AMERICAN sports investment company ALK Capital have emerged as the front-runners to complete a takeover of Burnley Football Club.

It is understood that two rival US-based consortiums have been bidding for ownership of the Clarets

And Reuters news agency is reporting that ALK Capital, fronted by managing partner Alan Pace, are the favourites to finalise a deal.

Pace left his position as US Bank Citi’s global head of securities services sales after 11 years in November with the intention of investing in a Premier League club.

Earlier last year Pace established ALK Capital with American businessman Dave Checketts, and has an interest in Sheffield United.

Attention has switched to Burnley and talks were said to be at an advanced stage, with the group - which includes a number of private investors - not only taking ownership but also a direct, hands-on role in the running of the club.

Burnley has historically been run by local businessmen, who are fans of the club, so this would be a huge off-field shift.