Macfarlanes has landed a role advising sports mogul Stan Kroenke on his acquision of a 50 per cent share in Arsenal Broadband.
Kroenke, who is a substantial investor in Arsenal Football Club, bought the position from television company ITV for £22.7m via his investment vehicle KSE UK. Kroenke was advised by Macfarlanes partner Rupert Casey and associate Edward Renwick.
ITV turned to longstanding adviser Lovells for the transaction, which was the last of the television company’s football asset disposals.
Partner Peter Watts and associate Hannah Condon led the Lovells team acting on the deal, working closely with ITV’s controller of commercial affairs for sport Neil Bailey and commercial and acquisitions director Tom Betts.
The deal marks ITV’s total withdrawal from ownership of football club interests. As reported by The Lawyer last month (17 March) Lovells advised the television company on the sale of its 50 per cent stake in Liverpool FC website www.liverpoolfc.tv.
That deal was led by partner Andrew Pearson with DLA Piper associate Jonathan Radcliffe representing Liverpool Football and Athletic Grounds Limited, the trading name of the football club, which bought the stake for £15.75m.
Lovells’ relationship with ITV goes back many years and was fostered by relationship partner Hugh Nineham, who left the firm earlier this year to join US firm McDermott Will & Emery.