ahead ofthegame Sports Law SECTION ROW SEAT 86 H 1 625985297547 Hitting home runs Building Synergies with Renowned Brands for a legendary brand Herrick created the framework Rebuilding the House that Ruth Built and template agreements Game Day Our Sports Law Group rallied Herrick’s that govern advertising, real estate, corporate and tax lawyers promotion and product to structure five separate bond financ- placement rights for stadium Herrick’s Sports Law Group began advising the New York Yankees in the early ings, totaling in excess of $1.5 billion, sponsors. We have also which laid the financial foundation helped the Yankees extend Smooth Ride for Season Ticket Licensees 1990s, right as they began their march into a new era of excellence, both for the new Yankee Stadium. Our their brand by forming Playing musical chairs with tens of thousands cross-disciplinary team also advised on innovative joint ventures for of sports fans is tricky. We co-designed on and off the field. For more than two decades, our lawyers have helped the a number of complex matters related to a wide range of products, with the Yankees a season ticket license world’s most iconic professional sports franchise form innovative joint ventures, the new Yankee Stadium’s lease including the best-selling program for obtaining the rights to seats and construction. New York Yankees cologne. at the new Yankee Stadium. unleash new revenue streams, finance and build the new Yankee Stadium, and maximize the value of the team’s content – all of which have contributed Sparking the Regional to a global brand that’s unparalleled in the history of professional sports. Cable Sports Boom In the early 2000s, the Yankees drew on our skills to create Hard Rocking Restaurant Deals YankeeNets LLC, a first-of-its-kind We helped the Yankees fire up a joint venture with Hard Rock partnership with the NBA’s New SPORTSBUSINESS JOURNAL International that’s given fans sizzling new dining experiences Jersey Nets, which increased the Named an Elite National Firm – a new Hard Rock Café and NYY Steak restaurant at Yankee negotiating power for both teams’ Stadium, and a NYY Steak restaurant near Rockefeller Center. media rights. We subsequently CHAMBERS USA restructured YankeeNets LLC Nationally Ranked Fueling the Memorabilia Market into Yankee Global Enterprises LLC for Excellence and advised on the creation of the Eager fans can now snap up authenticated, game-used memo- first regional cable sports network rabilia thanks to the Yankees’ joint venture with Steiner Sports, PROFESSIONAL SPORTS AND THE LAW of its kind – the YES Network. which we structured along with the Yankees Memorabilia Store. Top 20 U.S. Sports Law Firm (See page 6 for full story.) LEGAL 500 Legendary Ballpark Experiences Playing Ball on the Airwaves Top 15 U.S. Sports Law Firm When today’s fans head to the stadium, they want more than a To keep fans cheering wherever game – they want an experience. We advised the Yankees in an they may be, the Yankees engaged THOMSON REUTERS WESTLAW™ AND THE ASSOCIATION agreement with Legends Hospitality that led to a new standard of OF CORPORATE COUNSEL us to forge a multi-year broadcast premium ballpark dining and entertainment, covering concessions, agreement with CBS Radio to "Successful Partnering Between Inside dining, merchandise and hospitality. simulcast games on WFAN-AM and Outside Counsel," legal treatise (See page 6 for more of our work with Legends.) and WFAN-FM. chapter on sports teams LONN TROST, NEW YORK YANKEES; IRWIN KISHNER, Additional Stadium Experience DANIEL ETNA Our lawyers regularly advise team owners on a wide range of Honoring the All-time Greats Chambers Global Guide to Sports Law – stadium financing, leasing, construction, naming rights and operational matters. Our work spans major venues across the To keep its legacy in the spotlight, the Yankees Law & Practice Section country, including the new Yankee Stadium, Citi Field, Red Bull called on us to license the New York Daily News’ IRWIN KISHNER, DANIEL ETNA, BARRY WERBIN, Arena, MetLife Stadium, MCU Park, Amalie Arena, Richmond photo archive of Yankees players and stadium BRIANA ROSE MEGINNISS County Bank Ballpark, Vivint Smart Home Arena, PNC Field, imagery. We also advised on the creation of Audi Field and Las Vegas Raiders Stadium. the Yankees Museum, which features rotating exhibits on key players, events and themes in Yankees history. “ Herrick’s full-service legal team provides expert advice on all facets Beyond Baseball: Monetizing the Stadium Capitalizing on Connectivity In connection with the first college football game at the new Yankee Through a range of agreements with AT&T, of our deals. From straight business matters to complex financings Stadium – Notre Dame vs. Army – we created a comprehensive site we helped the Yankees get their new stadium and innovative joint ventures, Herrick gets the job done.” agreement that managed sponsorship rights and revenue distribution. wired for action – with Internet, Wi-Fi and And we’ve used the same model for other events, such as concerts telecommunications networking systems. Lonn Trost, Chief Operating Officer, New York Yankees and the Stadium Slugfest. We also used that model for college football’s New Era Pinstripe Bowl, which matches teams from BCS conferences. 2 | HERRICK, FEINSTEIN LLP SPORTS LAW | 3 RECENT • We represented the University of Nevada, The Winning Edge Las Vegas (UNLV), in negotiating a joint- STADIUM use agreement with the NFL’s Las Vegas Raiders related to the development of the Innovative DEALS $1.9 billion Las Vegas Stadium Vince Lombardi said “Winning means you’re willing to go longer, work harder, and • In 2017, we advised D.C. United, four time sports financings give more than anyone else.” Over the years Herrick’s Sports Law Group has winner of the MLS Cup, in a senior secured financing facility of approximately $130 done exactly that for some of the industry’s biggest names. Here are a few of the million, together with a specialized tax WE HAVE REPRESENTED … assessment borrowing of $15 million, to finance the construction of Audi Field high-profile matters our lawyers have helped to shape. • an affiliate of a major league baseball franchise in a multi-billion dollar refunding of GENERAL ADMISSION T765082009 tax-exempt bonds in a conduit financing • a regional sports network in a refinancing of a HELPING OWNERSHIP $625 million secured term loan facility GROUPS GET IN THE GAME Championship Fights • an affiliate of the NFL’s New York Jets and Giants in a $650 million bond financing for We have represented a number of ownership groups MetLife Stadium • The eSports Scene in transfers of ownership, and in bids to acquire NBA, In August 2017, we advised Ultimate Fighting • a lender in a secured revolving credit facility to Championship in the Floyd Mayweather-Conor the New York Giants SEAT NHL and MLB franchises, including the: McGregor bout in Las Vegas – a $700-million 6 “behemoth” that broke the record for • We advised the New York Yankees in its • the owner and operator of a major league • Buffalo Bills • New Jersey Devils highest-grossing one-day sporting event investment partnership with Vision Esports, • Los Angeles Dodgers • New Jersey Nets baseball franchise in a $250 million syndicated the largest single shareholder of three • Minnesota Timberwolves • New York Islanders • Also in 2017, we assisted Top Rank with a full senior secured credit facility slate of championship fights, including a battle eSports companies – Echo Fox, a leading • Nashville Predators • San Diego Padres • a special purpose entity that is an affiliate ROW between WBO super featherweight title hold P professional eSports organization founded SPECIAL ADMISSION of a major league baseball franchise in the er Vasyl Lomachenko and two-time world title by three-time NBA champion Rick Fox; Twin - multi-million dollar refunding of municipal challenger Miguel Marriaga, and a match between Galaxies, a recognized authority on video tax-exempt bonds WBC and WBO junior welterweight title holder, game performance validation and player Terence Crawford and WBA junior welterweight rankings; and Vision Entertainment, a studio • a U.S. bank in the National Hockey League’s champion Julius Indongo that produces original eSports content $1.4 billion league-wide credit facility SEC 09 • Herrick is representing one of the preeminent Mementos and Memorabilia eSports organizations in their quest to dominate hit games such as League of SECTION ROW SEAT We have represented sports memorabilia leader Lelands 120 Legends, Rocket League and PLAYERUN in the acquisition and sale of many hallowed sports KNOWN’S Battlegrounds. Founded in SEC - treasures, including: early 2017, our client has since expanded New York Racing aggressively by acquiring and developing • Wilt Chamberlain’s 100-point basketball 107 A many of the world’s top competitive gamers 10 • Muhammad Ali’s Olympic gold medal Association • Babe Ruth’s baseball memorabilia ROW • Lou Gehrig’s “luckiest man address” jersey L Integrity Counsel SEC ROW • Jim Brown’s 1964 NFL championship ring SEAT 651919510019 • Mickey Mantle’s estate 67 • As Integrity Counsel, Herrick J • The San Francisco Examiner’s collection of sports photos 9 12 advises NYRA’s board of directors • Barry Bonds’ 73rd home run baseball SEAT and management to ensure that • A major collection of Roberto Clemente baseball cards NYRA, its officers, employees, and operations comply with all applicable laws and regulations • NYRA holds the exclusive right to
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