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Macdonald Henderson act in the sale of St Mirren FC - 25th July 2016 - Click for larger version Macdonald Henderson act in the sale of St Mirren FC - 25th July 2016

Macdonald Henderson is delighted to have acted for a shareholder consortium of St Mirren Football Club in the sale of a controlling interest in the club to property developer Gordon Scott and the St Mirren fans.

Mr Scott has joined forces with the St Mirren Independent Supporters Association to buy out the consortium in a deal worth approximately £1m. The aim is for fans to eventually buy out Mr Scott (who becomes chairman of the club over a period of time).

Macdonald Henderson have acted for the consortium since the club was effectively put up for sale in 2009, and the sale represents the culmination of 20 years of careful stewardship by the current directors and shareholders.

Inheriting a debt-ridden and struggling club, the consortium now bequeath to the fans a club with a modern stadium (having overseen the move from the club's former St Mirren Park home in Love Street to the new Paisley 2021 Stadium) a purpose-built training ground and cash in the bank.

Of Macdonald Henderson, Mr Allan Marshall, member and advisor to the consortium commented:

“Throughout the last few years, Macdonald Henderson have provided steady, commercial advice to the consortium in what has been a long process of identifying and concluding a transaction which best protects the club’s legacy and future for its fans and local community. The transaction was completed in a challenging timescale, whilst dealing with a number of novel aspects, all completed with the high level of professionalism and support which we’ve come to expect from Macdonald Henderson”.

We wish the consortium members well as they pursue their various interests following the deal, and of course wish St Mirren and its new owners the very best for this season and the future.

Last updated: 1.33pm, Monday 25th July 2016

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