Irwin A. Kishner, Partner

Assisted Legends with respect to a 10-year multimedia rights partnership with Florida State University Athletics that expands the relationship between FSU Athletics and Legends. In addition, "[a]s part of the partnership, Legends will collaborate closely with Florida State Athletics to enhance multimedia rights, including broadcasting, licensing, and sponsorship opportunities." 

Represented Avenue Sports Fund in its partnership with Bright Path Sports Partners in connection with their investment in Gamechanger 20 Ltd, the owner of Ipswich Town Football Club. Ipswich Town competes in the Premier League, the top tier of the English football league system. Avenue Capital will have representation on the Ipswich Town Board of Directors and will provide strategic input in addition to the equity capital and lending facility.

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.

Represented Milwaukee Bucks co-owner, Marc Lasry, in the sale of his 25 percent stake in the team to Cleveland Brown owners Jimmy and Dee Haslam. According to ESPN, the transaction struck at a $3.5 billion valuation was the second highest valuation ever paid for an NBA team and the third highest valuation for any American professional sports team. It was a tremendously successful conclusion to Mr. Lasry’s tenure as an owner and steward of the championship Bucks.

Represented Legends Hospitality Management, LLC in its equity interest acquisition in MainGate, Inc., a leading event retail and merchandise company. The acquisition will create a robust multi-channel retail and e-commerce platform to facilitate the connection between brands and fans.

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 Major League Baseball franchise, as borrower, in connection with an amended $425 million senior secured revolving credit facility led by a major commercial bank.

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.

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. 

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.

Represented the EMMES Group of Companies in the preparation of a convertible note purchase agreement, offering documents and an amended and restated operating agreement in connection with a capital raise.

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. 

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. 

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 Legends in connection with potential joint venture with a provider of a no-code platform that provides a non-fungible token (aka NFT) wallet, access to multiple blockchains, tokenization and utility-driven smart contracts to empower marketers and brands to build web3 customer loyalty communities.

Represented a prominent thoroughbred racing association in the acquisition of a minority interest in Elite Turf Club, a provider of natural turf installation services.

Representing an iconic children’s apparel retailer in a sale disposition transaction.

Represented VG Growth Partners in its investment in free2B Foods, a producer of premium, healthy snack foods.

Represented luxury brand in general corporate matters including negotiating service and sponsorship arrangements.

Represented a Texas-based securities company in acquiring a term loan and revolving credit facility.

Represented a national football league team in a class action.

Analyze strategic credit facilities and consolidation for client, a family-run group of companies focused on sports, media and real estate.

Representing New York Racing Association in a joint venture with Churchill Downs and Pinnacle.