ALK Capital make offer to buy shares of remaining shareholders in Burnley Football Club
ALK Capital, the majority owners of Burnley FC, have made an offer to buy shares owned by club supporters.
Shareholding supporters, who did not have an option to sell during the initial takeover of the club by ALK Capital’s investment arm Velocity Sports Partners in late December, should by now have received an offer, and will have 21 days to respond.
The individual shareholders, who make up approximately 6% of the total shareholding of Burnley FC Holdings, are under no obligation to sell.
Burnley Chairman Alan Pace says the club ownership felt the time was right to provide fans with an offer to exit shareholding if that is their preferred option.
The offer to supporters consists of a 50-50 split between cash and club credit - understood to be £1,699 per share, £849-50 in cash and the same amount that may be spent on ticketing, merchandise, or food and drink at Turf Moor.
Pace said: “We wanted to do the right thing by our fans and shareholders by putting together this offer.
"It would be a shame to not provide a considered offer to the group.
“It has been an incredibly busy period since we become custodians of Burnley FC, but we feel it is now worthwhile to proceed in this manner and to make an offer to purchase fan-
owned shares should the holders wish to sell.
“I want to stress, however, that this offer is purely an option for the shareholders. They are not required to sell and should not feel obliged to do so. We welcome and are happy for
them to continue their support for Burnley FC and remain part of the club shareholder group.”