Covington & Burling LLP operates as a limited liability partnership worldwide, with the practice in England and Wales conducted by an affiliated
limited liability multinational partnership, Covington & Burling LLP, which is formed under the laws of the State of Delaware in the United States
and authorized and regulated by the Solicitors Regulation Authority with registration number 77071..
Peter Zern is one of the country’s preeminent sports lawyers, advising a wide range of clients on sports-related transactions, including some of the largest and most innovative transactions in the industry. He has done work for all of the major U.S. leagues, numerous individual teams and owners, as well as other governing bodies, lenders, investors, sponsors, and strategic partners.
Peter is co-chair of our Sports practice, and has been actively involved in the sports industry for 25 years.
Peter regularly advises the NFL in connection with its team-related acquisitions, financings, stadium development and relocation issues, as well as in connection with the NFL’s financing arrangements (both as borrower and, in the case of the NFL’s G-3 and G-4 stadium programs, also as lender).
Peter has also handled some of the largest team acquisitions and sales in the industry, including the acquisition of the Phoenix Suns, Utah Jazz, LA Clippers, New Orleans Pelicans, Kansas City Royals, and Chicago Fire, the acquisition of the Austin FC expansion franchise, and the sale of the Golden State Warriors and Columbus Crew. In addition to those control sales, he has also been involved in numerous sales of minority interests across numerous teams in the NBA, MLB, and MLS.
At the league level Peter routinely assists the country’s premier sports leagues with their most important national media rights, data and sports betting agreements, including work on media rights matters for MLB, MLS, the NBA, the NFL, the NHL, the PGA Tour, the USOPC, and others, and work on data and sports betting matters involving MLS, the NBA, and the WTA. Peter has similarly been involved in local media rights transactions for numerous teams, including the LA Clippers, Las Vegas Golden Knights, Memphis Grizzlies, and Chicago Cubs, and also regularly assists individual teams and sponsors in connection with major naming rights, sports betting, and other strategic transactions.
Peter’s practice also includes assisting leagues, teams, investors, and lenders in connection with joint ventures as well as equity and debt financing transactions. Among others, Peter assisted the NBA in the development and launch of NBA Africa and the Basketball Africa League, the PGA Tour in connection with its joint venture with Discovery for the distribution of international digital rights, and the U.S. Olympic & Paralympic Committee in the creation of a joint venture with LA28 for the hosting of the 2028 Olympic Games in Los Angeles. Peter has also worked on numerous equity and debt financing transactions and stadium and arena development and financing transactions.
In 2012, Peter was inducted into the SportsBusiness Journal's Hall of Fame after being named one of the "Forty Under 40" most influential executives in the sports industry for 2008, 2009, and 2012, and has been recognized numerous times as one of the top sports attorneys in the country by Chambers USA.
Mathew Ishbia in the acquisition of a controlling interest in the Phoenix Suns, Phoenix Mercury, and related assets.
Ryan Smith in the acquisition of the Utah Jazz NBA franchise and related assets, in connection with related equity investments in the Jazz ownership group, and in the acquisition of an interest in the Real Salt Lake MLS franchise alongside David Blitzer and other investors.
Precourt Sports Ventures in its acquisition of the Austin FC MLS franchise and concurrent disposition of the Columbus FC franchise, and in related relocation, stadium development and equity investment matters associated with the move to Austin.
Joe Mansueto in the acquisition of a 49% interest in the Chicago Fire Major League Soccer Club from Andrew Haupt and in the subsequent acquisition of the remaining 51% interest.
John Sherman and the Sherman Group in its acquisition of the Kansas City Royals from David Glass and his family.
Steve Ballmer in his acquisition of the Los Angeles Clippers from The Sterling Family Trust.
Tom Benson, owner of the New Orleans Saints, as buy-side counsel in his acquisition of the New Orleans Hornets NBA franchise.
The NBA in the creation of its NBA Africa business line and in connection with related joint venture investments by third parties.
The NBA in establishing a joint venture for the launch of an esports league for competitive play of NBA 2K, including negotiating the joint venture and licensing agreements with Take Two Interactive; structuring league and issuing franchises; implementing rules; and implementing arrangements with teams, players, stakeholders and sponsors.
The United States Tennis Association in the sale of the Western & Southern Open tennis tournament to Beemok Capital.
Commercial Transactions
National media rights and related transactions for MLB, MLS, NBA, NFL, NHL, US Olympic and Paralympic Committee, American Athletic Conference, Atlantic 10 Conference and a range of others, as well as local media rights transactions for numerous teams including the LA Clippers, Memphis Grizzlies, Chicago Cubs, and Las Vegas Golden Knights.
Naming rights transactions, jersey patch and other major sponsorships for a host of teams, venues, and individual sponsors, including naming rights transactions for the Arizona Cardinals’ stadium and practice facilities, naming rights transactions for Monumental Sports & Entertainment (owner of the Washington Capitals and Wizards) and the San Francisco Giants.
Sports betting, streaming and data collection agreements for the NHL and MLS, representation of Stats Perform in the negotiation of sports betting, streaming and data collection rights for the WTA Tour, and representation of Monumental Sports & Entertainment in its partnership with William Hill to create the first sportsbook at a U.S. professional sports venue.
The PGA TOUR in the negotiation of an all-encompassing international media rights agreement and related joint venture with Discovery.
Financings
The National Football League in connection with various league-level financings, team ownership transactions and team and stadium financings, including its league-wide term note and revolving credit facility programs and its G-4 stadium financing program.
Austin StadCo in both construction and ultimate take-out financings related to the development of Q2 Stadium in Austin, Texas and in related team financings.
SEG Basketball and Ryan Smith in acquisition financing for the purchase of the Utah Jazz NBA franchise and its related assets and in related team and arena financings.
John Sherman and the Kansas City Royals in acquisition financing for the purchase of the Kansas City Royals MLB franchise and in related team financings.
Chicago Fire in its secured financing from Bank of America.
The USOPC in its issuance of senior secured notes.
Advised a New York-based mezzanine fund on the structuring and negotiation of several secured and mezzanine financing transactions, including the acquisition of commercial rights to a major athlete’s name and likeness and acquisition financings in the mitigation and restaurant industries
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.
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