A LIFELONG fan who failed in a £12million buyout of Burnley Football Club, after it was revealed he did not have the funds, has died.

Peter Shackleton tried to buy the club in 1998 and was chosen as the preferred bidder.

But, after missing months of deadlines, he was exposed as being unable to name his backers, or raise the funds.

Mr Shackleton, who died aged 59 of cancer, lived in Derby and was the founding principal of a technology college in the city early in the 1990s.

He dominated the headlines through much of March and April 1998 after beating off competition from American-based millionaire Ray Ingleby to be named as the club’s preferred bidder as the Clarets went through a difficult financial time.

He went on a charm offensive with supporters and members of the board, but eventually it emerged that he was unable to buy the club.

Later that year, Barry Kilby snapped up shares to earn a place on the board, and is today chairman of the Clarets in the Premier League.

Peter Pike, chairman of supporters group the Clarets Trust, said: “He was a big Burnley fan.

“I remember he tried to buy into the club but, ultimately, was unable to raise funds.

“At the time I was anxious for a Burnley fan to be on the board and we eventually got that, but I think Peter Shackleton certainly had the best interests of the club at heart.”

While launching his takeover attempt it was, at one point, thought that Mr Shackleton could have a fortune running into billions of pounds to invest in the club, having made contact with big financial hitters while trying to raise money for the college, Landau Forte, in Derby.

Mr Shackleton is survived by his widow, Sue, and children Martin, Laura and Katy.

His daughters, who have been moved by the support they have received from Macmillan Cancer, have launched a bid to raise £15,000 for the charity.

A private cremation took place today, and was followed by a memorial service for former friends, pupils and colleagues at the college.