Nabarro and Slaughter and May have advised on the new Arsenal Fanshare scheme, which will see portions of shares in the club made available to supporters at affordable prices.

Nabarro was first instructed in 2008 by the Arsenal Supporters' Trust to structure the scheme, which will allow fans to pool money and own units of shares which would normally be out of the financial reach of the average supporter.

Arsenal has approximately 62,000 shares currently trading at £10,000 each, but the Fanshare scheme will enable individuals to put in anything from £10 to £1,000 a month, with a minimum total payment of £100 for one 'fanshare'.

Nabarro corporate partner Glyn Taylor – a member of the Arsenal Supporters' Trust and now also a board member of the Fanshare scheme – led the firm's team assisted by financial services associate Jake Green.

Taylor commented: "It is a groundbreaking and unique scheme which has taken a long time to reach fruition. We hope that other clubs will consider taking up similar initiatives."

Slaughters advised Arsenal on the scheme – the launch of which was announced on Arsenal Members' Day earlier this month (5 August) – with sports head Andrew Jolly leading the magic circle firm's team.

Slaughters has a longstanding relationship with Arsenal, and has advised the club on a number of high-profile deals including last year's £25m transfer of striker Emmanuel Adebayor to Manchester City.

Jolly commented: "The work we do with Arsenal is always enjoyable. Our role for the club was to review the scheme set up by the Arsenal Supporters' Trust, which is a separate organisation to the club, to make sure it was legally set up correctly. It has been a long time in the making but will enable like-minded fans to be able to pool resources to seek to own part of a share in the club."

Arsenal is currently majority owned by four shareholders, including US entrepreneur Stan Kroenke and Uzbek-Russian mining and minerals billionaire Alisher Usmanov.

In return for their investment, fanshare owners will be able to attend the club's annual general meeting, ask questions of the directors and vote on policy.

Eversheds also took a role on the deal, advising share trading company Equiniti, the Fanshare scheme administrators.