Daniel A. Etna, Partner

Represented a well-known NFL club in issues related to league governance and employment matters.

Issued transfer and tax opinions in connection with the acquisition of an indirect equity interest in Yankee Holdings, L.P.

Represented major sports league in connection with all employment and personnel issues.

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

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.

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.

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 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.

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.

Represented Legends Hospitality in its partnership with Notre Dame and JMI Sports to oversee Notre Dame’s sales, marketing, hospitality, media rights and branding services nationally.

Represented a U.S. commercial bank, as a sole lender, in a $50 million senior secured revolving credit facility to owners of an MLB franchise. The proceeds are to be used for working capital purposes.

Represented Legends Hospitality in a joint venture with the Intrepid Air and Space Museum to provide concessions services for a new high-end food market located on the U.S.S. Intrepid.

Represented a prominent real estate firm, as lead counsel, in structuring and negotiating primary naming rights and secondary cornerstone sponsorship agreements for a proposed mixed-use real estate and stadium development project located on the west side of Manhattan.

Represented the New York Yankees in the issuance of $1.5 billion in municipal tax-free and taxable bonds by the New York City Industrial Development Agency, which financed the lease and construction of the new Yankee Stadium. We drafted and negotiated the lease agreement for the new stadium, as well as ancillary real estate agreements pertaining to parking lots and garages; construction, demolition and insurance, and public transportation. We were also integrally involved in navigating the Yankees through the lengthy federal, state and local governmental permit and approval process.

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 an affiliate of Legends Hospitality in the purchase of a mobile and Bluetooth-enabled point-of-sale (POS) system for use at stadiums and arenas. The POS system streamlines the purchase process for both the venue and the fans thereby effecting a more seamless experience at a game or concert. 

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 Sterling Equities in the purchase of the Syracuse Chiefs, a Triple-A baseball team in Syracuse, New York.

Represented Major League Soccer’s D.C. United in the construction financing and naming rights transactions for the club’s new state-of-the-art soccer-specific stadium in Southwest D.C., Audi Field.

Represent the EMMES Group of Companies, a privately owned real estate investment advisory firm in all corporate and employment matters.

Represented Yankee Global Enterprises, as lead counsel, in connection with various ownership transfers involving the New York Yankees.

Representing the University of Nevada, Las Vegas, in negotiating a joint-use agreement with the NFL’s Las Vegas Raiders related to the development of the $1.9 billion Las Vegas Stadium.

Represented Legends Hospitality in an investment in VenueNext, a technology company that provides smartphone-based software that gathers fan metrics and analytics at stadiums, arenas and other large scale entertainment venues.

Analysis of MLB league-wide proposal to provide the Office of the Commissioner of Baseball with greater oversight and involvement in MLB team bankruptcy and other insolvency proceedings.