Thursfields Corporate Team assists with Simon Lancaster’s Acquisition of Worcester City Football Club

Thursfields Solicitors corporate and commercial team, led by Philip Chapman, Corporate Director, and supported by Hannah Clark, Commercial Associate Director, advised Simon Lancaster, CEO of SJL Insurance, on his purchase of a 51% majority stake in Worcester City Football Club’s issued share capital. The acquisition saw Mr Lancaster invest significantly in the club, granting him the authority to make key decisions. The shares were acquired from a supporter’s trust, who were represented separately by both the club and Mr Lancaster.

Mr Lancaster, a devoted follower of Worcester City Football Club since childhood, manages one of his son’s football teams within the club’s youth section.  After joining the club’s board and recognising the financial challenges it faced, Lancaster showed commitment by making substantial investments to ensure the club’s future sustainability. Notably, the supporter’s trust retained a veto on any potential change in ownership outside the Lancaster family and secured a seat on the board.

Philip Chapman stated, “Thursfields’ legal tasks encompassed negotiating a comprehensive share transfer agreement between Mr. Lancaster and Worcester City Football Club Supporters Limited, outlining the terms of the share acquisition. Additionally, the team drafted an oversight agreement aimed at governing the exercise of rights concerning the club. This involved collaborating with the Trust’s solicitors and accountants to reach a consensus on the final deal structure among all involved parties. We are delighted to have assisted Mr. Lancaster with this transaction and extend our best wishes to the club in their future pursuits.”

Mr Lancaster said “I am extremely grateful to Thursfields for their legal support throughout the recent acquisition process involving Worcester City Football Club. I also appreciate Steve and my colleagues on the main board for their hard work and support during challenging times. The supporters trust played a crucial role in saving the club and attracting the right investor, and their continued involvement is essential for the club’s future.”