Cynosure Checketts Sports Capital, the newly launched private equity fund co-founded and managed by experienced sports investor David Checketts, has acquired a stake in ALK Capital, the parent company of English soccer’s Burnley, and Spanish side RCD Espanyol.
Checketts, the co-founder of Major League Soccer’s Real Salt Lake (RSL), is now investing $200 million into ALK Capital’s soccer operations, having previously worked with ALK’s founder, Alan Pace. Indeed, Pace spent 20 months as acting interim president at RSL, with the pair leading the club to its first championship in 2009.
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Alongside RSL, Checketts co-founded NHL ice hockey’s St. Louis Blues and served as president of the NBA’s Utah Jazz. He also led the basketball team, the New York Knicks, and later, the Madison Square Garden Company.
Pace, also ALK’s managing partner, has now said: “It’s incredibly rewarding to reunite with Dave after our success together at Real Salt Lake.
“We share the same vision for what great sports ownership looks like – combining integrity, innovation, long-term value creation, and championship culture.”
Checketts added: “Alan and I have known each other for decades – as partners, colleagues, and friends.
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By GlobalData“We built Real Salt Lake from the ground up, and now we can collaborate once again on two of Europe’s most historic football clubs.
“I’ve long admired what Alan has accomplished with Burnley and more recently with Espanyol. We’re thrilled to join forces to support their continued growth and global ambitions.”
The deal marks Cynosure Checketts Sport Capital’s first investment, with the fund currently targeting $1.2 billion for sports-related investment across professional teams, leagues, media, and technology.
The transaction also builds on Checketts' involvement with Burnley, having served on the board since ALK’s acquisition of the English club in 2020, during which time they have been relegated and promoted twice, currently playing in the top-tier Premier League.
The partnership will focus on driving sustainable growth, commercial expansion, and performance improvement across both clubs.
The acquisition comes after ALK acquired a majority stake in Espanyol from China-based Rastar Group earlier this year. Since then, the company has been actively seeking equity investors to buy into its multi-club project.
There is a growing trend of multi-club ownership groups, led by City Football Group, which owns 13 teams worldwide. Blue Co., the holding company of English club Chelsea, acquired Stasbourg, while Bill Foley, owner of the Premier League’s Bournemouth FC and A-League’s Auckland FC, has stakes in French Ligue 1 club Lorient, Scottish Premiership club Hibernian, and Primeira Liga club Moreirense FC.
The deal also reflects the growing influence of US private capital in European soccer, with almost half of the English Premier League’s 20 clubs now owned by US investors, including a majority stake in Crystal Palace recently acquired by Woody Johnson, owner of the NFL’s New York Jets.
