UK Law Firm Walker Morris Advises Begbies Traynor on the Sale of Wigan Athletic FC
Walker Morris’ Sports and Insolvency Teams have advised Paul Stanley, Dean Watson and Gerald Krasner of Begbies Traynor on the sale of Wigan Athletic FC and its assets to Phoenix 2021 Limited.
Walker Morris were instructed by Begbies Traynor who were appointed as administrators of the Wigan AFC group of companies in July 2020. Over the past nine months, Walker Morris has assisted the joint administrators with their appeal against the 12 point deduction, advised the joint administrators on day to day legal matters and advised on numerous proposed sales of the business and assets of the Wigan AFC group. Following the last-minute collapse of a sale to Spanish investors in December 2020, a deal was finally agreed with Phoenix 2021 Limited (a company ultimately controlled by Bahrain businessman Abdulrahman Al-Jasmi) at the beginning of March. The deal has now completed after formal approval was obtained from both the English Football League and the Football Association.
The deal ensures that all football creditors will be paid in full and that all non-football creditors will receive a dividend of at least 25p in the pound, which should result in the club avoiding any further points deduction and improve the prospects of the club remaining in League One for the 2021/22 season.
Walker Morris fielded a multi-disciplinary team led by David Hinchliffe (Head of Sports), with support from Owen Ormond (Insolvency), Andrew Maclean and Jon Cherry (Real Estate), Charlotte Smith and Adam Melling (Employment) and Christian Slinger (Sport).