ALK Capital complete £170M takeover of Burnley: A new era | OneFootball

ALK Capital have completed the purchase of Burnley.

Incoming chairman Alan Pace is set to speak with manager Sean Dyche on Thursday after the American management firm concluded the deal in time for next month's transfer window.

ALK purchased a controlling 84 per cent stake for around £170million, reports the Daily Mail.

Pace, 53, was formally managing director at Citi bank and chief executive of Real Salt Lake as they won the MLS Cup in 2009.

After the deal was announced, Pace said: "Today marks a new era for Burnley as we become stewards of this historic football club and build on the impressive work that Mike Garlick, Sean Dyche and everyone at Burnley has done to make it a financially stable, established Premier League club that is a cornerstone of the local community.

"With a rich heritage, a brilliant academy, and a passionate fan base, this club has solid foundations to build upon."

Former shareholders Mike Garlick and John Banaszkiewicz will remain as directors at Turf Moor to ensure a smooth transition in ownership.

Garlick has been in control of the Lancashire club, with Banaszkiewicz as co-chairman, since 2012.