Law Firm Assists in Premiership Deal
Leading regional law firm Peter Lynn and Partners have played a central role in a deal that sees Swansea City Football Club take full operational control of the Liberty Stadium.
Led by senior Partner and head of Commercial Services Peter Lynn with vital support from the head of Commercial Property Chris Tymanowski and head of Employment Law Stuart Atherton; the law-firm have been working closely with the club for over 18 months to get the deal over the line.
Peter Lynn commented, “We are extremely pleased with the outcome and are proud to have played such an integral part in this landmark deal which involved detailed and complex contractual and property law issues.”
The new long-term lease will see the Swans take sole control of the Stadium Management Company along with all stadium matters moving forward and is the culmination of talks with multiple parties including the authority and the Ospreys, who will remain at the stadium.
Chris Pearlman, Chief Operating Officer at the Swans, said, “I’d like to thank Peter Lynn and his team for their work in structuring and successfully concluding the deal which allows the football club to take control of its destiny.”
“It will allow us to be more active in exploring the likes of stadium expansion, naming rights, sponsorship, catering revenue and enhancing supporters’ matchday experiences.”
The negotiations involved several parties, each of whom had complex agreements in place that had been developed and amended over the last 12 years requiring expert attention to ensure the outcome was of benefit to all stakeholders.
“This was a win-win for all parties,” said Peter, “and thanks to the goodwill of all concerned and the excellent help received from all legal officers and advisors, we were able to get the deal finalised within strict timescales.”
A unique component of the new arrangement is a commitment by the football club to fund the construction of two new 3G pitches in Swansea every five years for community use. Now that the agreement is in place the club will begin to focus on moving this initiative forward.
Rob Stewart, Council Leader, said: “This is great news. For the first time, the council tax payers of Swansea will see a return on the investment they made in the Liberty Stadium.
“This is a deal that benefits the Swans, Ospreys and the Council. It provides the Swans with the freedom to commercialise the stadium, while the council tax payers who will not only receive an income, but also additional money from any stadium naming rights, plus the provision of new 3G pitches across the authority.”