Linklaters advise MetLife Investment Management Ltd. on £117.5m English Football League financing
Linklaters has advised on the £117.5m funding package from MetLife Investment Management into the English Football League to support Championship Clubs in meeting PAYE liabilities.
This funding commitment from MetLife Investment Management will provide immediate additional funding to Championship Clubs, who have now played the equivalent of a full season without spectators in attendance and during which time have lost approximately £150m in gate receipts and missed out on other matchday revenue streams.
The Linklaters team was led by partner Julian Davies Co-Head of Linklaters sports law practice and included associates Adam Barr and Shamin Choudhury. Julian Davies commented:
“Linklaters are proud to have been part of the team that worked so hard on both sides of the transaction to structure and deliver this vital support financing for the EFL and the Championship Clubs. This transaction is further evidence of the financeability (even in these challenging times for the sport) of UK football and UK football clubs.”
The transaction has been completed by Linklaters dedicated sports law practice and will have a significant impact for the UK football industry by providing support for Championship Clubs in the wake of the pandemic.