DLA and Dickson Minto advise on Southampton FC sale
DLA Piper has advised administrator Begbies Traynor on the sale of Southampton Football Club to Switzerland's Markus Liebherr. The deal, which was announced last week (8 July), saw DLA Piper London restructuring head Michael Fiddy advising Mark Fry and David Hudson - the administrators to Southampton Leisure Holdings - on its sale of Southampton FC to Liebherr, for an undisclosed sum.
July 16, 2009 at 05:28 AM
2 minute read
DLA Piper has advised administrator Begbies Traynor on the sale of Southampton Football Club to Switzerland's Markus Liebherr.
The deal, which was announced last week (8 July), saw DLA Piper London restructuring head Michael Fiddy advising Mark Fry and David Hudson – the administrators to Southampton Leisure Holdings – on its sale of Southampton FC to Liebherr, for an undisclosed sum.
Liebherr, who owns and controls Switzerland's Mali Group, was among a number of parties looking to take control of the stricken football club.
Dickson Minto banking partner Andrew Nuthall advised Liebherr on the deal.
Latham & Watkins finance partner Ross Pooley advised Aviva – owners of Southampton FC's stadium, St Mary's – in relation to a debt restructuring.
Fiddy, who was managing director of Fulham Football Club between 1999 and 2001, commented: "This was a tricky deal because a football club does not generate any income over the summer months and the club had to sell a couple of players to fund itself. Ordinarily a club would sell season tickets but Southampton waited until it was secure to do that."
He added: "There were a number of parties with competing interest for the club but in the end Liebherr demonstrated the ability to complete the deal. It was a difficult deal to work on but fun."
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