Transaction: BWB acted for The Alan Edward Higgs Charity (“Higgs Charity”) on the sale to London Wasps Holdings Limited of its 50% joint-venture interest in Arena Coventry Limited (“ACL”), manager of and holder of the long-leasehold interest in the Ricoh Arena, Coventry. BWB negotiated the sale documentation and advised on the deal structure in light of the joint venture arrangements.
Client: The Higgs Charity was established in 1979 to benefit the inhabitants within a 25 mile radius of Coventry. In 2003, it acquired 50% of ACL from Coventry City Football Club as the football club could not continue to fund the necessary investment in the Ricoh Arena.
Lawyers: David Davies (corporate) led the team, supported by Samantha Horsfall (Corporate), Malcolm Robson (Disputes Resolution), Thea Longley (Charity and Social Enterprise), Tom Pratt (Charity and Social Enterprise) and Nick Ivey (Real Estate)
Observations: This sensitive transaction was effected in full view of the national press and key stakeholders, including the fans of Wasps and Coventry City Football Club.
Posted on 21/11/2014 in Corporate & CommercialBack to Knowledge