LAW FIRM Hammonds has advised on the successful acquisition of a Midlands football club by a Thai-based consortium.
Corporate partner David Hull led a team from the firm advising Leicester City owner and chairman Milan Mandaric, as well as the club’s management on the acquisition, which is for an undisclosed sum.
Asia Football Investments is a consortium headed by Thai businessman Aiyawatt Raksriaksorn. Mr Raksriaksorn owns the King Power Group, the duty-free empire. King Power Group last week secured a three-year shirt sponsorship deal with the Championship club.
The deal marks another major football club transaction for Hammonds. The firm has previously advised on the sales of both Birmingham City and Aston Villa.
The Leicester deal sees Mr Mandaric remain chairman of the club and a stakeholder in the new consortium. He said that the deal would bring “new strength and energy to Leicester and offers a tremendous opportunity for supporters and the club”.
Mr Hull, a sports specialist, recently advised the club – a longstanding Hammonds client – on the appointment of new manager Paulo Sousa and has been involved in player negotiations.
He said: “It is always rewarding to help secure an exciting future for a major football club. This was another chance for us to use our extensive football league experience to get the deal done on a very tight timescale from the initial agreement at the beginning of July.”
Also involved on the team from Hammonds were partner Stephen Sampson and corporate associates James Bryce and Jonathan Rogers. Tax advice was provided by partner Patrick Ford.
David Mandell, partner at Mandell Corporate, a specialist transactional boutique, advised the Thai consortium on the acquisition.
Going forward, Hammonds will continue to be Leicester City Football Club’s principal legal adviser.
The law firm also advised on the purchase and sale of Manchester City Football Club in 2007/8.
