Reuters are claiming that two rival American consortiums have reportedly been bidding for ownership of Burnley, and it is believed ALK Capital - fronted by managing partner Alan Pace - are favourites to strike a deal, reports the Burnley Express.

In November, Pace, Citi's global head of securities services sales, left the US bank after 11 years, with hopes of investing in a Premier League club.

Earlier in 2019, Pace set up ALK Capital with US businessman Dave Checketts, with ALK keen on buying Sheffield United.

Talks between ALK and Burnley are believed to be at an advanced stage.