UK duo kick off Plymouth Argyle investment
Simmons & Simmons and Clarke Willmott have advised on Championship football team Plymouth Argyle's move to become the latest football club selling a stake to a foreign investor. The deal saw Simmons working with its Japanese joint venture partner TMI Associates advising the investor - Kabushiki Kaisha K&K Shonan Management - on its acquisition of a 20% stake in the club. The City firm fielded a team led by corporate partner Jason Daniel, with Ryo Ito leading at TMI.
June 11, 2008 at 10:35 PM
2 minute read
Simmons & Simmons and Clarke Willmott have advised on Championship football team Plymouth Argyle's move to become the latest football club selling a stake to a foreign investor.
The deal saw Simmons working with its Japanese joint venture partner TMI Associates advising the investor – Kabushiki Kaisha K&K Shonan Management – on its acquisition of a 20% stake in the club. The City firm fielded a team led by corporate partner Jason Daniel, with Ryo Ito leading at TMI.
Clarke Willmott Southampton-based sports partner Trevor Watkins took the lead role for holding company Plymouth Argyle Football Company, as each of its four shareholders sold a 5% stake in the club.
The deal makes Kabushiki Kaisha the first Japanese investor to become involved in English football.
Daniel told Legal Week: "There have been good examples of teams from various sports accessing the Japanese market successfully through strong local partners and we hope to help Kabushiki Kaisha K&K Shonan Management Corporation develop Plymouth Argyle's Japan-related business and profile going forward."
Plymouth follows in the footsteps of a number of clubs to open their doors to foreign investment in recent years.
In 2006, Travers Smith and Hammonds advised on the £62.6m takeover of Aston Villa by US billionaire Randy Lerner, while, in 2007, Allen & Overy and DLA Piper took the lead on the takeover of Liverpool FC by US investors George Gillett and Tom Hicks.
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