London boutique Wallace has landed a role opposite Slaughter and May and Herbert Smith as Sir Alan Sugar sells his stake in Tottenham Hotspur Football Club.

The 10-partner firm advised sports and media group ENIC on its £25m acquisition of Sugar's 12% stake in the football club.

Wallace managing partner Rex Newman advised long-standing client ENIC on the transaction. Herbert Smith corporate partner Mike Kingston advised Sugar's company, Amshold, which was previously the second-largest shareholder.

Newman said: "It is not that unusual for us to advise opposite big City firms. We punch above our weight in corporate. This year we have already acted opposite the likes of Herbert Smith, Slaughters and Allen & Overy several times."

Slaughters corporate heavyweight Nigel Boardman took the lead for Tottenham. White & Case corporate partner Philip Broke advised Kaupthing, financial adviser to ENIC.

The deal means ENIC, which also holds an investment in Rangers Football Club, now holds a 66% stake in Spurs. It triggers an obligation by ENIC to make a takeover offer in cash for all of the Tottenham shares not already owned by the group. ENIC has announced its intention to make the offer, which values the issued shares in the club at £210m.

Sugar took over as chairman of Spurs during the 1990s, when the club was in financial difficulty. He sold the majority of his shares to ENIC in 2001. Herbert Smith also acted for Amshold on that occasion.

Wallace has acted for ENIC for several years, most recently advising on the £96m sale of its shares in 365 Media Group to BSkyB at the end of 2006. The firm also acted on the group's take-private in 2003.