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Peter Zern’s practice focuses on the sports industry where he represents clients in a wide range of matters including mergers and acquisitions, debt and equity financings and media, sponsorship, naming rights, apparel and other commercial matters. Mr. Zern also has extensive experience in negotiating and structuring mergers and acquisitions and debt and equity financings outside of the sports industry.
Within the sports industry, Mr. Zern regularly counsels sports leagues and governing bodies such as MLB, the NBA, NFL, NHL and UFC, the US Olympic Committee, the American Athletic Conference and a range of others in connection with acquisitions and other team transactions, debt and equity financings, stadium construction and renovations and a range of governance matters. In addition, Mr. Zern regularly works with these clients on media rights and sponsorship transactions as well as a host of other commercial transactions.
In addition to league work, Mr. Zern also regularly advises teams, team owners and prospective owners and investors in connection with acquisitions and divestitures, financings, media rights and commercial matters. He represents both lenders and borrowers in secured and unsecured financings.
- Represented Steve Ballmer in connection with his acquisition of the Los Angeles Clippers, and represented Christopher Cohan in connection with the sale of the Golden State Warriors NBA franchise.
- Represented the RAINE Group in connection with its structuring and creation of the “Reigning Champs” investment platform, and represented Reigning Champs in a range of acquisitions and related matters in the youth athletics space.
- Represented the National Football League in connection with various league and team financings, including its league-wide term note and revolving credit facility programs and in its “G-3” and “G-4” stadium funding programs.
- Represented a major New York-based mezzanine finance institution in the structuring and negotiation of a range of mezzanine financing transactions and in the acquisition of the name and likeness rights to a major soccer star, and represented a separate New York-based bank in connection financings to professional NBA franchises and arena companies.
- Represented MLB, the NBA, the NHL, the USOC, the American Athletic Conference, the Atlantic 10 Conference and others in connection with the negotiation of their national media rights agreements, and represented Turner Sports in connection with its acquisition of rights to the NCAA “March Madness” men’s basketball tournament in partnership with CBS.
- Represented Major League Baseball in the launch of The MLB Network, including the negotiation of joint venture arrangements with distributors for ownership of the channel and with WWE in the launch of its “over-the-top” network offering.
- Represented the NHL in connection with the license of its digital rights and related properties to MLB Advanced Media
- Represented Contech Engineered Solutions (formerly Contech Construction Products) in its recent recapitalization, including implementation of new equity ownership and long term financing of both first lien and second lien debt, and in a number of M&A transactions, including its acquisitions of Imbrium Systems Corp., Thompson Culvert Company, Plateau Pipe Company and the Hanson Company.
- Represented JLG Industries, Inc. in its $3.2 billion merger into Oshkosh Truck Corporation, its acquisition of Omniquip and Delta Manlift, its disposition of Gradall Industries, a public offering of $125 million of common stock, private placements of $125 million senior notes and $175 million senior subordinated notes and its $200 million senior secured credit facility.
- Represented Avid Technologies in negotiation of multiple financing arrangements, Joy Global, Inc. in negotiation of multiple terms and revolving credit facilities as well as an acquisition finance facility, collectively totaling over $1 billion in debt, and represented Patagonia in negotiation of its current credit facilities.
Pro Bono
- Representation of an Independent Advisory Committee, chaired by former NFL Commissioner Paul Tagliabue, in connection with its examination and recommendations regarding the governance of the US Olympic Committee.
January 22, 2018
WASHINGTON—Covington advised Bacardi Limited in its definitive agreement to acquire Patrón Spirits International AG and its PATRÓN® brand, the world’s top-selling ultra-premium tequila, from John Paul DeJoria, a founder of Patrón. The transaction reflects an enterprise value for Patrón of $5.1 billion. The transaction follows the successful relationship the ...
Sports Group Of The Year: Covington & Burling
February 7, 2017, Law360
Law360 selected Covington’s Sports practice as a “Practice Group of the Year,” profiling the team’s successful representation of the U.S. Olympic Committee (USOC) in an antitrust challenge over its advertising restrictions, involvement in significant deals, and continued representation of the National Football League. Derek Ludwin, commenting on the USOC case, ...
June 27, 2016
WASHINGTON—SportsBusiness Journal has named Covington partners Doug Gibson, Gregg Levy, Bruce Wilson, and Peter Zern to the highest tier in its 2016 “Power Players: Outside Counsel” rankings. Included in the SportsBusiness Journal’s “Chairman’s Club,” the Covington team is recognized in the “dominant tier in sports law” because of “a long history in the space” ...
April 12, 2016
NEW YORK — Covington advised Turner Sports on the extension of its rights to distribute the NCAA men’s basketball tournament via a partnership with CBS. With the extension in place, Turner and CBS will hold the media rights for “March Madness” through 2032. The new agreement allows the networks to distribute the tournament games across a wide range of their ...
Covington Receives Top Tier Rankings from Legal 500 U.S.
June 9, 2015
WASHINGTON, DC, June 9, 2015 — The Legal 500 U.S. has ranked Covington as a top tier firm in nine practice areas and recognized 25 individual attorneys as “Leading Lawyers” in the directory’s 2015 edition. Additionally, Legal 500 recommended 36 Covington practice areas and 156 Covington lawyers. Top tier rankings include: Antitrust - Cartel Antitrust ...
October 6, 2014, The American Lawyer
Covington is featured in this article regarding the firm advising the National Basketball Association on a media rights deals with Walt Disney Co. and Time Warner Inc.’s Turner Broadcasting System. "The agreement comes on the heels of the NFL's renewal of its Sunday Ticket game package with DirecTV last week. Covington counseled its longtime client the NFL on ...
August 18, 2014
WASHINGTON, DC, August 18, 2014 — Best Lawyers named Covington & Burling’s Stuart Eizenstat and Gregg Levy each a 2015 “Lawyer of the Year” in international trade and sports law, respectively, citing their “abilities, professionalism and integrity.” Overall, Covington lawyers received 217 individual mentions in 58 areas of law in the newly released annual survey ...
Covington Advises Steve Ballmer on Clippers Purchase
5/30/2014
WASHINGTON, DC, May 30, 2014 — Covington & Burling advised Steve Ballmer on his agreement to purchase the Los Angeles Clippers from The Sterling Family Trust for $2 billion. "I will be honored to have my name submitted to the NBA board of governors for approval as the next owner of the Los Angeles Clippers. I love basketball," Ballmer said in a statement. "And ...
May 30, 2014, Law360 - 5 Must-Know Facts About Ballmer's $2B Clippers Bid
Covington advised Steve Ballmer on his agreement to purchase the Los Angeles Clippers from The Sterling Family Trust for $2 billion. The firm is mentioned in the above articles regarding the deal. Law360 writes, "Steve Ballmer is represented in the latest deal by a Covington & Burling LLP team led by Doug Gibson, Scott Roades and Peter Zern, including Rob ...
November 26, 2013
WASHINGTON, DC, November 26, 2013 — Covington & Burling advised the National Hockey League in negotiating its twelve-year, C$5.2 billion agreement with Rogers Communications for national broadcast and multimedia rights to NHL games, including the Stanley Cup Playoffs and the Stanley Cup Final, in Canada. The agreement is the largest media rights deal in NHL ...
Covington’s Razi and Zern Named ’Rising Stars’
4/22/2013
WASHINGTON, DC, April 22, 2013 — Covington & Burling partners Benjamin Razi and Peter Zern have been selected as “Rising Stars” by Law360. The online legal publication recognized lawyers “under the age of 40 who are already making a name for themselves in their practice areas.” In a profile, the publication noted Mr. Razi’s white collar work, as well as his ...
August 27, 2012
WASHINGTON, DC, August 27, 2012 — Covington & Burling LLP lawyers received 196 individual mentions in 57 areas of law in the 2013 edition of The Best Lawyers in America. This annual compilation of top U.S. lawyers is based on peer-review surveys and is used as a referral guide in the legal profession. The Covington lawyers recognized are as ...
April 13, 2012
WASHINGTON, DC, April 13, 2012 — Covington & Burling advised Tom Benson, the longtime owner of the New Orleans Saints, in his purchase of the New Orleans Hornets for an undisclosed sum. The purchase and related agreements were finalized this week. Closing is expected before the end of June. “I am very grateful to Bruce Wilson and the Covington team,” Mr. ...
March 13, 2012
WASHINGTON, DC, March 13, 2012 — Street & Smith’s SportsBusiness Journal has named Covington & Burling LLP partner Peter Zern a recipient of its “Forty Under 40” award. The annual list honors the best and brightest executives in the sports business industry under the age of 40, and is described by the publication as the most coveted award in sports business. ...
Covington Helps BIG EAST Go West
December 7, 2011
WASHINGTON, DC, December 7, 2011 — The BIG EAST Conference announced today that it has reached an agreement for the admission of five new members. Covington & Burling represented the BIG EAST in its negotiations with each of the five schools. Under the agreements, University of Central Florida, University of Houston and Southern Methodist University will begin ...
September 7, 2011
WASHINGTON, DC, September 7, 2011 — Covington & Burling LLP lawyers received 184 individual mentions in 56 areas of law in the 2012 edition of The Best Lawyers in America. This annual compilation of top US lawyers is based on peer-review surveys and is used as a referral guide in the legal profession. The Covington lawyers recognized are as follows: ...
Covington Advises UFC on Fox Deal
August 22, 2011
WASHINGTON, DC, August 22, 2011 — Zuffa LLC, parent company of the Ultimate Fighting Championship, and Fox have agreed to a seven-year broadcast deal that will distribute live and taped mixed martial arts programming across the broadcast network's multiple television platforms beginning in January 2012. Covington & Burling LLP advised UFC on the transaction. The ...
July 15, 2011
WASHINGTON, DC, July 15, 2011 — Joy Global Inc. (NASDAQ: JOYG), a worldwide leader in high-productivity mining solutions, reported yesterday that it has signed a definitive agreement to acquire approximately 41 percent of the outstanding common stock of International Mining Machinery Holdings Ltd. (IMM), a Hong Kong listed designer and manufacturer of ...
June 10, 2011
WASHINGTON, DC, June 10, 2011 — Covington & Burling LLP received 123 individual mentions and 45 practice mentions in Chambers USA 2011. The guidebook, which ranks lawyers by state and national practice area, is designed to identify the most skilled legal practitioners based on the qualities most valued by clients. Here are the Covington lawyers and practices ...
5/16/2011
WASHINGTON, DC, May 16, 2011 — Joy Global Inc. (NASDAQ: JOYG), a worldwide leader in high-productivity mining solutions, reported today that it has signed a definitive agreement to acquire 100 percent ownership interest in LeTourneau Technologies, Inc. (“LeTourneau”) from Rowan Companies, Inc. (“Rowan”) (NYSE: RDC) for $1.1 billion in cash. LeTourneau designs, ...
Covington Advises IMG College in Launch of TV Network for The University of Texas at Austin
January 24, 2011
WASHINGTON, DC, January 24, 2011 — The University of Texas at Austin, ESPN and UT Athletics' multimedia rights partner IMG College have announced a 20-year agreement to create what soon will be the nation's largest 24-hour television network dedicated to covering a university's intercollegiate athletics, music, cultural arts and academic programs. Covington ...
September 8, 2010
WASHINGTON, DC, September 8, 2010 — Covington & Burling LLP partner Peter Zern has been named to Washington Business Journal’s “40 Under 40.” The list recognizes the Washington region's brightest young business leaders based on demonstrated business success. At Covington, Mr. Zern advises many of the firm’s sports clients on media transactions, finance, and ...
July 15, 2010
WASHINGTON, DC, July 15, 2010 — Covington & Burling LLP is pleased to announce the signing of a Purchase Agreement for the sale of the Golden State Warriors, the NBA franchise based in Oakland, California, to an investor group led by Kleiner Perkins Caufield & Byers Managing Partner Joe Lacob and Mandalay Entertainment Group Chairman Peter Guber. The sale price ...
June 23, 2010
WASHINGTON, DC, June 23, 2010 — Covington & Burling LLP received 85 individual mentions and 23 practice mentions in the Legal 500 US 2010 edition. Legal 500 reviews the strengths and strategies of law firms in more than 90 countries in Europe, the Middle East, Asia, North and South America, and the Caribbean. Here are the Covington lawyers and practices ...
June 16, 2010
WASHINGTON, DC, June 16, 2010 — Covington & Burling LLP received 112 individual mentions and 44 practice mentions in Chambers USA 2010. The guidebook, which ranks lawyers by state and national practice area, is designed to identify the most skilled legal practitioners based on the qualities most valued by clients. Here are the Covington lawyers and practices ...
April 23, 2010
WASHINGTON, DC, April 23, 2010 — The NCAA has announced a new 14-year television and new media rights agreement with CBS Sports and Turner Broadcasting System, Inc., to present the Division I Men's Basketball Championship beginning in 2011 through 2024 for total rights fees of approximately $10.8 billion. As part of the agreement, all games will be shown live ...
December 11, 2009
WASHINGTON, DC, December 11, 2009 — The U.S. Olympic Committee (USOC) announced the members of the independent Advisory Committee established by USOC’s Board of Directors to assess the USOC's board structure and operations model. The 14-member committee will be chaired by Paul Tagliabue. The committee's members have wide-ranging experience with youth and ...
Covington Advises Energy Conversion Devices on Acquisition of Solar Integrated Technologies
7/22/2009
WASHINGTON, DC, July 22, 2009 — Energy Conversion Devices, Inc. (ECD), a NASDAQ-listed leading global manufacturer of thin-film flexible solar laminate products for the building integrated and commercial rooftop markets, and Solar Integrated Technologies, Inc. (SIT), an AIM-listed leading provider of building integrated photovoltaic roofing systems, today ...
June 12, 2009
WASHINGTON, DC, June 12, 2009 — Covington & Burling LLP received 100 individual mentions and 40 practice mentions in Chambers USA 2009. The guidebook, which ranks lawyers by state and national practice area, is designed to identify the most skilled legal practitioners based on the qualities most valued by clients. Here are the Covington lawyers and practices ...
3/27/2009
WASHINGTON, DC, March 27, 2009 — For the second straight year, Covington & Burling LLP partner Peter Zern has been named to Street & Smith’s SportsBusiness Journal’s “Forty Under 40.” The 10th annual list honors the best and brightest executives in the sports business industry under the age of 40, and is described by the publication as the most coveted award in ...
June 16, 2008
WASHINGTON, DC, June 16, 2008 — Covington & Burling LLP received 81 individual mentions and 45 practice mentions in the newly released 2008 Chambers USA. The guidebook, which ranks lawyers by state and national practice area, is designed to identify the most skilled legal practitioners based on the qualities most valued by clients. Here are the Covington ...
3/3/2008
WASHINGTON, DC, March 3, 2008 — Covington & Burling LLP partner Peter Zern has been named to Street & Smith’s SportsBusiness Journal’s “Forty Under 40” Class of 2008, described by the publication as the most coveted award in sports business. The annual list, which first appeared in 1999, honors the best and brightest executives in the sports business industry ...
Covington Elects Six New Partners
10/1/2007
WASHINGTON, DC, October 1, 2007 — Covington & Burling LLP announced that six of its associates have been elected to the firm’s partnership, effective today. Stuart Stock, chair of the firm’s management committee, commented, “These six outstanding men and women are representative of Covington’s depth and excellence. We are pleased to welcome them to our ...
9/26/2007
WASHINGTON, DC, September 26, 2007 — Covington & Burling LLP advised Belo Corp. in a new strategic partnership with Mochila, Inc. whereby Belo will become a premier content syndication partner in the Mochila online content marketplace. In addition, Belo has made an equity investment in Mochila. Covington represented Belo with respect to both the online content ...
March 8, 2007
WASHINGTON, DC, March 8, 2007 — Major League Baseball announced the launch of the MLB Channel today in connection with its seven-year agreement with DIRECTV to carry the MLB EXTRA INNINGS subscription package of out-of-market games. DIRECTV will be a minority partner in the MLB Channel, and will work with MLB to develop the new network. Scheduled to launch in ...
Covington Advises Barclays on Naming Rights Deal
January 19, 2007
WASHINGTON, DC, January 19, 2007 — Barclays has announced that it will pay an undisclosed amount for naming rights to the new Barclays Center located in Brooklyn, New York for a term of 20 years. Covington & Burling LLP advised Barclays on the transaction.The new Barclays Center is the core feature of the Frank Gehry designed $4 billion Atlantic Yards ...
Covington Advises JLG Industries in $3.2 Billion Merger into Oshkosh Truck Corporation
10/16/2006
WASHINGTON, D.C., October 16, 2006 — The board of directors of JLG Industries, Inc. (NYSE: JLG) has approved an all cash offer of $28.00 per common share to merge with, and become, a subsidiary of Oshkosh Truck Corporation (NYSE: OSK). According to JLG’s press release, the $3.2 billion merger is dependent on the approval of JLG shareholders. The transaction is ...
- Chambers USA, Sports Law (2008-2018)
- Best Lawyers in America, "Washington Sports Lawyer of the Year" (2014, 2016)
- Best Lawyers in America (2012-2018)
- LawDragon 500 Leading Lawyers (2013-14)
- Law360, Rising Stars (2013)
- Legal 500 US, Sports (2014-2017) and M&A/Corporate and Commercial (2015)
- Washington DC Super Lawyers, Entertainment & Sports (2014-2018)
- Washington DC Super Lawyers, "Rising Star" (2013)
- SportsBusiness Journal
- Power Players: Outside Counsel” list in its highest tier, “Chairman’s Club” (2016)
- Forty Under 40 Hall of Fame (2012)
- Forty Under 40 (2008-2009, 2012)
- Washington Business Journal, 40 Under 40 (2010)