Arsenal turns to Slaughters for Fàbregas sale

Slaughter and May partner Andrew Jolly has advised Arsenal Football Club on the sale of captain Cesc Fàbregas to FC Barcelona.

The deal, worth up to £35m, sees the European champions snatch the Spanish midfield player on a five-year contract.

The north London club is set to earn £29m from the sale of the 24-year-old and an additional amount if Barcelona win two La Liga titles and a Champions League in the next five years. The contract also includes a buy-out clause at just over £175m.

FC Barcelona is understood to have relied on in-house advice for the deal.

Slaughters is Arsenal’s firm of choice, with Jolly and fellow corporate partner Nigel Boardman leading advice on player transfers, M&A and the financing of the Emirates Stadium (2 May 2011).

Jolly advised the club on the sale of striker Thierry Henry to Barcelona in 2007 and the transfer of Emmanuel Adebayor and Kolo Touré to Manchester City in 2009.

He also acted for Arsenal FC opposite Clifford Chance on Stan Kroenke’s £731m takeover of the club earlier this year (13 April 2011).

Meanwhile, Berwin Leighton Paisner litigation partner Graham Shear acted for Spanish side Atlético Madrid on financing related to the £35m sale of striker Sergio Agüero to Manchester City. Manchester City FC was advised in-house by general counsel Simon Cliff.