Matters

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.

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 – 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. 

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.  

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.

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.

Resources

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.

Resources

Represent Borrower in Connection with Loan from Private Equity Firm

Represented cinematic production resource company, as borrower, in connection with a loan from private equity firm that partners with middle market companies. 

Represented Legends in Transactions with Premium Omni-Channel Food Tech Platform

Represented Legends in its investment in, and business partnership with, a premium omni-channel food tech platform that operates food halls in metropolitan areas and licenses various culinary brands, in negotiating and drafting an investment agreement, food hall management agreements, licensing and development agreements and various other operational agreements and side letters.

Privately Owned Real Estate Investment Advisory Firm -Acquisition of Health Care Related Properties

Representation of privately owned real estate investment and advisory firm, as managing member of programmatic joint venture with value-oriented REIT focusing on investment in institutional quality real estate to acquire and operate medical office buildings, together with other potential healthcare related properties across U.S. markets.

Represented Shareholders in Asset Sale of Independent Medical Examination Provider

Represented shareholders in multi-million-dollar sale of assets of an independent medical examination provider (IME). The IME serves insurance carriers, employers, and third-party administrators, to leading provider of IMEs, peer reviews, Medicare compliance, record retrieval, document management and related services, with clients in the U.S., Canada, the United Kingdom and Australia.  The agreement provided for post-closing employment and restrictive covenants of selling shareholders and key personnel and bonus payments relating to key employee retention.

Advised on Potential Ownership Issues for Expansion Team of Professional Soccer Team

Represented potential owner of expansion team of professional soccer team in North America. Provided advice regarding the application process and provided analysis of franchise agreement and potential conflict issues. 

Employment Agreement – Professional Services Firm

Represented Chairman and President of a leading professional services firm that specializes in real estate and investment management firm in connection with his employment agreement.

Advised Online Betting Platform on Advance Deposit Wagering (ADW)

Advised a leading internet horse racing account wagering operator as to the legality of conducting advance deposit wagering (“ADW”) activities in the 50 states and D.C. ADW is a form of pari-mutuel wagering on horse racing whereby a person establishes an account with an ADW operator and subsequently communicates (typically via the internet) instructions concerning the wagering of the funds in such person’s account to the ADW operator. Advice based upon comprehensive review of applicable horse racing statutes and regulations and select federal gambling laws.

Represented Internet Account Wagering Operator on Technology Joint Venture

Represented a leading internet horse racing account wagering operator in formation of joint venture with major European gambling software engineering firm to develop technology and software that facilitates the operation of computerized advance deposit wagering (“ADW”) for horse racing.  ADW is a form of pari-mutuel wagering on horse racing whereby a person establishes an account with an ADW operator and subsequently communicates (typically via the internet) instructions concerning the wagering of funds in such person’s account to the ADW operator.

Represented Financial Advisory Firm in Business Combination

Represented a financial advisory and accounting firm based in the northeast in its restructuring and subsequent business combination transaction with a financial and tax advisory business.

Silas Capital – Investment in Boll & Branch

Represented Silas Capital in its investment in Boll & Branch (B&B), the leading designer and retailer of sustainable home goods.  Silas Capital’s interests were ultimately sold when B&B received a $100 million strategic investment from a global consumer-focused private equity firm. 

Investment Advisor/Property Managment Co – Regulatory Analysis

Represented a real estate investment advisory and property management company in establishing a presence in California and related tax analysis.

New York Racing Association – NYRA Bets National Betting Platform

Represented New York Racing Association in a joint venture formed to conduct the NYRA Bets national advance deposit wagering business.

Real Estate Firm – West Side Stadium Project – Naming Rights

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.

Investment Advisory and Property Mgmt Co. – Formation of Conduit Limited Liability Company

Represented a real estate investment advisory and property management company in the formation of a conduit limited liability company to facilitate distribution of carried interest from investment fund to employees of investment manager pursuant to an employee incentive compensation plan.

Investment Advisory Property Management Co. – Cybersecurity Regulatory Compliance

Represented a real estate investment advisory and property management company in preparation of comprehensive cybersecurity policies and procedures to ensure compliance with regulatory guidelines.

Electronic Cash-Transaction Payment System Contract

Represented a client in its partnership with an electronic cash-transaction payment system provider that enables its customers with limited access to financial services to make cash payments at local stores.

Real Estate Software Owner – Software Licensing and Service Agreement

Represented a provider of a web-based, multi-tenant reporting tool that aggregates real estate agent and lender data, in its software licensing and service agreement with a financial services technology provider that specializes in mortgage pipeline risk management.

Cybersecurity Policy

Represented a registered investment advisor in the drafting of its cybersecurity policies and procedures, and the development of a cybersecurity program which included an audit and assessment by an outside consultant. We also advised on the client's Form ADV.

Major League Sports Team – Dismissal of False Advertising Class Action

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.

Major League Baseball Franchise – Contract Dispute

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.

World Surf League – League Ownership, Operations and Surfer Agreements

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.

Regional Sports Network – $24 Million Equipment Lease Financing

Represented a leading regional sports network in a $24 million equipment lease financing facility provided by a major commercial bank. 

MetLife Stadium – $650 Million Bond Placement

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.

Private Lender – Funding Agreements

Represented a financial services company providing loans and financial accommodations to medium-sized and small businesses, in the development of financing forms, including loan participation agreements and receivable purchase agreements. In addition, we are consulting on the development of an off-shore lending facility suitable for non-resident, non-US investors.

Multinational Insurance and Reinsurance Company – Capital Markets and Regulatory Advice

Ongoing capital markets and regulatory advice to the investment advisory unit of a multinational insurance and reinsurance company.

Legends Hospitality – VenueNext

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.

Legends Hospitality – One World Observatory IP Rights

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.

Real Estate Investment Firm – Development of Hotel Branding and Operations Systems

Represented a real estate investment firm in the development of proprietary branding and operations systems for a unique hotel concept involving collaborative work spaces.