Lovells has maintained its relationship with ITV following the departure of relationship partner Hugh Nineham, advising the company on the sale of its share in Liverpool FC website www.liverpoolfc.tv.
Partner Andrew Pearson led the team acting on the deal, which saw ITV sell its 50 per cent stake to the club for £15.75m. Liverpool Football and Athletic Grounds Limited, the trading name of the football club, was advised by DLA Piper associate Jonathan Radcliffe.
Pearson, who has had a relationship with ITV since 1999, said the sale was part of ITV’s ongoing strategy of disposing of non-core assets and football club interests.
“I advised ITV last year when the Americans took over Liverpool and ITV sold its 9.99 per cent stake,” he said. “This is the leftovers from that transaction.”
Pearson said that from a transactional point of view the sale was relatively straightforward, although he added that as ITV had been involved with Liverpool since the 1990s there were a number of complex commercial arrangements that had to be unravelled before the sale could complete.
“This was bringing to an end an ongoing commercial relationship, so there were lots of loose ends,” he said.
Pearson was assisted on the deal by senior associate Jim Harper and associate Lorraine Munday.