The US owner of Premier League side Burnley FC has offered to purchase fan-owned shares in the club.
Management firm ALK Capital became the majority owner of the Lancashire club at the end of 2020 after they were acquired by its sports investment arm, Velocity Sports Partners.
In a statement, Burnley chairman Alan Pace said "the offer is the right thing to do" but "stressed there is no-obligation to sell".
Shareholding supporters who did not have an option to sell during the initial takeover of the club have today received an offer and will have 21 days to respond.
The individual shareholders, who make up approximately 6% of the total shareholding of Burnley FC Holdings, "are under no obligation to sell", the club said.
Mr Pace added the club ownership "felt the time was right to provide fans with an offer to exit shareholding if that is their preferred option".
The offer to supporters consists of a 50-50 split between cash and club credit which can be spent on ticketing, merchandise, or food and drink at Turf Moor.
Mr Pace said: "We wanted to do the right thing by our fans and shareholders by putting together this offer. It would be a shame to not provide a considered offer to the group.
"It has been an incredibly busy period since we became custodians of Burnley FC, but we feel it is now worthwhile to proceed in this manner and to make an offer to purchase fan-owned shares should the holders wish to sell.
"I want to stress, however, that this offer is purely an option for the shareholders. They are not required to sell and should not feel obliged to do so.
"We welcome and are happy for them to continue their support for Burnley FC and remain part of the club shareholder group."
