Category: financial

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Hogan Lovells Advises Investor Group in the Acquisition of Hellas Verona Football Club

Hogan Lovells, a global law firm with deep expertise in the sports industry, advised Presidio Investors, an Austin, Texas-based private equity firm, in its announced acquisition of 100% ownership of the Hellas Verona Football Club.  The announcement was made by Presidio and Maurizio Setti, and Presidio is committed to building upon the foundation created by…
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WNBA Players Look to MLS and NWSL Financial Models; It’s Risky

By Christopher R. Deubert, Senior Writer at Hackney Publications In February 2020, MLS and the MLS Players Association (MLSPA) agreed to an unprecedented provision in their new collective bargaining agreement (CBA) – the salary budget (cap) would increase if MLS’ broadcast revenues increased “above the amount generated by the league in 2022 plus $100 million.”…
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Former CLO at NCAA Joins Board of Startup, Invests in Pro Team

In anticipation of closing its Series-A funding round, CheckN (www.checkN.com), a new Social Utility App that claims it “is changing the way brands, celebrities and venues engage fans,” has appointed a new member to its board. Specifically, it announced the addition of sports, business, and government executive Donald Remy, who is widely-known for over a…
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Maryland’ Sports Business Management Program Gets a Major Endowment

The University of Maryland Robert H. Smith School of Business is has announced that alumnus Stephen M. Schanwald ‘77, former Executive Vice President of Business Operations with the Chicago Bulls and a trailblazer in sports marketing, has given an $8 million gift to establish the Stephen M. Schanwald Sports Management Program. The gift is part…
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Sports Law Professor Quoted By NBC News in Article About Mets’s Ambition to Compete with Yankees

Mark Conrad, who directs the sports business concentration and is a professor of law and ethics at Fordham University’s Gabelli School of Business, was quoted by NBC News in an article the media outlet wrote about the New York Mets ambition to compete with the New York Yankees. The journalist suggested that “a region’s second-place franchise…
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SEC Cracks Down on CEO of Xtreme Fighting Championships, Inc. for Fraudulent Scheme

The Securities and Exchange Commission has announced that it has filed charges against Florida-based Xtreme Fighting Championships, Inc. (Xtreme Fighting) and its CEO, Steve A. Smith, Jr., for allegedly engaging in a fraudulent scheme to illegally sell large amounts of Xtreme Fighting stock to the investing public. The complaint alleges that the stock sales were…
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Proskauer Promotes Sports Lawyer to Partner

Proskauer has announced the promotion of 21 lawyers (15 to partner and 6 to senior counsel), including one sports lawyer, Arthur Burke, who was promoted to partner. Burke is part of the Corporate Department and a member of the Sports Group, focusing his practice on mergers and acquisitions, material transactions, governance and general corporate matters…
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SRLA Publishes Safe at First, a Detailed Risk Management Guide for the Academic Community and Industry Professionals

The Sport and Recreation Law Association (SRLA), whose mission is to further the study and dissemination of information regarding legal aspects of sport and recreation, announced today that it has published Safe at First, making it available through its distribution partner, Hackney Publications, at https://pubs.hackneypublications.com/SRLA/subscribe.html “This is the most detailed risk management guide ever written…
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Hackney Publications Partners with Cimarron Global Solutions to Create a New Publication Examining Sporting Events and their Impact on Communities

Hackney Publications, the nation’s leading publisher of sports law publications, and Cimarron Global Solutions, renowned for their research in sport and tourism, has announced the launch of a first-of-its-kind publication examining the impact of sporting events on cities, states, regions, and countries. The publication, titled Creating Community Through Sport, will be published six times a…
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DraftKings Submits Superior Proposal to Acquire PointsBet’s U.S. Business

DraftKings Inc. (Nasdaq: DKNG) (“DraftKings”) has announced that it has delivered a letter to both the Non-Executive Chairman and Chief Executive Officer of PointsBet Holdings Ltd. (“PointsBet”) “setting forth an indicative offer to acquire” PointsBet’s U.S. business in an all-cash transaction with a purchase price of $195 million (the “Proposed Transaction”). DraftKings’ proposal represents a…
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