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Burnley 'set for £200m takeover from new firm led by former Charlton lawyer Chris Farnell after talks with US-based consortium stalled'

Burnley's takeover by an American consortium looks to be on the rocks as a rival firm have been cleared to press ahead with a £200m bid for the club, reports claim.

The Premier League outfit looked certain to be purchased by ALK Capital, run by former Real Salt Lake chief Alan Pace, but talks with chairman Mike Garlick and director John Banaszkiewicz have hit a snag, according to the Athletic.

Now sports lawyer Chris Farnell and Egyptian businessman Mohamed Elkashashy are set to push their own bid through, the report adds, after the former successfully overturned a ban on becoming a director at an English football club having been involved in a turbulent takeover at Charlton earlier this year.