FFW advises on acquisition of UK’s busiest motor racing circuit
06 February 2007
Field Fisher Waterhouse LLP (FFW) has advised newly created
company, Donington Ventures Leisure Limited on the acquisition of
Donington Park Leisure Limited, the company that owns and manages
Donington Park, home of the British Motorcycle Grand Prix
(MotoGP).
FFW also advised Donington Ventures Leisure Limited on obtaining
a new 150-year lease for the 600 acres of land surrounding and
including Donington Park.
Patrick
Cannon, Head of FFW’s Sport Business Group, led on the deal
with real estate
partner, Edward
Bannister leading on the development and property aspects,
assisted by a large team from across the firm including real estate
solicitor Jonathan Kalman, banking solicitor Clare Farnell and
corporate solicitor Tim Davison. Partners Nick Beecham (tax),
Greg Cain
(employment) and Darren Olivier (trade marks) also worked on the
deal.
This deal once again demonstrates FFW’s expertise in the sporting
sector, as well as their expertise in leisure development. It
follows a number of recent deals for the sports industry, including
advising on the board takeover of Southampton Leisure Holdings PLC,
the owners of Southampton FC and advising on the AIM flotation of
Essentially Group, following its acquisition of Global Sports
Management Group, the international sports marketing and management
business with a strong focus on rugby union.
On the Real
Estate side, this follows hot on the heels of FFW advising the
UK’s largest operator of licensed late-night venues, Luminar
Leisure on the sale and leaseback of 20 properties, worth £76.8
million.
Patrick
Cannon said: “We are delighted to have advised Donington
Ventures Leisure Limited on this deal. Donington Park Leisure
Limited already possessed a strong core business but the new owners
have some exciting development plans.”
Hammonds advised Live Nation on the disposal of Donington Park
Leisure Limited. Browne Jacobson advised Wheatcroft & Son
Limited on the grant of the new 150-year lease.
For further press information please contact:
Louise Eckersley, PR Executive on +44 (0)20 7861 4120
Scarlett Yianni, PR Assistant on +44 (0)20 7861 4795