Opus advises Wimbledon Park Golf Club on its sale to the All England Lawn Tennis Club
Category: Deal Announcement
Opus has advised the board of Wimbledon Park Golf Club in connection with the sale of the Club to the All England Lawn Tennis Club for total consideration of £65m equating to approximately £85,000 per member.
The transaction was motivated by the AELTC’s desire to gain certainty in their planning for an enhanced player, guest and community experience at The Championships including bringing on site the qualifying tournament. This was a complex, multiple stakeholder transaction in which Opus guided the Club through its obligations following the approach, consulted with the Club’s members on their preferences, and negotiated with the AELTC to enhance materially the initial proposal for members.
Members first approved a change to the Club’s constitution to permit all members to vote on the proposal and be treated equally, and subsequently voted to approve the AELTC’s offer in a court scheme meeting just prior to Christmas.
The transaction is an excellent example of Opus’s active private special situations franchise which has a broad range of current and historic experience, often working with multiple stakeholders to achieve value added resolution of complex situations. The Opus team was led by John McElroy and Nigel McNelly.