Matters

Hotel Operator – Government Relations

Represented a major hotel operator in resolving government relations issues.

Not-For-Profit Association – Cyber Securities

Represented a major sports franchise operator in connection with cyber securities initiatives.

Not-For-Profit Association – Compensation Plan

Represented a major sports franchise operator in connection with establishing a deferred compensation plan.

Not-For-Profit Association – Rate Review

Represented client, as its integrity counsel, in connection with a rate review.

Prominent Sports Memorabilia Auction House – Purchase of Collection of Memorabilia

Representing Lelands, the first sports auction house and premier appraisers and authenticators of sports collectibles, in the purchase of a prominent sports memorabilia collection that included collectibles that spanned several decades. 

Global Law Firm – Acquisition Matters

Represent client, a large global law firm, as outside special counsel in antitrust matters, including conducting a Hart-Scott-Rodino Act analysis with respect to the acquisition of a new business line.

Major Concessions Company – Product Offerings

Representation of major concessions company in connection with the offering of its client product offerings.

NHL Hockey Team – Naming Rights

Represented NHL hockey team as outside counsel in connection with its naming rights transaction.

NYRA – Multiyear Hospitality Contracts for Saratoga Race Course and Belmont Park

Represented the New York Racing Association in a multiyear contract with a leading concessionaire to provide food, beverage and high end catering services for Saratoga Race Course and Belmont Park.

Legends Hospitality – Creation of Omnichannel Retail Program

Herrick represented Legends Hospitality in the creation of an expansive omnichannel retail program with Spanish soccer powerhouse Real Madrid CF. The program encompasses an all-new official online store, the relaunch of three official stores in Madrid, and a new Flagship Megastore at the Estadio Santiago Bernabéu. The program will offer the latest assortment of fan gear, kits, headwear, customized products, authenticated memorabilia, and accessories at the stadium, online and at official stores.

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Creation of Fund to Invest in Mixed-Use Developments

Representing a family-run group of companies that is bringing together family offices to establish a fund to purchase interests in mixed use development projects in and around stadium projects throughout the United States.    

General Counsel to Telecommunications and Cloud Communications Company

Acting as General Counsel on a full spectrum of corporate matters to a provider of on-demand voice and data communications systems that include telecommunications and cloud communications.   

Sports Ventures – Sale of Ownership Interest

Represented client in sale of minority interest in professional basketball team.  
 

Represented Major Hospitality Organization in Certification of COVID Compliance

Represented and advised major food, beverage and stadium operations corporation serving entertainment venues in certifying all venues were compliant with mandated COVID safety regulations. 

Transfer of Minority Interests in Major League Baseball Team

Representation of sellers and purchasers of minority indirect equity interests in the Major League Baseball Team including delivery of tax and transfer opinion letters required under governing documents. 

Represented High Net Worth Investment Vehicle in Securing Assets to Operate CBD Business

Represented a high net worth investment vehicle in a new venture seeking to take control of an ecommerce CBD business by joining with secured creditors and exercising the rights and remedies of the creditors to secure the assets to continue to operate business.

Represented Investment Vehicle in Acquiring Exclusive Manufacturing and Distribution Rights

Represented a high net worth investment vehicle in securing a control position of an entity purchasing world-wide Intellectual Property rights of a an iconic soda company.  The acquisition includes the exclusive rights to a newly launched spiked seltzer division, exclusive license rights to manufacture and distribute an international hard seltzer line and rights to an after alcohol revival beverage. 

Represented Investment Company in Structuring and Development of CBD Business

Represented investment vehicle in its structuring and developing of a CBD line of products to be marketed at big box stores and kiosks and counseled on accompanying intellectual property issues.  

Concession Service Provider – UK Acquisition

Represented international concession service provider in its acquisition of UK hospitality provider specializing in providing premium customer event experiences.  

Professional Sports Association – Database of Medical Providers

Representing professional sports association as integrity counsel in establishing a database to maintain the purity of medical providers.

Legends Hospitality – Concessions Services

Represented Legends Hospitality Management LLC in connection with a concessions services arrangement for a rugby franchise.

Private Investor – Establishment of Baseball Clinic

Represented a private client in connection with establishing a new baseball development clinic in southern Florida.

General Corporate Matters – Bespoke Travel Agency

Represented leading luxury travel company as acting General Counsel to provide a spectrum of corporate advice.  

Counseled Professional Sports Team in Ticketing Issues

Counseled professional sports team in ticket credit analysis issues in light of COVID 19.

Wilkinson Global Capital Partners – Purchase Agreement

Represented Wilkinson Global Capital Partners LLC, a leading asset management and investment advisory firm, in its purchase of Wilkinson Global Asset Management, a New York-based private wealth investment manager, pursuant to a call option. The sale was made in accordance with a multi-year financing agreement with the seller, Fiera Capital.  

Resources

Legends Hospitality – Control Interest Transfer

Represented long-standing client Legends Hospitality in its entry into a share purchase agreement with the private equity firm Sixth Street. Under the share purchase agreement, Sixth Street acquired a controlling interest in Legends Hospitality. This investment will support Legends continued growth as a premium experiences company that specializes in delivering holistic solutions for sports, entertainment and attractions clients. 

In connection with the acquisition, Legends Hospitality (i) issued senior secured long-term notes and (ii) entered into a revolving credit facility and PIK facility. The net proceeds were used to redeem certain outstanding equity securities of Legends Hospitality and for working capital and general corporate purposes.

In order to preserve Legends Hospitality’s liquidity and support its continued investment in accretive, long-term capital projects, affiliates of Sixth Street and other third parties will provide Legends Hospitality with access to funding provided by an investment vehicle. The funding will be used for capital expenditures, pre-opening costs and other disbursements contemplated by contracts entered into by Legends Hospitality.

Legends – Majority Investment Transaction

Represented Legends Hospitality Holding Company, LLC (“Legends Hospitality”) in majority investment by private equity firm Sixth Street in the global premium experiences company, co-founded by the New York Yankees and the Dallas Cowboys. As reported by Legends, “[t]he new investment from Sixth Street will support the long-term growth of the Company’s global client relationships and further enhancements to its innovative 360-degree platform of premium experience offerings for the most iconic global brands in sports, entertainment, and attractions.”

Herrick has represented Legends since its inception in 2008, when our Sports Law Group worked with the Cowboys and the Yankees, along with two private equity firms, to form this ground-breaking joint venture. Initially, Legends focused on delivering enhanced concessions and premium experiences. Since its formation, Legends’ range of services has grown to include six worldwide divisions and it has partnered with many iconic international sports, entertainment and attractions brands. 

Resources

Concession Agreement – University

Represent global advisory, development and investment company for the sports and live entertainment industries in concession agreement with major university. 

Fox Sports/NYRA – Landmark Wagering and Media Rights Agreements

Represented New York Racing Association, Inc. (NYRA) in an expanded partnership agreement establishing Fox Sports as NYRA Bets' official wagering partner and the leading media provider for elite thoroughbred racing through the next decade. The prior FOX Sports/NYRA media rights agreement provided a FOX Sports subsidiary with an option to acquire a 25% stake in NYRA Bets, LLC, a leading Advance Deposit Wagering (ADW) platform available to customers in 30 states across the country. The FOX Sports subsidiary will exercise this option by the summer of 2021, pending final regulatory approval. 

The agreement provides a FOX Sports subsidiary with a future opportunity to increase its equity interest in NYRA Bets.

Resources

Global Sports and Entertainment Company – Negotiation of Concession Services Agreement with Major University

Represent global advisory, development and investment company for the sports and live entertainment industries in negotiation of a concession services agreement with a major American university.

Lido Advisors – Key Strategic Partnership

Represented Lido Advisors ("Lido"), a nationally recognized wealth advisory firm, in its entrance into a key strategic partnership with Charlesbank Capital Partners ("Charlesbank"), a middle market private investment firm.  Through the partnership, Charlesbank will become a significant investor in Lido alongside the founders and management team.   

“We couldn’t be more excited to partner with Charlesbank at this pivotal time for Lido and, more importantly, for our clients,” said Jason Ozur, Lido’s Chief Executive Officer. “With Charlesbank at our side, our unparalleled investment and wealth planning solutions will continue to expand, both in breadth and scope, all to the benefit of our clients.”

Founded in 1999 and headquartered in Los Angeles, Lido is a full-service, independent Registered Investment Advisor (“RIA”) that brings an innovative family office investment approach to grow and safeguard its clients’ wealth and legacies. Lido’s clients include high-net-worth and ultra-high-net-worth individuals, family offices, corporate executives, non-profit organizations and foundations.  

Resources

Concession Services Agreement – UBS Arena

Represented partnership in agreement with a global food service and hospitality company in a concession services agreement for the Islanders' venue, UBS Arena, including food, beverage and premium hospitality services.  

Sale of Minority Stake in NBA Team

Represented minority limited liability limited partnership owners of NBA team in sale of stake of NBA team to private equity firm.  

Concession Services Agreement – National University

Representing a full-service global venue management and event programming company in its concession services agreement at a new 15,000-seat basketball and entertainment venue set to open in 2022.  

Acquisition of Global Data and Analytics, Innovation and Digital Media Agency

Represented Legends in its acquisition of 4Front, a global data and analytics, innovation and digital media agency.  4FRONT will retain its company name and operate as part of Legends Global Technology Solutions division, building on Legends’ expertise in data consulting and digital activation.  Legends Global Technology Solutions is an industry leading sports and entertainment digital, technology and experiential advisory with the deepest experience in some of the largest, most complex projects in the world of sports and entertainment.

Resources

Represented Leading Producer of Golf Equipment and Apparel in Sale of Business Transaction

Represented Sun Mountain Sports, Inc. ("Sun Mountain"),  a leading producer of golf equipment and apparel, in a sale of business transaction to a private investment firm, Solace Capital Partners.  

Founded in 1981, Sun Mountain is a pioneer in the golf industry known for its best-in-class brand and many innovations in golf bags, push carts, and outerwear. Sun Mountain’s products are sold in national retail stores, specialty golf stores, and pro shops, as well as online and internationally. The sale did not include Sun Mountain Motor Sports, which produces motorized golf cars under the Finn Scooters brand.  

Three Ocean Partners served as financial advisor to Sun Mountain. 

Resources

Equity Investment in Golf Equipment and Apparel Company

Represented longtime client in its equity investment in a golf equipment and apparel company, and in its related fundraising arrangements and co-investments from several high-profile investors. 

Negotiated separation agreement for senior executive of professional sports team

Represented senior executive in the negotiation of a separation agreement from a professional sports team. 

Represented Apparel Manufacturing Platform in Equity Purchase Agreement

Represented automated, vertically integrated, and on-demand apparel manufacturing and customization platform in its acquisition of the outstanding equity of a subsidiary of a provider of digital commerce solutions. In connection with the equity purchase, the Herrick team also negotiated several commercial agreements, including a client services agreement and a transition support agreement between the buyer and the seller.  

Represented Legends in Minority Investment and Strategic Partnership with TeamTrak Cycling

Represented Legends in its strategic partnership and minority investment in TeamTrak Cycling League, an entity of World Cycling Limited, to support the launch and growth of the startup indoor cycling league. TeamTrak is an innovative, proprietary format of indoor velodrome racing. The partnership spans revenue-generating sponsorship sales and omnichannel merchandise services as well as a minority investment in TeamTrak.

Legends will manage a data-driven approach for TeamTrak, leveraging data and analytics to provide fan insights and asset valuation to drive sponsorship sales and overall revenue-generating opportunities for the league.  Legends will also provide broadcast and media rights partnership support for TeamTrak. With the growth of TeamTrak, the league will have access to Legends’ intelligence-fueled 360-degree service solutions. 

Resources

Professional Golf Tour – Advised on Spectrum of Matters

Counseled LIV Golf, a professional golf tour whose mission is to modernize the game of professional golf through expanded opportunities for players and fans, on a spectrum of issues including general employment matters, ticketing issues, broadcast and media rights, liability issues and facial recognition technology issues.

Represented Formula 1’s Las Vegas Grand Prix in Sponsorship and Partnership Agreements

Represented Las Vegas Grand Prix, Inc., a subsidiary of Formula 1 owner Liberty Media Corporation and the promotor of the Formula 1 Las Vegas Grand Prix, in its sponsorship agreement and partnership with Aristocrat Technologies, Inc., a leading slot machine and casino game manufacturer.

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CreateMe – Acquisition of the Outstanding Equity of Product Personlization Platform

Represented CreateMe in connection with its acquisition of the outstanding equity of a premium product personalization platform. 

Legends Hospitality – Master Management Services Agreement with 3ICE

Represented Legends in connection with a Master Management Services Agreement with 3ICE, an organizer and operator of a three-on-three professional hockey league. This strategic partnership will support and accelerate the growth of the new independent North American hockey. In addition to managing several lines of revenue generating operations for 3ICE, Legends will make a minority investment in the league.

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Represented Legends in connection with a Master Management Service Agreement

Represented Legends in connection with a Master Management Services Agreement with Glytch, Inc., a provider of professional esports stadiums with location-based entertainment and live broadcasting.

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