Mohamed El Kashashy and Chris Farnell pulling out is good for Burnley
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The Burnley takeover saga rumbles on into 2021 after the consortium lead by Mohamed El Kashashy and Chris Farnell pulled out of the race.

That has left ALK Capital, an American sports investment firm, as the leaders to become the majority owners at Turf Moor.

It becoming a one-way contest is the best news for The Clarets, and fans should expect a deal to be completed soon.

A completed takeover would be the perfect Christmas present

El Kashashy and Farnell had not been in contact with chairman Mike Garlick for six weeks, leading to them withdrawing their interest.

ALK Capital, led by businessman Alan Pace, is waiting approval from the Premier League before going ahead with their bid.

The sooner this approval arrives, the better it will be for The Clarets.

Burnley did not spend anything in the summer, just £1 million on Dale Stephens, and failed to reach Liverpool’s estimations for Harry Wilson.

If it is completed before January - which is looking increasingly unlikely by the day – should allow Sean Dyche some funds to play with to bolster his squad.

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It won’t be too much this window, but a summer spending spree should be expected to ensure Burnley do not endure the same start to next season as they did this.

However, if the deal is not done, Garlick could dig his heels in even further and restrict any incomings in January when the threadbare squad need additions.

For too long Burnley have been content with not spending and just staying in the league. Well not anymore.

The potential owners have money to spend and will spend it wisely, and giving Dyche all the support he needs to progress Burnley even further.

The ALK Capital deal would be a wiser choice anyway

In June, Chris Farnell failed the EFL’s Owner and Director test when he was involved in a bid to buy Charlton Athletic.

However, this was overturned in October to allow him and El Kashashy to move on with proceedings to purchase Burnley Football Club.

Addicks fans jumped straight to social media when an apparent deal was announced to warn Burnley fans of what the pair were like and it doesn’t make for pretty reading.

It seems that Dyche and Burnley fans alike have dodged a bullet with the pair pulling out, and a more experienced owner in ALK Capital will be welcomed through the door.

The American investors have had interest in Sheffield United in the past and Pace has done a lot of work to improve recruitment in football and held the position of Team President at MLS side Real Salt Lake between 2006 and 2008.

His heart is in football, and is fantastic businessman who will excel in dealing with incomings and outgoings.

When will the deal be done?

With the Christmas period, the deal will unlikely be completed by the end of 2020.

This is not what ALK Capital wanted, they wanted to have their name on the door to be able to back Dyche handsomely but modestly in the January transfer window.

The deal, if it receives the required Premier League approval, will most likely be complete by the middle of next month.

Just remember, though, this is better than leaving it to the end of the month and having no new arrivals come through the gates at Turf Moor.


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