Christian Purslow

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Christian Purslow
Born (1963-12-14) 14 December 1963 (age 50)
United Kingdom
Nationality British
Alma mater University of Cambridge
Harvard University
Occupation Businessman
Known for co-founder MidOcean Partners
Former Managing Director of Liverpool F.C.

Christian Mark Cecil Purslow is a British-born businessman, co-founder of private equity firm MidOcean Partners, and former managing director of Liverpool Football Club.

Early life[edit]

Attending Aylesbury Grammar School as a boy, he went on to graduate with a degree in modern and medieval languages at Fitzwilliam College, Cambridge,[1] he earned an MBA at Harvard Business School where he was a Baker Scholar.[2]

Career[edit]

Purslow trained as an analyst with LEK Consulting, before joining the Burton Group as executive assistant to the CEO. After becoming head of new business development for Reuters, he joined Credit Suisse First Boston as head of UK mergers and acquisitions. He then joined Schroders Salomon Smith Barney as head of cable, media and entertainment investment, before becoming managing director of DB Capital Partners. It was while in this position, that DB Capital Partners was spun-out, in which he became managing director of new private equity firm, MidOcean Partners.[2]

Liverpool F.C.[edit]

A season ticket holder of Liverpool, he was appointed managing director in June 2009, with a priority to renegotiate the £350m loan the club had outstanding with RBS and to assume overall management of the club until a new permanent CEO could be appointed.[3][4] Three months into his tenure, a team headed by Purslow negotiated an £80 million 4 year shirt sponsorship deal with Standard Chartered Bank.[5]

On 6 October 2010, Purslow voted in favour of the sale of the club from the unpopular then-owners Tom Hicks and George Gillett to the NESV group. In response to this, Hicks tried to block the sale by removing Purslow and Ian Ayre from the board and installing his son, Mack, and his business associate Lori McCutcheon to the board. On 13 October 2010, at a hearing in the High Court in London, Mr Justice Floyd held that Hicks’ actions were unlawful and in breach of the agreement he had signed with RBS.[6] Floyd’s judgment allowed the sale to proceed and, on 15 October 2010, NESV finally completed its £300m takeover of Liverpool in a deal which drastically reduced the club’s debt to RBS.[7]

Having completed his brief by finding a buyer, Purslow stepped down on 20 October 2010 after NESV assumed control of the club.[8] He remained as a non-executive director and special adviser until February 2011.[9][10]

Following the sale Hicks and Gillett pursued legal action, however, settlement was reached in January 2013 with Hicks and Gillett withdrawing all allegations made against Purslow and fellow directors Broughton and Ayre.[11]

References[edit]

  1. ^ Optima, Fitzwilliam College Newsletter Spring 2010 p.19
  2. ^ a b "Biography on MidOcean Partner Website". 
  3. ^ Kelso, Paul (22 June 2009). "Liverpool appoint Christian Purslow as their new managing director". Independent. Retrieved 2009-09-14. 
  4. ^ http://www.liverpoolfc.tv/news/latest-news/lfc-appoints-managing-director
  5. ^ Parsons, Russel (14 September 2009). "Liverpool looks to Standard Chartered to help global expansion". Marketing Week. Retrieved 2009-09-14. 
  6. ^ "Liverpool takeover: High Court rule in favour of RBS and against Tom Hicks". Telegraph. 8 October 2010. Retrieved 2010-10-08. 
  7. ^ "New owner John W Henry determined to revive Liverpool". BBC Sport. 16 October 2010. Retrieved 2010-10-20. 
  8. ^ "Liverpool managing director Christian Purslow quits job". BBC Sport. 20 October 2010. Retrieved 2010-10-20. 
  9. ^ "Christian Purslow stands down at Liverpool as John Henry starts rebuilding work". Daily Mail. 16 October 2010. Retrieved 2010-10-20. 
  10. ^ BBC Sport - Christian Purslow relinquishes Liverpool posts
  11. ^ "Statement from Liverpool FC". LiverpoolFC.com. 11 January 2013. Retrieved 2013-01-11.