Squire Sanders, Dechert, HSF score roles on £200m Fulham FC takeover
Squire Sanders, Dechert and Herbert Smith Freehills (HSF) have advised on the takeover of Fulham Football Club by Pakistan-born US businessman Shahid Khan for a reported fee of around £200m. The deal, which has been approved by the Premier League, sees Khan take 100% ownership of the Craven Cottage club from former Harrods owner Mohamed Al Fayed on a debt-free basis.
July 15, 2013 at 06:00 AM
2 minute read
Squire Sanders, Dechert and Herbert Smith Freehills (HSF) have advised on the takeover of Fulham Football Club by Pakistan-born US businessman Shahid Khan for a reported fee of around £200m.
The deal, which has been approved by the Premier League, sees Khan take 100% ownership of the Craven Cottage club from former Harrods owner Mohamed Al Fayed (pictured) on a debt-free basis.
Khan, who also owns US National Football League franchise Jacksonville Jaguars and car parts manufacturer Flex-N-Gate, has a fortune estimated at around £1.7bn, placing him among the world's 500 richest people, according to Forbes. He was advised on the deal by a London-based Squire Sanders team comprising corporate and sports law partner David Hull and senior corporate associates Chris Watkinson and Jono Prosser.
Dechert's City office advised Al Fayed's family trust, led by London corporate head Douglas Getter and corporate partner Graham Defries, alongside corporate associate Andrew Harrow. Partners David Gubbay (tax), Jason Butwick (employment) and Philadelphia-based Abi Cohen (environment) also advised.
A HSF team led by London real estate partner Martin Dawbney along with associate David Evans advised Al Fayed on property issues.
The deal brings to an end Al Fayed's successful 16-year tenure as Fulham owner after he bought the club in 1997. His financial backing has seen Fulham rise from English football's third tier to secure promotion to the Premier League in 2001, while in 2010 the club reached the Europa League final, losing after extra-time to Spain's Atletico Madrid.
Hull commented: "Specialists across the firm came together to deliver a complex transaction in less than a month, from initial instruction to final approval by the Premier League. The deal itself illustrates just how attractive well-run and leading UK football clubs continue to be to committed international investors."
The role for Hull comes after he also advised on Indian poultry farming company Venky's 2010 takeover of Blackburn Rovers FC.
Meanwhile, Herbert Smith also took a lead role for the Al Fayed Family Trust on the £1.5bn sale of Harrods to the Qatari royal family in 2010.
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