Centrefield LLP, the fast growing, internationally renowned sports and media law firm, announces today a strategic investment partnership with Palatine, the leading private equity investor.
Completion of the investment is subject to regulatory approval.
Centrefield acts for leading sporting organisations around the world, with a client roster that includes most of the Premier League football clubs, EFL clubs, Major League Soccer in the US as well as many MLS clubs, sports businesses, agencies and high-profile player/athletes.
The firm is also active in other sports including rugby, cricket, boxing, swimming, golf, triathlon, basketball, cycling and eSports and has a growing media offering.
It advises on a range of practice areas, including player/athlete contracts and transfers, dispute resolution, corporate, commercial, regulatory and governance, disciplinary and integrity, employment, immigration and increasingly on sports investments.
It was founded in Manchester in 2015 by three former partners of the long-standing North West law firm, Brabners, Edward Canty, David Bentham and Matthew Bennett, with Stuart Baird being promoted to partner soon after.
Centrefield, which has tripled in size since launch, now has 33 staff, including seven partners and has grown fee income 20% year-on-year.
It is now focused on further domestic and international expansion in partnership with Palatine, which has invested from its £254 million Buyout Fund V.
As part of its strategic expansion plan Centrefield will look at international growth (organically and via M&A) with the US and key European locations being the focus.
Edward Canty, Co-Founding Partner at Centrefield said: “After a very successful 10 years in business, the partners decided that if we wanted to maximise Centrefield’s potential to be the leading global specialist sports law firm we would need an experienced and collaborative strategic investment partner to support us on the next stage of our journey.
“We are therefore incredibly excited to be working with Palatine. It was clear very early on in the discussions that there was a huge synergy in culture, ambition and outlook between us.
“We are all looking forward with confidence to the next chapter. Interest in football, and sport more generally, has never been higher from both an investment and regulatory perspective and we are perfectly placed to support our clients’ needs.
“This strategic investment will be transformative for Centrefield allowing us to further invest in technology and in our people, while continuing to broaden our sector specialisms, so that we can enhance the service and value we deliver to our clients.”
He added: “Following completion, Centrefield will continue to be led by its existing management team, operate under the Centrefield brand and provide clients with the same specialist, partner-led service.”
Tom Wildig, Buyout Fund Partner at Palatine said: “Centrefield is an outstanding law firm with a stellar reputation in its sector and amid ever-increasing global interest in sport and a complex and evolving regulatory climate, the potential for further growth is very strong.
“At Palatine we love to work with entrepreneurial and ambitious management teams committed to doing business the right way. Centrefield has all these attributes and we look forward to helping the team continue to provide best-in-class advice to more federations, clubs and players around the world.”
The deal was led for Palatine by Tom Wildig, Briony Fagan and Nauman Lodhi. Tom and managing partner Gary Tipper will be joining Centrefield’s board. A new chair will be appointed in the coming months.
Centrefield was advised by Convex (Sell side CF), Pannone Corporate (Legal), Alexander and Co (Tax).
Palatine was advised by BDO (Financial Due Diligence), Gateley (Legal), Deloitte Sports (Commercial Due Diligence), RSM (Tax Structuring), Fellwood (Debt Advisory)
HSBC was advised by Pinsent Mason.
