London - Lawyers from the London office of global law firm K&L Gates LLP have advised Aser Group on the acquisition of Leeds United’s Elland Road football stadium. The ground was previously sold by the football club in 2004 amid financial difficulties.
In a Leeds United press release, Aser Group chairman Andrea Radrizzani stated: “Today is an important day in Leeds United’s history and a proud day for me and my team. When I met with both management and supporters during my first few months at the club, the re-purchase of Elland Road was very high on their list of priorities.”
The K&L Gates team on the deal was led by real estate of counsel Steven Cox and also involved Aser Group relationship partner Warren Phelops and corporate partner John Elgar. Earlier this year, K&L Gates also advised Aser Group on the acquisition of a further 50 percent stake in Leeds United to give it 100 percent ownership of the shares in the club.
“We are delighted to have advised Andrea and his team on first acquiring Leeds and then taking back ownership of Elland Road, the famous home ground of Leeds United,” commented Phelops. “Andrea’s group’s purchase and getting back the ground are extremely positive developments for Leeds United and we are proud to have played a key role in supporting this.”
The transaction builds on K&L Gates’ global sports practice’s history of high-end work in the football industry, including the advice mentioned above to Aser Group as well as recent advice to the Bundesliga on its international media rights tender, European Professional Football Leagues, La Liga, and PUMA.