NEW Burnley chairman Alan Pace says he no longer expects manager Sean Dyche to be frustrated by finances.

Dyche has been perplexed by a lack of transfer budget in his eight-year tenure and the club being on the back foot when it came to contract negotiations, in particular, last season when Jeff Hendrick was allowed to leave for Newcastle United on a free transfer.

But after American sports investment company ALK Capital - of which Pace is a managing partner - last week completed a £200million takeover, backing the boss has become a priority, particularly with the timing of their takeover coinciding with the January transfer window.

In his first press conference, held this afternoon, Pace said: “I don’t expect Sean to be frustrated. I can answer that directly.

"I hope he will be pleased with the way we can support him and interact with him, and that will be our efforts on a constant basis.

“He does have some things he’s looking at. We’ll support him in what he’s looking at and if he wants to go forward, we will be there to support him.”

He added: “Short term, we stay in the Premier League and do a really good job in this window. Longer term, we want to be Britain’s favourite underdog team.”

Pace has been impressed with how Dyche has helped Burnley punch above their weight in the Premier League.

The pair were not permitted to have contact until the takeover was complete, and Pace was pleased with how their first, long-awaited, meeting went.

"I thought it went well. I’ve been looking forward to it for quite some time,” said the chairman.

“He knows that I am a big supporter.

“We like consistency, we like longevity and we see what an amazing manager he is and leadership is really important to us.”

Burnley has historically been run by local businessmen who are Clarets fans. But unlike some other foreign investors in the Premier League Pace has vowed to be hands on, and has even moved to the Ribble Valley to be close to the club, although he will continue to split his time between London and New York.

Asked what set himself and ALK apart from other foreign investors he said: “The main reason is I don’t think you have ever seen anyone like me and you certainly haven’t seen someone like me come in and run a football club and live in the community.

“I think you’re going to have a level of interaction if you’re a fan and you’re local which will be very different.

"We honestly do mean it when we say we are concerned about the long-term financial viability of this club if we were a family member. So we’re not going to do stupid stuff. We may say silly things, but we believe we are going to act differently.”

ALK financed the deal with a loan structure registered at Companies House allowing them to borrow from MSD Holdings - owned by tech billionaire Michael Dell - using Turf Moor as security. But Pace moved to quash any concerns among supporters by saying: “I do believe there is a way to be financially responsible in your dealings which is sustainable.

“The loans involved in this transaction are reasonable and absolutely in line with what can be supported by this club, and will not take away from the ability to operate on a daily basis.”