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Lovells has advised ITV plc on the sale of its 50% share in Arsenal Broadband Limited to KSE UK, Inc, a vehicle controlled by Stan Kroenke, for a total consideration of £22.7 million.
The sale of this stake brings to a conclusion ITV plc’s football asset disposal programme and follows the recent sale of ITV's stake in Liverpoolfc.tv for £15.75 million on which Lovells also advised.
Neil Bailey, the ITV Controller of Commercial Affairs - Sport led the legal team on both transactions working closely with Tom Betts, Commercial and Acquisitions Director. The Lovells team on the latest deal was led by Peter Watts (partner) and Hannah Condon (associate).