Burnley’s problems following their defeat against the Imps have extended beyond the dugout, with a company in their ownership structure reportedly facing a compulsory strike-off warning.
The Clarets dismissed Nicky Hayen after Saturday’s loss to City, bringing his spell in charge to an end after 14 matches. Now, according to City AM, overdue accounts at Velocity Capital (UK) Holdings have prompted action from Companies House.
Overdue accounts prompt warning
Velocity Capital (UK) Holdings sits above Burnley FC Holdings in the club’s ownership structure. Companies House records show its first accounts, covering the period to March 2024, were due in December 2024 and remain outstanding.
City AM reports that the company risks being dissolved if the issue is not addressed within the statutory two-month period. Any assets remaining in the company’s ownership at dissolution would pass to the Crown.
There is a previous example of the company resolving such a warning. Its filing history records a compulsory strike-off notice in February 2025, followed by confirmation in March 2025 that the action had been discontinued.
The latest report therefore concerns a process which can be stopped, although the outstanding accounts still need to be addressed.
City AM puts Burnley’s borrowings at £142m, including more than £100m owed to banks and other external lenders. It also reports that auditors have previously identified money moving between the club and Velocity Capital as an important factor in assessing whether the business can continue as a going concern.
The publication suggests the accounting delay may be connected to the complexity of the ownership arrangements and balances between companies following the 2020 takeover.
Changes continue after defeat to City
Burnley’s immediate football problem is finding a replacement for Hayen while trying to climb out of the Championship’s bottom three. They have won just one of their opening 12 league fixtures.
There has already been a change above the coaching staff, with Diego Lopez arriving from Genoa as chief football officer this week. Burnley say his responsibilities include football operations, recruitment and the club’s sporting structure.
The summer also brought disruption commercially. Trading platform Finotive was announced as the club’s shirt sponsor in July, but the agreement was ended before the season began after payment deadlines were missed. Vertu Motors subsequently took over the sponsorship.
Alan Pace’s ALK Capital is central to Burnley’s ownership arrangements, with the wider group also holding a majority stake in Spanish club Espanyol.
The latest report adds a separate issue for their owners to resolve, with the previous strike-off action showing that there remains a route to dealing with the warning before dissolution.
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