Devinder Singh from the Birmingham Restructuring and Insolvency team worked day and night on a four-day deal which helped secure the future of Birmingham’s Aston Villa football club and saw it avoid possible administration.

In the face of increasing pressures on cash flow, primarily as a result of monies due to HMRC, Devinder was initially approached by the club’s owner, Dr Xia, in May 2018, to advise the club on its available options.  The cash flow difficulties were compounded following the club’s unsuccessful attempt to win promotion and in view of the rules about financial fair play led to AVFC entering into a time to pay agreement with HMRC and it exploring possible restructuring, funding and investment opportunities to tackle the increasing financial pressures.

Ultimately, new investors were found and Devinder working alongside David Hull (corporate partner and football M&A expert) and Mark Yeo (corporate partner) finalised the deal which, following approval from the English Football league, will hopefully see the fortunes of the club turnaround.

For further comment see: https://www.greaterbirminghamchambers.com/latest-news/news/2018/7/23/chamber-patron-advises-on-villa-investment/