Burnley chairman Alan Pace has sought to ease fan worries regarding the club's ongoing financial stability and the owners' dedication following a tough opening period. At a recent Fan Advisory Board gathering, Pace responded to broad questions about the team's path forward and its capacity to handle upcoming responsibilities.
Pace declared that the club's finances were sound and that it was ready for different possibilities. He characterized Burnley as a lasting endeavor for its owners, ALK Capital, rather than a quick project, emphasizing that key choices are made to build a stronger foundation.
On the topic of managing debt, Pace shared that a substantial sum exceeding £40 million in inter-company debt has been cleared. He mentioned this debt is decreasing and will keep falling considerably. He clarified that taking on loans is part of a viable plan to back the club's goals, and more borrowing might occur if suitable. He said upcoming financial reports would offer a more updated view for supporters.
These remarks arrive as Burnley sits at the foot of the Championship standings, having earned only a few points from their initial matches. The side has yet to secure a victory this campaign, with recent results showing a pattern of draws and a loss, featuring a tied game at home against Derby County. Pace recognized the disappointment from this opening and shared the fans' worries, connecting the struggle to the central goal of getting back to the Premier League. He conceded that keeping a squad with promotion potential is challenging when top-division income drops after parachute payments lessen.
Pace pointed out a few aspects needing betterment, drawing from insights gained during ALK's ownership period. He said stronger links are needed between the youth setup and the senior side, and that scouting and signing players must keep getting better. Building a more robust and steady football setup is a main goal, with the club always assessing how its football activities are run to provide stability even when managers change. He also thought past transitions between managers could have been managed better.
Regarding the exit of chief executive James Holroyd, Pace said it was agreed by both sides after talks. Holroyd will stay engaged with the club's community foundation. The chairman reaffirmed that the aim is still to become a solid Premier League team. With the team trailing the top side by a significant margin, the short-term aim is to get better results under boss Nicky Hayen. The squad is now aiming for a target of extensive high-intensity training before their next home game versus Sheffield Wednesday. Details on the players ready for that important match are on the squad page.
Background and full detail: Burnley Express
