A great many people have been acknowledged on the success of the takeover of Sheffield Wednesday – including many operating from the background.
Sports lawyer Nick De Marco was one of many to have played an integral role in the takeover of Sheffield Wednesday by US consortium Arise Capital Partners.
The feted KC, who has become a name synonymous with EFL cases in recent years having represented a host of clubs and authorities on high-profile wrangles, was brought on board by David Storch and his partners to assist with their ‘complex’ takeover of the club out of administration – and advised on the handling of their sanctions heading into a vast rebuild this summer and next season.
The takeover took several twists and turns along the way, with De Marco operating from his Blackstone Chambers firm and has a previous relationship with Wednesday, who are one of over 50 clubs he has represented across England and abroad. De Marco was the lawyer who acted on the Owls’ 2020/21 points deduction being halved – and returned to huge impact this time around.
The Star is aware of difficult points in proceedings in which De Marco acted as a mediator between both the consortium and administrators at Begbies Traynor, as well as in the very many discussions involving the EFL. It was announced on Saturday in front of a sold-out Hillsborough that the EFL had enacted their power to impose no points deduction on the club heading into next season – despite their failure to meet the terms of the authority’s ‘minimum dividend’ rule.
The Star shares the widespread understanding that this was in no small part due to a refusal of any workable and timely engagement from ousted owner Dejphon Chansiri with regard to the lowering of his majority creditor claim. A deal is believed to have been thought-up collaboratively, with staff at Begbies Traynor having put together an offer that was seen as agreeable by all parties – Chansiri aside.
Posting on X, De Marco said: “Very pleased to have assisted David Storch and his consortium in the takeover of Sheffield Wednesday FC. Completing the transaction in time for the start of May, and enabling the Club to compete next season without a 15-point deduction, is an excellent outcome.
“A great deal of work went into this, and many people contributed. In particular: David and his investors; Asher (Simons) at CAA; Keir (Gordon) and his team at Charles Russell; the SWFC Supporters Trust; Clive Betts MP; John (Redgate) and the Club staff; Kris (Wigfield) and the team at Begbies; David (Hinchliffe) and his team at Wiggin; and the EFL Executive.
“Sheffield Wednesday is a historic club with a remarkable fan base. It has been a privilege to play a small part in what is, I hope, the start of its return. I look forward to getting to a match next season!”
Acknowledging their role in the case on their website, Blackstone Chambers said: “The takeover involved various complex legal, commercial and regulatory issues, ending with the EFL agreeing to exercise its discretion not to impose a 15-point deduction on the Club following its exit from Administration. It is one of a number of high profile football club takeovers across the leagues that Nick has been involved in during recent years.”
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