Bristol legal team work on football club deal
Experts from Bristol law firm Burges Salmon worked on a deal which saw the owners of Walsall Football Club buy the ground and surrounding land.
The club now owns the stadium, the Saddlers Club and surrounding land after buying the stadium from its former owners.
Co-chairman Benjamin Boycott described the deal as landmark day in the club’s history.
He said: “The club’s home for the future in the town is secure.
“More than anything, the club owes a debt of gratitude today to its supporters, who have ultimately made this moment possible.
“They have stood behind this club throughout high points and low points on the pitch, multiple ownership changes, a global pandemic and, of course, uncertainty around the stadium. Today, they can finally say that their club has a permanent home.”
The deal follows the firm’s corporate finance team advising American sports investment firm, the Trivela Group, on the acquisition of a majority stake in the football club in May last year.
The acquisition of the stadium involved both debt and equity funding, with the debt financing being provided by First Southern National Bank in the US and the additional equity being provided by the Trivela Group, the club’s majority owner
The Burges Salmon cross firm team advising on the deal was led by Rachael Ruane, Ross Polkinghorne and Dominic Davis.
Rachael Ruane said: “We are really delighted to have advised Walsall Football Club on this transaction and look forward to supporting Trivela and Walsall FC with their future plans.”
Ben Boycott, Walsall FC’s co-chairman and Trivela Group’s managing director, comments: “It was a pleasure once again to work with the experienced, skilful and pragmatic team at Burges Salmon for the completion of WFC’s property acquisition.
“They have now guided us as a foreign investment firm through two fairly complex transactions in the UK, including the acquisition of the club and the club’s acquisition of the property, with multiple different sources of capital and several parties involved. They provided sound counsel and a steady hand throughout a complex process, and I look forward to continuing to work with them on future transactions.”