Burnley taken over ...

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Smug in Boots

Smug in Boots

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Jan 27, 2011
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... but the two old owners remain with a stake, sound familiar?

(Does it mean that it's just a share shuffle and not really a takeover, I wonder.)

" American investment group ALK Capital has completed its takeover of Burnley, buying an 84% stake in the Premier League club.

ALK managing director Alan Pace has replaced Mike Garlick as chairman.

However, Garlick - who sold his near 50% stake in the club - and fellow former shareholder John Banaszkiewicz will remain at Turf Moor as directors."

As many people claimed, "No one will buy a relegation threatened club in the middle of a pandemic." <laugh>

I wonder how quickly the supporters groups will be putting out statements, asking for meetings, so they can explain about their passion and demands.

https://www.bbc.com/sport/football/55495853

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At least he's not just 23 eh?
 
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Smug in Boots said:
And the Mags are all over it immediately, have they no shame <doh>

"Good luck to Burnley. The EPL and the top 6 obviously don’t see them as a threat so they have granted their takeover."
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As if they actually think it’s because they would turn into a world dominating club if they got taken over hahaha unbelievable they are man .
 
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Smug in Boots said:
And the Mags are all over it immediately, have they no shame <doh>

"Good luck to Burnley. The EPL and the top 6 obviously don’t see them as a threat so they have granted their takeover."
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The EPL obviously thought the mags takeover was going to be a waste of time and they didn’t want to waste all that effort on the paper work so didn’t grant it.
 
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What’s even more interesting is that the new owners have borrowed money / planning to borrow from MSD capital to help to fund the purchase / future investment. Couldn’t make it up :D

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Southern Adam said:
What’s even more interesting is that the new owners have borrowed money / planning to borrow from MSD capital to help to fund the purchase / future investment. Couldn’t make it up :D

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amazes me that this is allowed to happen. Haven't got the capital, can't buy it.
 
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