A team of lawyers at Harrogate-based McCormicks Solicitors has completed a successful sale of the majority shareholding of League One football club, Wycombe Wanderers.
McCormicks is known for its expertise in sports law, particularly football, and the successful sale is the culmination of six months’ work by the firm on behalf of the club, Wycombe Wanderers Supporters Group Limited and Frank Adams Legacy Limited, a subsidiary of the Trust, which owns the football stadium.
The transaction was completed by James Towler and Emily Steed of McCormicks’ Corporate and Commercial department and Heather Roberts, head of Commercial Property.
James, who heads the Commercial team, said:
The transaction involved the investor Feliciana EFL Limited, a company owned by Rob Couhig and his family, taking a 75 per cent stake in the Club at completion, which enabled our clients to repay all debt in their companies. Feliciana have also committed to provide financial facilities to the Club to support its future activities.
The club is currently in third place in League One.
The deal means that our clients are in good shape for the future. If they continue their run of success in League One, they have a good chance of promotion to the Championship at the end of this season.
Trevor Stroud, who, as Chairman of both the Football Club and the Supporters Trust, led the negotiations with Feliciana, said:
We are deeply indebted to James Towler, Emily Steed and Heather Roberts at McCormicks, Solicitors, who advised us throughout what proved to be a complex transaction.
Their deep knowledge of the legal intricacies of the football world was of enormous help to us during the extended negotiations, and they were a pleasure to deal with.
Their advice was always clear, pragmatic and constructive, and enabled us all to focus without distraction on the key issues which needed to be resolved. We really appreciate the way they handled the transaction for us.
McCormicks has long held a strong reputation in football matters. Senior Partner Peter McCormick has been a member, then Chairman of, the Legal Advisory Group of the Premier League since 1996 and is also Chairman of the Football Board. He is Vice-Chairman of the FA. The firm acts on behalf of a number of clubs, including Leeds United, and is currently working on a number of other football-related instructions.