CONFIRMATION has come from Burnley Football Club that negotiations about a takeover are taking place.

It emerged in September that American sports investment company ALK Capital were in pole position to buy the club ahead of a rival US-based consortium.

But they have since been facing stiff competition from Egyptian businessman Mohamed El Kashashy, who is reported to have proposed a £200million deal to buy the Clarets.

One national newspaper last month claimed that El Kashashy and sports lawyer Chris Farnell had signed 'sale and purchase agreements' with Burnley after agreeing a deal with Burnley chairman Mike Garlick, but it is understood ALK Capital remain very much in the picture.

There has not previously been a comment from the club about the situation, but Burnley have today issued a statement.

It reads: "Regarding various comments in the media, Burnley Football Club confirms that the club's ownership remain in discussions with interested partied regarding future investment in the club.

"In full respect of ongoing processes,the club will not be providing any further commentary on this matter until those discussions have reached a conclusion.

"The club wishes to assure supporters and the local community that the future of Burnley Football Club remains the primary concern in these issues, with any potential investment needing to support the club's long term sustainability and retain its position as a cornerstone of the local community."