Appleby has advised Velocity Sports Partners (VSP), the sports investment arm of ALK Capital LLC, a US management firm specialising in investments in the sports and media sectors, with the acquisition of a majority shareholding in Premier League Football Club Burnley F.C., from, amongst others, outgoing chairman and director of Burnley F.C., Michael Garlick.
Appleby worked with their Appleby Global Services (AGS) colleagues to establish the acquisition structure, providing the client with a fully integrated legal and administrative service as part of the acquisition. Appleby and AGS worked closely with legal counsel Pinsent Masons LLP throughout the transaction.
The Appleby team were led by Corporate Partner, Andrew Weaver, assisted by Senior Associate Chris Smedley and Associate Stephen Parnell.
Andrew Weaver, Corporate Partner, Appleby said: “It has been a real privilege to work with ALK Capital and Pinsents on this high profile acquisition which positions Burnley F.C. for substantial growth and development with the support of its new majority owners. We have significant experience in complex M&A transactions and this particular deal highlights the value that Appleby and AGS can bring to acquisitions through our strong M&A practice.”
Alan Pace, Managing Partner of ALK Capital and Chairman of Burnley F.C., said: “The responsiveness and solutions driven approach that Appleby brought were a significant contribution to the timely completion of this investment. We are very pleased to have partnered with such a client focussed organisation.”