Gilson Gray plays role in football club takeover

A Scottish law firm has played a crucial role in facilitating the latest fan-led takeover at one of the country’s most historic football clubs.

The deal, which will ultimately see the sale of St Mirren Football Club to a majority fan-based ownership, was facilitated by Gilson Gray, the full service legal firm based in Glasgow and Edinburgh.

The firm has developed a proven track record in representing emerging trend of fan ‘owners’, with a member of its growing team of legal experts helping facilitate a similar successful takeover bid at Hearts of Midlothian, while in a previous role.

Derek Hamill, Partner and Head of Corporate at Gilson Gray, led the legal representation, which included carrying out due diligence and brokering the final agreement.

Derek said: “It is so important for the prosperity of the sport that Scottish football clubs are able to secure their long-term future. We are delighted to have played a part in this takeover deal, putting passionate fans at the very heart of this proud club.

“Unlike the top clubs south of the border, billionaire owners and multi-million pound broadcast deals have less influence in Scotland. Fan takeovers such as this follow an increasingly popular continental trend - as a means to ensure a club can operate responsibly and in the best interests of its supporter base.”

The initial deal sees local property developer Gordon Scott securing a 50.1 per cent stake in St Mirren, with the St Mirren Independent Supporters Association (SMISA) owning 28 per cent. The SMISA, which is comprised of more than 1,300 Saints supporters, is backing the scheme and their monthly subscriptions will be used to buy out Scott over the next 10 years.