Sale of Controlling Ownership Stake in United Soccer League Championship Club
Herrick represented D.C. United in its agreement with Attain Sports & Entertainment to sell a controlling ownership stake in United Soccer League (USL) Championship club Loudoun United FC (LUFC).
The founding of Loudoun United FC as the first professional soccer team in northern Virginia was one of several steps of investment into the sport and the local northern Virginia community taken by the D.C. United ownership group in recent years. Accompanying the establishment of the club was the development of a 5,000-seat stadium—Segra Field—in Leesburg, Virginia, which serves as the home for Loudoun United in addition to professional rugby, concerts, local sporting events, and more.
“Our decision to launch a team and build a stadium in the region showcases our commitment to the growth of the sport in the northern Virginia community and its ability to foster community, create economic growth, and provide entertainment for residents and visitors in the region,” said Jason Levien, CEO and Co-Chairman of D.C. United.
The investment in the USL Championship club by Attain Sports & Entertainment will add to the company’s growing portfolio of professional sports assets.