Here is all you need to know about the Premier League club Burnely owners ALK Capital, their owner and net worth
Burnley Football Club, an English association football team based in Burnley, Lancashire, will play in the Premier League, the top tier of English football, after being promoted from the 2022–23 EFL Championship.
Who are Burnley owner ALK Capital, their owner and net worth 2023
The club, which was founded on May 18th, 1882, was one of the first to become to professional status (in 1883), and as a result, it put pressure on the Football Association to permit player wages. The team made its FA Cup debut in the years 1885–1886 and 1888–1889, respectively, and was one of the original 12 teams to enter the Football League.
The team made their FA Cup debut in 1885–1886 and was one of the first 12 teams to enter the Football League in 1888–1889. The club became well-known for its youth strategy and scouting system and was among the first to create a purpose-built training facility throughout the 1950s to 1970s, under the direction of chairman Bob Lord.
Who owns Burnely?
The club incorporated as a limited company in 1897. From the time of their founding until 2020, Burnley was run by supporters and local busibusinessmen.
The sports investment arm of American management firm ALK Capital, Velocity Sports Partners (VSP), purchased £170 million for an 84% stake in Burnley in December 2020.
Later, Mike Garlick was succeeded as club chairman by Alan Pace, managing partner of ALK Capital. ALK borrowed a large portion of the takeover funds, and the club now owes ALK for the loans. Due to this leveraged buyout, Burnley’s debt-free status was replaced by debts of roughly £100 million at interest rates of about 8%.
According to The Guardian, Burnley's recent takeover by ALK Capital has left the club £90m worse off and saddled with debt.
The deal was reportedly done using the club's own money and has similarities to the Glazers' leveraged buyout of Manchester United. 😳#twitterclarets pic.twitter.com/pqHQeSQVzP
— Micky Green’s Tips (@_MickyGreenTips) February 2, 2021
In May 2023, new minority investors J. J. Watt, a former star in the National Football League of American football, and his wife Kealia Watt, a former international for the United States women’s national soccer team, were unveiled.
New Burnley investor Macolm Jenkins is a two-time Super Bowl champion with a net worth higher then former Premier League stars Didier Drogba and Fernando Torres and the 33-year-old now owns a minority share of the club after he became a stakeholder in ALK Capital, who purchased the club in December 2020.
According to Sportscasting, Jenkins is valued at $93million thanks to endorsements and an estimated $70million in career NFL earnings, having signed a $32million contract with the New Orleans Saints in March.
Board of directors
| Position | Name |
|---|---|
| Chairman | Alan Pace |
| Members | John Banaskiewicz Dave Checketts Prof. Antonio Dávila Mike Garlick Stuart Hunt Mike Smith |
Meanwhile, the Championship playoff final between Burnley and Sheffield United drew a lot of attention because both teams had already clinched automatic promotions back to the Premier League.