Burnley’s new owners pledge to back Sean Dyche

ALK Capital have completed their takeover of the Clarets, acquiring a controlling 84 per cent stake in the club, after the deal was approved and ratified by the Premier League.

Pace, who succeeds Mike Garlick as chairman, revealed ALK had been “very, very big fans” of Dyche “for some time” – and stand ready to give the green light to fresh investment in the squad during the January transfer window.

Garlick, who had held just less than 50 per cent of the club’s shares, will remain on the board of directors and felt the deal represented a “natural progression” for Burnley.

Commenting on the possibility of adding to his injury-reduced squad, and speaking before confirmation of ALK’s completed takeover, manager Sean Dyche had been somewhat cautious.

“If there are things in the market we think we can align, we will,” he said. “If there’s not, we’ll keep operating with the group we’ve got.”

Investors pull out of Newcastle United takeover

The announcement comes after almost four months of waiting, with the drawn out nature of the deal putting off the potential new investors.

A statement from the Saudi Public Investment Fund, the Reuben Brothers and PCP Capital Partners – who make up the consortium involved in the takeover – read:

“With a deep appreciation for the Newcastle community and the significance of its football club, we have come to the decision to withdraw our interest in acquiring Newcastle United Football Club.

“We do so with regret, as we were excited and fully committed to invest in the great city of Newcastle and believe we could have returned the club to the position of its history, tradition and fans’ merit.

“Ultimately, during the unforeseeably prolonged process, the commercial agreement between the Investment Group and the club’s owners expired and our investment thesis could not be sustained, particularly with no clarity as to the circumstances under which the next season will start and the new norms that will arise for matches, training and other activities”

The news ends speculation over Steve Bruce’s future as Magpies manager, and will see Newcastle start next season with a similar budget to the one they had this campaign.

Newcastle fans around the globe are furious at the Premier League’s lack of communication throughout the owners and directors test, which was expected to be complete after a maximum of four weeks.

The test began in April.

MP writes to Premier League over slow Newcastle takeover

Member of Parliament for Jarrow, Kate Osborne, has claimed the Premier League’s delay in approving the takeover has caused ‘mental anguish’ in her constituency.

The consortium involved in the prospective acquisition of the Magpies, which involves Amanda Staveley and the Reuben brothers as well as the Saudi Arabian Public Investment Fund, are awaiting the result of the Premier League’s owners and directors test.

The proposed £300m deal for the club has been in the pipeline since April, and the delay in communication from the Premier League has caused annoyance and concern among some Newcastle fans.