09 October 2012
Touchdown for deal to save the future of London Wasps
The B P Collins LLP corporate team has played a leading role in a deal to help secure the future of London Wasps Rugby Club.
The move comes hot on the heels of the summer sale of Wycombe Wanderers Football Club, which ground shares at Adams Park in High Wycombe with the rugby club.
Previous owner Steve Hayes sold his majority share ownership of London Wasps to a consortium last month (September) in a deal devised by advisers Baker Tilly.
David Smellie, partner in the corporate and commercial team at B P Collins, who acted for Mr Hayes when he sold his shares in the football club, represented him once again.
“It was a busy summer working on both these deals to ensure financial stability for our premier Buckinghamshire-based rugby and football clubs,” he said. “The deals were testing due to their complexities and time constraints, but as a big rugby and sports fan, it has been a pleasure to work on them and, with the new ownership structures in place, hopefully the performances on the pitch will strengthen as the season continues.”
Under the new consortium owners, London Wasps will continue to share Adams Park for the foreseeable future. However, the consortium has expressed a desire to transform the structure of the Premiership club, which includes the development of a new stadium.
David was assisted by associate solicitor Thomas Baines throughout both transactions.
