Yankee Global Enterprises – Ownership Transfers
Represented Yankee Global Enterprises, as lead counsel, in connection with various ownership transfers involving the New York Yankees.
Represented Yankee Global Enterprises, as lead counsel, in connection with various ownership transfers involving the New York Yankees.
Represented a professional baseball team affiliate in a proposed joint venture with a leading European craft beer manufacturer for the operation of a brew pub at a major league baseball stadium.
Represented a special purpose entity affiliate of the National Football League's New York Jets and the New York Giants, in a complex public financing for MetLife Stadium that involved the New Jersey Economic Development Authority and local government.
Represented the World Surf League in establishing the league’s ownership, operations and core investment structures to maximize league value. We also advised the league in the negotiation and development of a form agreement for surfers competing in the WSL Championship Tour, which covered merchandise licensing and media and promotional matters.
Represented Lelands in pursuing monetary damages in a breach of contract action concerning a collector's sale of a $500,000 Roberto Clemente baseball card collection.
Represented Legends Hospitality in a joint venture with Major League Soccer’s Los Angeles FC to provide concessions services at the team’s new 22,000-seat soccer stadium.
Represented Sterling Equities in the purchase of the Syracuse Chiefs, a Triple-A baseball team in Syracuse, New York.
Represented sports investor Joe Tacopina in franchise acquisition and ownership matters, including negotiating and structuring his exit as president and co-owner of the Italian soccer club Bologna F.C. 1909, and his ensuing acquisition of Venezia F.C.
Represented a regional sports network in an amendment to an indenture with a U.S. bank concerning the issuance of $250 million in senior subordinated notes.
Representing Q4 America, a Los Angeles-based start-up performance basketball brand, in intellectual property matters related to the development of a new brand of sneakers, sponsorships, athlete endorsements and capital raises.
Represented the New York Yankees and Yankee Global Enterprises in 21st Century Fox's multi-billion dollar acquisition of a majority stake in the Yankees Entertainment and Sports Network (YES Network). The two-step acquisition raised 21st Century Fox's ownership position in the regional sports network to 80 per cent. The remaining 20 per cent stake continues to be held by Yankee Global Enterprises.
Represented Blue Star Operations Services, an affiliate of the Dallas Cowboys, in building out their new media platform.
Represented a leading regional sports network, as borrower, in amending and restating its senior secured term loan facility into a $625 million term loan facility. The proceeds were used for working capital purposes
Represented a leading regional sports network in a $24 million equipment lease financing facility provided by Banc of America Leasing & Capital and in a subsequent amendment to the facility.
Successful defense of a major league professional sports team, obtaining pre-motion dismissal of all claims in a high-profile putative class action alleging deceptive trade practices and false advertising in connection with a very large sale of memorabilia.
Representing New York Racing Association (NYRA), in assisting NYRA’s Board of Directors and management in ensuring that NYRA, its officers, employees and operations comply with New York’s Racing, Pari-Mutuel Wagering and Breeding Law §206(5), and AML and Patriot Act concerns. We also assist NYRA on corporate and tax-related matters.
Represented Legends Hospitality in the review, assessment and protection of intellectual property rights in various unique One World Observatory visitor installations, including the Sky Pod elevators, the See Forever Theater and the City Pulse interactive display.
Represented Legends Hospitality in its equity investment in DraftKings, a leading provider of daily fantasy sports contest services.
Represented Legends Hospitality in a major strategic partnership with Live Nation to provide concession services at 34 of Live Nation's music venues in North America. The partnership represents one of the largest venue food and beverage contracts in history.
Represented a sports investor in the acquisition of the Kansas City Royals' Class A affiliate Lexington Legends, and the team's home stadium, Whitaker Bank Ballpark.
Represented a major league baseball franchise in a $4 million unsecured term loan facility provided by a national bank. The proceeds will be used to pay various fees and expenses related to the facility and to finance certain projects.
Represented Yankee Global Enterprises in the establishment of executive compensation plans.
Represented a final round bidder, a consortium of high-net-worth individuals and institutional investors, in the proposed acquisition of the National Football League's Buffalo Bills, and in related stadium issues and compliance matters with the NFL constitution.
Represented an affiliate of New York City Football Club in a memorandum of understanding with the City of New York for the financing, development and construction of a new soccer stadium.
Represented Legends Hospitality in a proposed investment in software that consolidates sports franchise data.
Represented World Freerunning & Parkour Federation in internal restructuring and in providing general corporate advice.
Represented a national bank, as syndicate lender, in the NHL league-wide credit facilities consisting of a $990 million senior secured revolving credit facility and a $410 million delayed draw secured term loan facility.
Represented Sterling Equities in the joint venture formation of the Brooklyn Bolts, one of four teams in the new Fall Experimental Football League ("FXFL"). The FXFL is a professional football league which serves as a developmental platform for players, coaches and referees.
Represented a major league baseball franchise in a $250 million senior secured credit facility consisting of a $200 million league term loan facility and a $50 million revolving credit facility. The proceeds were used to make a dividend payment to parent to repay existing facility and to pay fees and expenses.
Represented an investment group led by a prominent foreign investor and nationally-recognized sports industry advisor in connection with a potential bid for an English Premier League football club.
Represented Champions League, Inc., in the formation and organization of a new basketball league featuring former NBA players, including league structuring, antitrust, ownership, securities law and franchise law issues, and the sale of the initial franchises.
Represented New York City Football Club in a multi-year radio license with CBS Radio to broadcast the team's matches on WFAN 660 AM / 101.9 FM.
Represented a major league baseball franchise as counterparty to an advertising agreement and suite license agreement with debtor in connection with the chapter 11 bankruptcy cases of Caesars Entertainment Operating Company, Inc. and its affiliated debtors.
Represented an affiliate of Yankee Global Enterprises, LLC and the New York Yankees in their joint venture with Manchester City to create New York City FC, Major League Soccer's 20th franchise.
Represented a sports investor group, which included a former Major League Baseball All-Star, in a bid to acquire the San Diego Padres.
Represented a major sports franchise in obtaining a judgment confirming an arbitration award for breach of contract against a season ticket holder.
Obtained summary judgment, including dismissal of all claims and recovery on counterclaim for breach of contract, on the district court level on behalf a Major League Baseball franchise in a contract dispute involving advertising and sponsorship rights, and protected judgment on appeal to the Second Circuit.
Represented Yankee Global Enterprises in connection with the opening of a NYY Steakhouse in Times Square. The NYY Steakhouse brand is a joint venture partnership between the New York Yankees and Hard Rock International.
Represented Yankee Global Enterprises and affiliates in the acquisition of franchise rights for the New York Yankees minor league Triple A affiliate based in Scranton/Wilkes-Barre.
Represented a leading regional sports network and franchise in the issuance of $250 million high-yield note offering.
Represented a leading regional sports network and franchise in the negotiation and closing of $630 million senior secured credit facility.
Advised Highbridge Capital Management regarding the rules and regulations applicable to Highbridge's $60 million interim bankruptcy financing to the Los Angeles Dodgers. We also advised Highbridge on its proposed long-term $150 million credit facility to the Los Angeles Dodgers.
Represented a U.S. commercial bank in a $400 million syndicated revolving loan facility to a trust established by a major sports league to make further loans to participating clubs. The loan is secured by team revenues from league sponsored TV rights and other revenue sources on a non-cross collateralized team basis.
Represented a professional sports franchise in reallocation of corporate responsibilities following the formation of new subsidiaries created to achieve certain payroll, insurance and other administrative efficiencies.
Representation of the New York Yankees in connection with a video distribution agreement between Major League Baseball Advanced Media and the YES Network, the primary broadcaster of New York Yankees games.
Representation of Israel Discount Bank of New York as administrative agent and lender, in connection with a senior secured syndicated credit facility to a triple A minor league baseball team.
Represented the New York Yankees in negotiating an agreement with the Daily News to license the Daily News' historic photo archive of Yankees players and stadium imagery and for the Daily News to be the exclusive provider of historical photos for prominent display in the new stadium.
Represented a professional sports team in the refinancing of a senior secured credit facility. The refinanced credit facility consists of a several million dollar term loan and a revolving line of credit component. The refinancing is secured by many different assets owned by the team and required other third party approvals.
Represented Yankee Global Enterprises LLC in refinancing its senior credit facility consisting of a term loan and a revolving line of credit. Yankee Global Enterprises LLC is a holding company that invests in media and sports related businesses, including the New York Yankees.