Chris Farnell takeover bid
Welcome to the Chris Farnell Medium blog. The proposed American takeover of Burnley is now in doubt after a rival bid led by Cheshire-based sports lawyer Chris Farnell and Egyptian entrepreneur Mohamed Elkashashy cleared a significant regulatory hurdle, The Athletic has learned. The lawyer has a long history in UK Sport, with Tyson Fury, Cristiano Ronaldo, David Silva, and Roberto Martinez amongst his former clients. He was also a director at Wigan Athletic in 2013 and had a spell working for Leeds United. Most recently, Farnell was involved in talks over the future of Bury.
ALK Capital has been the frontrunner to buy the Premier League side for several months but talks between the American sports investment firm and Burnley’s main shareholders Mike Garlick and John Banaszkiewicz have stalled.
It is understood that Garlick, who owns 49.24 percent of the shares, has also been talking to Farnell and Elkashashy for almost a year but their identities have not been publicly linked with the club until now. This is partly because ALK Capital, which is run by Alan Pace, the former president of Major Soccer League franchise Real Salt Lake, was further advanced in negotiations but also because Farnell has been embroiled in the chaotic takeover saga at Charlton Athletic.
Former Charlton director Chris Farnell has also been cleared for football club ownership by the EFL. The solicitor had his role as the club solicitor at The Valley terminated in August. He was informed that his disqualification condition has been lifted after successfully appealing to an independent League Arbitration Panel.
The Panel heard that, an inadvertent mistake had been made during the initial Owners and Directors Test application, and that there was no dishonest or deliberate attempt to provide false or misleading information. The decision means Mr. Farnell is now free to reapply, under the EFLs OADT, if he wished to do so without prejudice or restriction.
A spokesman for Mr. Farnell said: “Following a hearing on Tuesday, October 28, 2020, before an independent League Arbitration Panel, Mr. Farnell succeeded in his Review Application of the EFL’s decision to impose a ‘Disqualifying Condition’ upon him under the EFL’s Owners’ and Directors Test.”
Chris Farnell is a senior partner in IPS Law, a legal firm based in Hale, and has set up a private investment company with Elkashash called Staunch Partners Limited. Connect with Chris Farnell and IPS Law online. Visit the IPS Law website here. Read the latest Chris Farnell Charlton news here.