ALK moves to resolve Burnley parent company warning
Burnley owner ALK Capital says it expects to file overdue accounts in the coming weeks after the club’s parent company received a compulsory strike-off notice from Companies House.
ALK Capital says it is taking steps to resolve a compulsory strike-off notice issued to Burnley’s parent company, Velocity Capital (UK) Holdings, over accounts that are almost two years overdue.Companies House has warned that the company could be removed from the register if the matter remains unresolved, prompting ALK to confirm that its advisers are working with accountants and auditors to complete the filings.An ALK spokesperson said: “We are aware of the notice issued by Companies House and are taking the necessary steps to resolve the matter.“Our company secretarial advisers are in direct contact with Companies House and we are working closely with our external accountants and auditors to finalise the outstanding accounts.“We expect to make the necessary filings in the coming weeks and remain fully committed to bringing our reporting obligations up to date as quickly as possible.”Velocity Capital (UK) Holdings was incorporated in March 2023 and has yet to file accounts, with its first submission due by December 24, 2024.The First Gazette notice starts a process that could lead to the company’s dissolution after a statutory two-month period unless action is taken to stop it.The notice concerns Burnley’s parent company rather than the football club itself and does not mean that dissolution has already occurred.Velocity received a similar warning in February 2025, with that strike-off process discontinued within a month.ALK Capital has also previously faced strike-off notices, including in December 2022 and December 2024, which did not result in dissolution.The latest warning adds scrutiny to the ownership group’s financial reporting at a time when Burnley carries substantial borrowings.The club has reported £142m in debt, including more than £100m owed to banks and other external lenders, while auditors have previously highlighted financial flows between the club and Velocity as important to their assessment of Burnley’s ability to continue as a going concern.The outstanding parent-company accounts leave those corporate finances without the public reporting that the filings are intended to provide.Led by Alan Pace, ALK also has interests in Spanish club Espanyol through its wider football investment structure, following the acquisition of a majority stake last year.Burnley has separately experienced disruption to its commercial income after terminating its front-of-shirt agreement with trading platform Finotive shortly before the season began.The club ended that partnership after payment deadlines were missed and promoted Vertu Motors to the shirt-front position.ALK’s immediate commitment is to complete the overdue accounts in the coming weeks, addressing the reporting failure behind the latest Companies House action.