The Possible Sale of the Commanders May Lead to Big Money
Co-chair of Herrick's Sports Law Group, Irwin Kishner, spoke to Law360 about the possible sale of the Washington Commanders and how it illustrates the value of professional sports franchises.
The article notes that the current owner has confirmed that he has hired a bank to explore options for selling the team after multiple investigations into accusations of a toxic workplace environment, reaffirming that owners in the NFL and other major American sports leagues will refuse to give up their teams except under extreme circumstances.
Irwin explained that the "stampede to buy into the NBA, Major League Baseball and especially the NFL always exceeds the actual available landing places. In turn, that has driven prices up."
"It's supply and demand," Irwin continued. "There's a limited number of teams, and when people get into the fraternity or sorority, they don't want to leave it. They want to remain members of the club."
Read the full article in Law360 here. Access may require a subscription.