers
According to reports in a national newspaper, Burnley Football Club owners ALK Capital have asked London financiers to find new investors or even prospective buyers for the football club. Just over a year ago the American company completed a £170 Million takeover and financial alarm bells are now ringing loudly around Turf Moor.
SunSport revealed it has already been made clear to boss Sean Dyche that ANY of his players will be sold this month if clubs come up with the right valuation. Striker Chris Wood already moved on after fellow strugglers Newcastle United activated his £25M release clause.
Others, like winger Dwight McNeil and England defender James Tarkowski who is in the final months of his contract could also be sold to raise much needed funds for the club. Nine other Clarets are out of contract this summer, which could mean manager Sean Dyche will have to rebuild the squad before the start of next season with limited funds.
ALK Capital took over in a leveraged buyout, borrowing £60m from US tech billionaire Michael Dell, they also mortgaged future TV payments to fund the deal that saw them buy 84 per cent of the club. Meanwhile, former owners Mike Garlick, John Banaszkiewicz and a collection of minor previous shareholders are still awaiting payments of £102m.