Burnley’s owner, Alan Pace’s ALK Capital, has attracted a further £150m injection from an early backer of its Premier League project, Dave Checketts.
Checketts, who enjoyed success with Pace as president of his Major League Soccer side Real Salt Lake, has invested in ALK Capital following its takeover of Spanish club Espanyol.
It is among the first investments of Cynosure Checketts Sports Capital, the private equity vehicle set up by the veteran sports executive to plough £900m into teams, leagues and venues.
“It’s incredibly rewarding to reunite with Dave after our success together at Real Salt Lake,” said Pace, managing partner of ALK Capital.
“We share the same vision for what great sports ownership looks like – combining integrity, innovation, long-term value creation, and championship culture.”
Checketts has been a board member and investor at Burnley since ALK’s takeover in 2020, during which time they have been relegated and promoted twice.
Checketts teams up with ALK and Pace again
ALK offshoot Velocity Sports Partners completed a cash-plus-equity takeover of Barcelona-based Espanyol, who currently sit sixth in LaLiga, last month.
“Alan and I have known each other for decades – as partners, colleagues, and friends,” said Checketts, who has also worked extensively in the NBA.
“We built Real Salt Lake from the ground up, and now we can collaborate once again on two of Europe’s most historic football clubs.
“I’ve long admired what Alan has accomplished with Burnley and more recently with Espanyol. We’re thrilled to join forces to support their continued growth and global ambitions.”
Burnley currently lie 17th in the Premier League after 10 games back in the top flight following their promotion as runners-up in the Championship last season.