Sport and Leisure
A proven track record is the best way to demonstrate our strength and depth of expertise. Below are examples of our team’s recent appointments.
Southampton Leisure Holdings plc
This case involved the successful rescue and sale of Southampton Football Club – Southampton FC had been in financial difficulty for some time due to its failure to regain top-flight status coupled with overheads too great for a Championship team. Under review of its bankers, the club desperately needed to reduce its costs and increase cash flow. The bank approached our team in London alliance member to advise the directors on a plan to save the club.
We implemented a radical restructuring plan leading to a successful sale of both the club and related assets. A hands-on, partner-led approach meant the Club survived, saving jobs and benefiting the community. Key elements of this success can be summarised as: focussed initiatives to raise cash; strong decision around removal of management; consensual restructuring around major creditors; winning creditor support; use of media to send required message; determination to achieve sale; and ultimately, creditor’s payment.