News
Northridge advises Mercury13 on investment in Bristol City Women
Northridge is delighted to have advised Mercury13 on its agreement to acquire a significant majority stake in Barclays Women’s Championship (WSL2) team Bristol City Women. The remaining stake will be retained by the Lansdown family. Completion is subject to league approval.
Mercury13, which already owns a controlling stake in F.C. Como Women (an independent women’s club competing in the first division of women’s football in Italy), is seeking to build one of the world’s most valuable ownership groups in women’s football by acquiring interests in women’s football franchises worldwide and optimising each franchise’s commercial trajectory.
The transaction is significant in seeing a financial investor acquire majority ownership of a women’s club that shares a common name and brand with the men’s club, with the deal establishing an ownership structure that provides commercial independence for the women’s club within an integrated club environment. Northridge was able to draw on considerable past experience in effecting a number of WSL club ownership restructurings.
It adds to Northridge’s role on transformational projects in women’s sport in recent years, having previously advised Michele Kang on the creation of the world’s first women’s football multi-club ownership structure, including her acquisition of London City Lionesses (recently promoted to WSL1), as well as advising The FA on transfer of its ownership and operation of WSL1 and WSL2 to a new independent company.
“We were delighted to support Mercury13 with this bellwether transaction for women’s football in this country. It was not without complexity in having to manage the establishment of a dedicated ownership and operating structure for the women’s club alongside the sale process. Under the stewardship of the impressive Mercury13 team, we will be excited to see the next chapter in Bristol City Women’s history unfold.”
Jon Walters
Partner, Northridge
