Covington Advises Lukas and Samantha Walton in Minority Investment in the Chicago Bulls and the United Center

NEW YORK/WASHINGTON—Covington advised Lukas and Samantha Walton in connection with their acquisition of a minority interest in the Chicago Bulls and the United Center.

The transaction involved the purchase of existing stakes from certain limited partners. The Reinsdorf family will continue to hold the controlling interest in the Chicago Bulls, and the Reinsdorf and Wirtz families will continue to hold the controlling interests in the United Center and the adjacent mixed-use development known as The 1901 Project.

“The Chicago Bulls are as iconic as the city itself, and this transaction reflects our dedication to the city’s future,” the Waltons said in a statement. “We have long admired the vision the Reinsdorf and Wirtz families have set forth for The 1901 Project, and we look forward to the United Center’s continued positive impact on Chicago’s West Side.”

The deal has been covered by a number of media outlets including the Sports Business Journal, CNBC, Forbes, Bloomberg, and Chicago Sun-Times. The Covington team included Peter Zern, David Simon, Kate Kraus, Amina Stone-Taylor, and Taylor Wells.