Peterborough United owner Darragh MacAnthony has sold 50 per cent of his shareholding in the club to Canada-based investors.
Peter Ellis and Nick Phillips of Beswicks Legal corporate team and sports law consultant Tim Bailey represented new co-owners Dr Jason Neale (pictured) and Stewart Thompson in the transaction.
Shares in Peterborough United, the club known as The Posh, will be held by Kelgary Sports and Entertainment, a Canadian entity through which other investors participate along with Mr Thompson and Dr Neale.
They will both serve as directors on the club’s board with immediate effect.
The investors had been actively looking at English Football League club ownership for the past two years and saw Peterborough as an ideal fit.
“Working in partnership with Clive Elkin of Canadian law firm Entrust Lawyers LLP, our Canadian counterpart, was very effective and useful in bridging the gap in terms of the time difference to ensure that there were no unnecessary delays for the client,” said Peter Ellis.
Tim Bailey added: “This was a great opportunity for us to deliver our sports law expertise both on a regulatory and commercial level. Our hands-on involvement in football puts us in good stead when it comes to advising on deals such as this.”
(Photo courtesy of Aviva Photo Studios, Liz Soergal)