By Kieran Maguire

20th Jun, 2023 | 7:46pm

Kieran Maguire hails Vincent Kompany in £90m Burnley takeover claim

The success of Vincent Kompany at Turf Moor saved Burnley from a ‘very challenging’ 2023/24 season.

That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about Burnley’s debt and the Premier League’s decision to cap leveraged takeovers.

As revealed by The Telegraph, Premier League clubs have voted to cap leveraged takeovers to 65 per cent of a club’s value.

The Premier League hope that the decision will stop new owners from piling debt onto new football clubs during a takeover.

Burnley were taken over in a £170million deal by Velocity Sports Partners (VSP), the sports investment arm of US management firm ALK Capital in 2020.

However, The Guardian report that the takeover has left Burnley £90million worse off due to the debt added to the club by new owners

The takeover has many similarities to the Glazers’ takeover of Man United in 2005 – with the US family loading £525million of debt onto the Red Devils during their tenure at Old Trafford.

Maguire believes Kompany’s appointment and success at Turf Moor saved the club from a ‘very challenging’ financial position in the 2023/24 campaign.

“Burnley’s financial situation worked out in the end,” Maguire told Football Insider’s Sean Fisher.

“But that was due to the recruitment of Vincent Kompany as manager.

“Had they not done so, and not been successful last season, I think Burnley would have been in a very challenging position in 2023/24.“

In other news, Burnley submit offer for Dortmund star Soumaila Coulibaly