Consortium Secures Daggers Future with InvestmentPrint news article
Walker Morris sports lawyers advise on acquisition of majority stake in Dagenham & Redbridge Football Club
The specialist sports team at Walker Morris has advised FC Sports Investments 2018 Limited on its purchase of 58% of the share capital of Dagenham & Redbridge FC 2017 Limited.
The new consortium, FC Sports Investment 2018 Limited is a company led by Peter B. Freund, Craig Unger with input from former Premier League goalkeeper, Tim Howard. The group has already had a successful launch of professional soccer in Memphis, TN with the United Soccer League’s Memphis 901 FC, a division II club. Peter and Craig’s many years of operational experience, both owning and operating professional sports franchises throughout North America, and Tim Howard, with his expansive career in English football playing in the Premier League for 13 years with Everton and Manchester United, will seamlessly compliment the Dagenham & Redbridge management already in place.
The new structure of the Dagenham & Redbridge board will see Peter Freund as Executive Chairman of the Football Club, while Paul Gwinn JP will remain as Chairman. Steve Thompson will remain as Managing Director and the remaining Directors will be Craig Unger, Dave Bennett and Mark Odams.
The Walker Morris team was led by David Hinchliffe and Geoff Cunningham and supported by Christian Slinger, Liz Coley, Katie Reed and Matt Lingard.
Head of the Walker Morris Sports Team, David Hinchliffe, commented:
“It’s fantastic to be a part of another deal in the National League where our team helped to secure the future of another famous football club”
Peter Freund added:
“Victoria Road Football LLC and FC Sports Investments 2018 Limited were advised by boutique investment bank Inner Circle Sports of New York City and Leeds based Walker Morris solicitors both of whom have provided invaluable support and advice.”
Club Chairman Paul Gwinn has stated:
“Following on from a turbulent period in the Club’s history we are very pleased to welcome Peter Freund and his partners who will bring a wealth of expertise to the club. I would like to go on record to thank Steve Thompson for not only steering the club throughout this period but for being instrumental in securing this investment. We hope that with our finances stabilised and a promising young side under the vastly experienced Peter Taylor, the prospect for the club and its supporters is a bright one. I would also like to take this opportunity to thank everyone who donated, time or money, to the club over the past months which was essential to put us in the position we are today. As the saying goes from adversity often comes strength, Come on You Daggers!!”
The deal reaffirms the Walker Morris sports law team’s national reputation as one of the leading national sports law teams. It is the latest in a run of successful football club acquisitions/sales for the Team over the last two years including advising on: the acquisition of Belgian football Club, Royale Union Saint-Gilloise; acquisition of Reading FC; the sale of Leeds United FC; acquisition of Nottingham Forest Football Club and advising Nigel Travis and his company Eagle Investments 2017 Limited on the acquisition of Leyton Orient FC.