THE Clarets Trust looks set to hang on to its shares in Burnley Football Club.

The new American owners of Turf Moor ALK Capital have made an offer to buy shares owned by supporters of the club.

The US investment group, headed by chairman Alan Pace, bought a controlling stake in the club last December.

Around six per cent of the club is still owned by individual shareholders.

Now the Clarets Trust supporters' group's board have decided to recommend it keeps its stake in Burnley FC.

Chairman and former Burnley MP Peter Pike has called a Zoom meeting for all members on Sunday October 17 at 6.30pm to ask them to confirm the decision.

He said: "Members will know that the new owners of Burnley Football Club have invited minority shareholders in the club to sell their shares.

"This is a choice for those shareholders and not compulsory. There is a closing date for acceptance of this offer of October 24.

"The offer is £1,699 per share payable half in cash and half in a credit at the club shop.

"The trust holds 176 shares.

"The trust board has met and considered all possible options. Rule seven of our governing document makes it impossible to share such funds amongst our members.

"Rules also indicate that if we were to wind up the trust, funds would not go to members but to some charity, etc, associated with our aims and objectives.

"After careful thought and consideration it was agreed by the board that we should retain all our shares and should report accordingly to our members.

"Retaining our shares would enable the trust to work together with the club in a positive way for the future for the supporters, club and trust."