Squire Patton Boggs has advised Cheltenham Town Football Club and its principal shareholders on the sale of a controlling interest in the Club, combined with a commitment for future investment in the Club, to Mike Garlick.
The sale is a significant milestone in the history of the Club, recognising its need to progress and compete in the challenging environment of professional football.
The Squire Patton Boggs team was led by Birmingham-based Corporate partner and football club M&A specialist David Hull and senior associate Matt Smith, assisted by Nadia Gulfraz.
Under the terms of the transaction, Mr. and Mrs. Garlick will immediately join the Board of the Club, whilst John Murphy retires from the Board but will take on the role of Honorary President for a five-year term. The rest of the Board remains unchanged with David Bloxham remaining as Chairman, Paul Godfrey as Company and Club Secretary, Clive Gowing as Financial Director and David Beesley as Robins Trust Appointed Director.
Chairman David Bloxham said “For some time the Club has operated within limited financial and practical restraints. Whilst the club is generally regarded to have outperformed its resources it has been a source of frustration that we have been unable to materially improve its facilities and infrastructure or retain its best staff. Mike Garlick brings with him a great deal of football knowledge and experience which I am confident will bring significant benefits and growth to our club.”
Mr. Bloxham added: “I would like to thank the team from Squire Patton Boggs for their expert guidance and for all of the work they have done and continue to do on our behalf. The Club would not have got to where it is now without their good counsel.”
Mr. Hull said: “We are delighted to have supported David and the Club in a deal that will bring fresh investment and renewed impetus to the Club and transform its future.”
Squire Patton Boggs has advised on around 30 football club deals in the last 20 years. These include both the sale and purchase of Manchester City, Leicester City and Sheffield Wednesday, the sales of Aston Villa, Wolverhampton Wanderers and Nottingham Forest and the purchases of Wigan Athletic, Fulham, Blackburn Rovers and West Bromwich Albion, as well as handling day-to-day instructions arising from football clubs and their owners.