Member Article

Evolution pushes sports deal over the line

A major transaction that will result in the rapid expansion of sports facilities in Darlington has been completed with the help of a North East accountancy practice.

Evolution LLP, which has Hartlepool and Wynyard offices, played a key role in the acquisition of Darlington Football Club’s former stadium by Darlington Mowden Park RFC.

The deal, for an undisclosed sum, also includes the purchase of 24 acres around the stadium to be used for new rugby pitches.

Evolution advised Mowden Park on the structure of the deal, the taxation implications involved and the sale and purchase agreement.

The rugby club will use the stadium for a range of sports, including ladies’ football and rugby, and it will now be open to teams from other towns to utilise facilities.

Martin Barber, managing partner at Evolution LLP, said: “It’s great to have been working with Mowden Park RFC in such a high-profile acquisition as this, knowing that we’re helping Darlington Stadium to be put back into use.

“This acquisition will be a tremendous opportunity for Darlington and its provision of sporting facilities for the public, and it will also strengthen the roots that Evolution already has in the town.”

David Liddle, Mowden Park RFC committee member, said:

“We are delighted to have been able to acquire Darlington Football Stadium and take on the task of expanding and improving on the town’s provision of public sporting facilities.

“Evolution’s efforts in advising us on the deal have been brilliant, and it’s great to know that we’ll have the firm’s on-going support as we embark upon turning the stadium into a real community club.”

While Evolution assisted in the financial aspects of the acquisition, Stockton-based law firm Jacksons worked on the legalities of the deal.

Evolution provides a broad spectrum of services including personal tax returns and tax planning for a wide range of clients, from sole traders to multinationals.

For more information on the firm, please visit: www.evolutionllp.com

This was posted in Bdaily's Members' News section by Harvey and Hugo .