The following didn’t arrive in time for last week’s issue in which Chuck Baker and Irwin Raij Joined Sidley. The short interview follows below.
Question: How will Chuck and Irwin’s practice change at Sidley?
(Chuck) We’ve done a number of deals in Europe and are seeing an increase in deals originating in markets outside of the US. We expect that we’ll be able to lead and advise in more transactions in foreign markets given Sidley’s deep penetration in Europe and global platform. Likewise, there has been increased interest from Europeans investing in U.S. teams and sports properties, so we anticipate our practice to grow on both sides of the pond.
(Irwin) The Core of the practice will remain intact, but we do envision opportunity to further build and expand the practice along Sidley’s geographic footprint with expanded capabilities in Europe, Asia, Texas and the Midwest. We’ll be able to build on our existing [] sports business practice, both domestically and abroad. This includes M&A, stadium development, ancillary development around stadiums, sponsorship and operational agreements.
Question: What specifically attracted them to Sidley in terms of fit?
(Chuck) We were very impressed with Sidley’s premier private equity practice and are excited to draw on their expertise as we expand our practice. Additionally, we’ll be able to work directly with Sidley colleagues in foreign markets – there are 250 Sidley lawyers in Europe alone – allowing us to deliver great results for our clients for our clients, often with a more limited role for local counsel.
(Irwin) It’s hard to identify one thing. It was a combination of factors that included Sidley’s stellar reputation, deep bench, strong leadership and its desire to be in South Florida.
Question: Do they see this as validation that sports is a coveted practice area and why?
(Irwin) Most definitely. The sports market is exploding right now and we’re only expecting that activity to increase. Investments in the sports space are relatively sheltered from stock market conditions and given today’s landscape, many investors are seeking long-term assets that hold their value. A firm of Sidley’s caliber making the investment to bring on our team represents that confidence in the space.
