Slaughter and May advising Fulham owner Khan on £1bn Wembley bid

Slaughter and May is advising US businessman Shahid Khan on his offer, reportedly worth about £1bn, to buy Wembley Stadium from the Football Association (FA).

Khan, who owns Fulham Football Club and US National Football League franchise Jacksonville Jaguars, made the bid for the iconic venue in April.

The Slaughters team advising Khan includes M&A heavyweight Nigel Boardman and real estate partner Jane Edwarde.

Last month (28 April), Khan told Sky Sports that the deal is worth £1bn, when combining his £600m offer for the stadium with the estimated £400m value of the Club Wembley hospitality business and the rights to the games played there, which the FA is expected to retain.

In 2013, Khan turned to Squire Patton Boggs – then known as Squire Sanders – on his £200m takeover of Fulham FC. Corporate and sports law partner David Hull led the Squires team on that deal.

The FA’s legal function is led by legal and governance director Polly Handford, who joined in 2014 from sports boutique Couchmans. It is not yet clear whether the FA will instruct external counsel to advise on Khan’s offer.

Firms that have advised the FA in the past include Charles Russell Speechlys, Bird & Bird, Pinsent Masons, Mayer Brown and Allen & Overy, all of which were appointed to its corporate support panel in 2010, while Berwin Leighton Paisner – now Bryan Cave Leighton Paisner – advised the association on the development of its £105m St George’s Park national football centre, which opened in 2012.

Other major deals Slaughters is currently working on include the proposed merger of supermarket giants Asda and Sainsbury’s. Boardman and Edwarde are part of the firm’s team advising Asda’s owner, US retail giant Walmart.

Edwarde is also leading a Slaughters team advising Everton Football Club on its plans to build a new £300m stadium at Bramley Moore Dock on the River Mersey.

Photo: Jbmg40