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Burnley taken over ...

Discussion in 'Sunderland' started by Smug in Boots, Dec 31, 2020.

  1. Smug in Boots

    Smug in Boots Well-Known Member

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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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  2. Smug in Boots

    Smug in Boots Well-Known Member

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    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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  3. smithy in nl

    smithy in nl Well-Known Member

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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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  4. Gordon Armstrong

    Gordon Armstrong Just another S.A.F.C. fan
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    Well that's what I'm hoping for us to become following our takeover, Smithy :emoticon-0105-wink:
     
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  5. rooch 3

    rooch 3 Well-Known Member

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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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  6. smithy in nl

    smithy in nl Well-Known Member

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    I’d be happy with dominating league one atm ha
     
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  7. Southern A

    Southern A Well-Known Member

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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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  8. John Wick

    John Wick Well-Known Member

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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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