North West law firm SAS Daniels LLP has advised Macclesfield Town Football Club on a deal which will see it saved from liquidation and become owned by its fans and members of the local community.
After plans were finalised at a meeting last week, the club will convert from a Limited Company to a Community Interest Company (CIC), which is an organisation run for community benefit whereby the public can buy shares. The deal will allow the club to continue with ongoing development plans and to expand the work it does in the local community.
Under the new structure, Macclesfield Town F.C. becomes the first senior community-owned football club in England without having first entered administration.The agreement also includes Cheshire East Council acquiring the freehold of the Moss Rose ground for £285,000.
Nigel Read, a partner at SAS Daniels, said: “The club is a vital part of the lives of many in Macclesfield, most notably that of its supporters and the local residents that it employs. It’s been an integral part of the town’s heritage for over a century and, by entering into this deal, is now in a better position to minimise future risk and continue to play an important part of the town’s future.
“We’re delighted to have been able to offer our support to Macclesfield Town Football Club during the course of its restructure and we all look forward to its future success.”
The law firm’s real estate team has seen an impressive past 12 months, with work including advising on office expansions for loan broker Moneio, brand management company Cirrus, and independent wealth management firm TWP Wealth Ltd.