US investors buy EPL club Burnley

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English Premier League club Burnley have been bought by a group of US investors.

ALK Capital's sports investment arm, Velocity Sports Partners, have bought an 84 per cent stake in the northwest English club.

ALK managing partner Alan Pace will become chairman of the team, which is based just north of Manchester.

He was previously CEO of Major League Soccer team Real Salt Lake.

"Today marks a new era for Burnley," Pace said, "as we become stewards of this historic football club and build on the impressive work that Mike Garlick, Sean Dyche and everyone at Burnley has done to make it a financially stable, established Premier League club that is a cornerstone of the local community."

Burnley are 16th in the 20-team standings, five points above the relegation zone after 15 matches of the 38-game season.

"With a rich heritage, a brilliant academy, and a passionate fan base, this club has solid foundations to build upon," Pace said. "This is the start of an exciting journey for the entire Clarets family."

American investors also own Arsenal, Crystal Palace, Fulham, Liverpool and Manchester United.