Top Sports Lawyers Command $10 Million Salaries Amid Poaching Frenzy
Irwin Kishner, co-chair of Herrick's Sports Law Group and co-chair of Herrick's Corporate Department, was quoted in Front Office Sports in an article discussing how the lawyers behind the biggest deals in sports are being recruited for not only their contacts in the sports world, but also their acumen in guiding teams and investors in navigating league politics, ownership rules and the complexities of multibillion-dollar transactions.
"The transfer portal is open for sports lawyers."
“It’s the law of economics, supply and demand,” said Irwin. “To get that kind of talent, you generally need to pay some sort of premium.”
The article noted that part of the frenzy is the result of the explosion of sports as an asset class, "with pro team valuations soaring and a larger ecosystem of leagues, media rights, sports betting, and private capital. All of this has created enough complexity and deal flow to justify sports-specific practices."
Buying a sports team has been viewed in the past as a vanity investment, but it is now seen as its own sector.
Read the full article in Front Office Sports here. Access may require a subscription.