On any type of M&A (mergers & acquisition) transaction it is expected that a buyer will undertake due diligence on the target company which it intends to acquire or into which it intends to invest.  The due diligence exercise is usually a detailed investigation, often over a number of weeks, into the operational, financial, legal and possibly other elements of the target business.  It often involves engaging a number of external advisers and can have a high cost associated with it.

However, in the context of the sale of a football club, it is also not uncommon for the seller to undertake certain due diligence on the buyer. Everton Football Club’s proposed sale to 777 Partners, which collapsed once questions started to arise as to 777 Partners' funding and reputation[1], highlights the need for sellers to check a prospective buyer’s financial capability and credibility.

With more clubs now being owned (in whole or part) by sovereign wealth funds and private equity, there is likely to be even greater emphasis on the due diligence of any buyer on the future sale of such clubs. Future sales of these clubs will likely demand even closer examination of who is buying, why, and whether they have the means and credibility to follow through.

This article considers the due diligence that might be undertaken on a prospective buyer of a Premier League or Championship club. It focuses on five essential areas:

• Evidence of buyer funding
• League requirements
• Contractual consent & change of control
• Buyer motivations & future funding
• Purchase process

A recently published Arbitral Award by the Court of Arbitration for Sport confirmed a decision of the Disciplinary Committee of the Ice Hockey Federation of Ukraine against Hockey Club Kyiv Capitals (Kyiv Capitals). The appeal to the CAS had been brought by Kyiv Capitals in connection with a match during the 2023/2024 Ukrainian Men’s Ice Hockey Championship season.

This article examines the award which serves as a crucial reminder for clubs, athletes, and sports administrators about the consequences of abandoning matches in protest at refereeing decisions. The ruling has broader implications for all sports organizations in understanding when regulatory sanctions for match abandonment will be upheld by sports tribunals.

The full award is available here: CAS 2024/A/10449 Hockey Club Kyiv Capitals v. Ice Hockey Federation of Ukraine[1]

• Factual background
• Procedural background
• Arguments advanced before the CAS
  • Kyiv Capitals’ arguments
  • The Federation’s arguments
• What is the field of play doctrine?
• The decision
• Impact of the ruling

This article, drawing on the recent case of Rohilla v The Members of Royal Mid Surrey Golf Course[1], will be a helpful reference for anyone involved in running sports clubs, from committee members to club secretaries. It shows why following proper procedures matter when dealing with membership disciplinary matters, and what can go wrong when personal feelings influence decision-making.

The case highlights the need for principles of natural justice to be applied in disciplinary cases and illustrates the issues that can arrive when a club removes a member without following proper procedures, ultimately leading to costly legal consequences.

• Allegation of Cheating & Revoking Membership
• The Court Hearing Seeking Injunction to Reinstate Membership
  • Taking Decisions Free from Bias
  • Breaching Natural Justice & Acting in Bad Faith
  • Damages & Injunction
• Lessons Learnt
  • Principles of Natural Justice and Procedural Fairness
  • Exercising the Power to Terminate
  • Granting Executive Powers to Management or a Committee