De Gea Transfer Drops The Ball

The proposed transfer of Manchester United goalkeeper David De Gea to Real Madrid fell through at the eleventh hour after the relevant paperwork was not filed with the Spanish Football Authorities by the deadline of 12:00 AM, therefore the whole transfer collapsed leaving an unhappy De Gea in Manchester and giving rise to allegations of ineptitude by both parties.

The main criticism of the botched deal is that the clubs had 62 days from the opening of the transfer window in which to complete the transfer, yet left it until 28 minutes after the window shut to file the necessary registration documents. In transactions big and small the need to view time as being of the essence is very important. As can be seen from this situation the fallout from a collapsed deal can be both unsavoury and messy; the reputations of both clubs have taken a hit as a result of this failed transfer.

It is evident from this failed transfer that even the biggest and best can get it wrong; your business may not be conducting a £29 million deal, but the failure of a transaction to go through can leave you open to litigation if it can be proved that it was your error that caused the failure. The best advice is to ensure that you agree realistic deadlines and ensure that you leave enough time to be able to fulfil your obligations, preferably with time to spare. The need to allow enough time for last minute hitches is prudent and could save you a substantial amount of litigation costs.

If the worst should happen and you fail to meet a deadline, it is essential that you obtain legal advice immediately as taking appropriate action can potentially avert litigation or at least mitigate the extent of your potential liability.

At Forbes Solicitors our Dispute Resolution team specialises in advising and assisting businesses in commercial disputes. For further information please call 0800 689 0831 or send an enquiry.

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