Walker Morris advises Cellino on sale of 50% stake in Leeds United

Walker Morris advises Cellino on sale of 50% stake in Leeds United

Specialist sports lawyers at Walker Morris have advised Massimo Cellino on the sale of 50% of the shares in Leeds United football club to Greenfield Investment Pte, which is owned by Italian businessman Andrea Radrizzani.

Following the acquisition Greenfield Investment Pte will be the co-owner of the club with Eleonora Sport, which is run by the Cellino family, which retains the other 50% stake.

Walker Morris said that the deal reaffirmed its sports team’s national reputation as one of the UK’s leading sports law practices. In the last 18 months, the team has advised on three Premier League and seven Championship club acquisitions or sales including Crystal Palace, Reading, Bolton Wanderers and Sale Sharks Rugby Club.

David Hinchliffe, head of sport at Walker Morris, said: “This acquisition is great news for everyone involved with Leeds United including the club, the players and the fans. The club has a strong heritage and a clear aim to return to the Premier League.

Mr Radrizzani has, alongside Massimo Cellino, offered his full support to manager Garry Monk and both owners are committed to making Leeds United as successful as possible.”

“The Walker Morris Sports Group is delighted to start 2017 with the same run of success it had in 2016 and continues to build on its national reputation for managing complex football club acquisitions through to a successful conclusion. We are very proud to have been involved in this particular deal, which will provide a platform for Leeds United to regain its place as a football giant.”

Commenting on the transaction Cellino said: “The Walker Morris team has worked really well with the club for the past few years, so we were delighted to have their support again.

“This was a complex transaction and Walker Morris delivered commercial, pragmatic advice throughout. Their strategic and innovative thinking ensured the transaction was completed.”

The Walker Morris Team comprised Katie Read and Christian Slinger and was supported by Owen Ormond (finance), Nicola Parkinson (tax), Jeremy Moore, Andrew Maclean (real estate), John Hamer (corporate) and Zenia McDermott (regulatory).

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Mark Dugdale

Mark is the Editor of Yorkshire Legal. Mark welcomes articles, letters or feedback from readers and can be reached by emailing mark.dugdale@barkerbrooks.co.uk