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Partners and associates in our sports finance group have wide-ranging experience with the needs of lenders, leagues, municipalities, and team owners in the structure and execution of team and sports facility finance. Our sports-specific financing experience helps clients navigate the industry’s complex maze of specialized financing participants, loan structures, and league debt rules. We’ve helped design some of those rules, and we’ve been at the table for a multitude of sports debt transactions, including league-wide, team-level, owner/partner, and stadium/arena financings. As the value of sports teams and the costs of facility construction continue to climb, these transactions increasingly require industry-specific structural features. Given the breadth of our practice, even younger associates in the sports group are well versed in “accommodation pledges,” “lender standstill consents,” and other specialized elements of the sports lending lexicon.
Representative Matters
- Representation of the Golden State Warriors in a team financing.
- Representing the D.C. Sports and Entertainment Commission in the financing of the Washington Nationals baseball stadium.
- Representing the NFL in its $2.5 billion league-wide commercial paper and term note financing program, and in the design and implementation (with both lenders and individual teams) of its ground-breaking multi-billion dollar “G-3” stadium financing program, including most recently in connection with the G-3 financings for the new Dallas and Meadowlands stadiums, with the Meadowlands stadium being a first-of-its-kind joint venture between the Jets and Giants.
- Serving as advisor to the NFL and the NHL in reviewing and structuring financings for a multitude of team franchises and related stadium/arena entities (recent examples, which are by no means exhaustive, include the Dallas Cowboys, New York Jets/Giants; Arizona Cardinals; Tampa Bay Lightning; Washington Capitals; and Anaheim Ducks).
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