News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Hedge Funds

Ex-Citigroup and Lehman Brothers fund boss snaps up controlling stake in Burnley football club

ALK Capital has also recently invested in two London football technology businesses

Burnley FC in action at their Turf Moor stadium
Burnley FC in action at their Turf Moor stadium Photo: Getty Images

ALK Capital, a US investment fund run by former Citigroup and Lehman Brothers staffer Alan Pace, has acquired a major stake in Premier League football club Burnley.

ALK has agreed to buy an 84% stake in Burnley through its sports investment arm Velocity Sports Partners. The club's existing shareholders, including former chairman Mike Garlick and director John Banaszkiewicz, are set to remain on the board.

WSJ Logo