Hogan Lovells recently announced its involvement in two separate transactions in the professional sports industry.
The Washington Commanders
First, a team of attorneys at the firm helped guide a consortium led by Josh Harris in its acquisition of the NFL’s Washington Commanders for a reported $6.05 billion, which is the highest value sports franchise transaction in U.S. history.
Specifically, the legal team advised Harris and the consortium on the structure of the transaction and compliance with league rules and policies.
The team was led by Denver-based, head of the firm’s sports practice group, Matt Eisler, firm partner, Mark Weinstein (New York), counsel, Steve Argeris (Washington, D.C., and New York), and lead associates, CJ Harrington and Danielle Litwak, with support from counsel, Eric Andalman, senior associates, Emma Jane Dowell and Peter Dixon, and associates Stephanie Block-Guedez, Lexi Bender, Christiana Fell, Eli Mekonen, and Hanna Wynn. In addition, Davis Pol acted as co-counsel.
Harris is an investor, business leader and philanthropist whose career spans private equity, sports, entertainment, impact and more. He is the Founder of 26North, a next-generation, multi-asset class alternatives platform. Harris is also the Founder and Managing General Partner of Harris Blitzer Sports & Entertainment (HBSE), a leading sports & entertainment platform that includes the Philadelphia 76ers, New Jersey Devils and Prudential Center, among other marquee assets. Harris is a General Partner of the Crystal Palace Football Club in the Premier League. Earlier in his career, Harris co-founded and spent more than 30 years at Apollo Global Management.
The Harris consortium comprises several new owners local to the Washington area, and numerous high-profile individuals including NBA legend, Magic Johnson, former Google Chief Executive, Eric Schmidt, and Blackstone executive and Co-Founder of Harris Blitzer Sports & Entertainment, David Blitzer.
The consortium won an auction for the Commanders, which had been put up for sale by previous owners Dan and Tanya Snyder. The purchase has been agreed upon with the current owners and is subject to approval from the league and team owners.
This is the second major NFL transaction the firm’s sports practice group has led in 18 months – the only two since the 2018 sale of the Carolina Panthers. In June 2022, the team also led a consortium helmed by Walmart heir, Robert Walton, in the acquisition of the Denver Broncos for a reported $4.65 billion, which was nominated for the 2023 Deal of the Year in Sports Business Journal.
Washington Spirit
In another deal, the firm guided client, Michele Kang, controlling owner of the National Women’s Soccer League’s Washington Spirit, in a groundbreaking agreement with OL Groupe that will see the creation of the world’s first woman-owned, multi-national, multi-team, women’s football organization.
In an all-stock deal, OL Groupe will contribute its women’s team, OL Féminin, winners of eight Champions’ League and 15 French D1 Arkema league titles, and Kang will contribute the majority share of the 2021 NWSL champion Washington Spirit, through YMK Holdings, to create a new independent entity. YMK Holdings will hold the majority interest in the new entity. OL Groupe will continue to support the new entity through the provision of services including the use of Groupama Stadium, Groupama OL Training Center, and OL Academy. This new global platform will look to acquire additional clubs in other countries in Europe, the Americas, and Asia. Kang will also join OL Groupe’s Board of Directors.
Hogan Lovells’ team in the transatlantic deal was led by co-led by Steve Argeris and Robert Welp, with support in the United States from Mark Weinstein, senior associates Emma Dowell and Rachel Shelbourne, and associates CJ Harrington and Danielle Litwak. A European team in Paris also supported the agreement, co-led by Matthieu Grollemund and Emmanuel Vrillon-Darcy, with support from Mikael Salmela, and associates Ombeline Despres and Daghan Ozturk.
Kang is a businesswoman, investor, and philanthropist, and became the controlling owner of the Washington Spirit in 2022, which was a deal that was also guided by Hogan Lovells and was similarly nominated for Deal of the Year by Sports Business Journal.
Hogan Lovell’s work in the space is one of the reasons it was included, again, in “100 Law Firms with Sports Law Practices You Need to Know About” – www.100lawfirms.com
In addition, the aforementioned head of the firm’s sports practice group, Matt Eisler, was recently interviewed on the Sports Law Expert Podcast, which can be heard here – https://podcasters.spotify.com/pod/pod/show/holt-hackney/episodes/A-visit-with-Sports-Lawyer-Matthew-Eisler–of-Hogan-Lovells-e1pofe1
