The business of sports is experiencing unprecedented growth, with major deals like the sale of an NFL team for a staggering $6 billion making headlines. This surge in activity has not gone unnoticed by leading law firms, which have begun to see significant opportunities in the sports sector. As reported by Bloomberg Law, Big Law firms are increasingly focusing on this area to capitalize on the lucrative megadeals that fuel firm revenue. (source)
Once the domain of a select group of specialists, sports law is now attracting attention from a broader array of firms. In a recent episode of On The Merits, Bloomberg Law’s Roy Strom engaged in a discussion with Irwin Raij and Eric Geffner from Sidley Austin, two seasoned practitioners in the field of sports dealmaking. The duo has been at the helm of transactions involving high-profile sports entities such as the NBA’s Charlotte Hornets, the NFL’s Washington Commanders, and the Carolina Panthers. They described the practice of sports law as “very sexy” due to its current high profile and profitability. (Apple Podcasts, Spotify, Megaphone, Audible)
- They highlighted the burgeoning interest and investment in women’s sports.
- There are emerging opportunities for private equity investments in the National Football League.
The discussion underscores a broader shift within the legal industry, as firms diversify their focus to include sports-related transactions. This evolution denotes a strategic move to secure a slice of the rapidly expanding sports market, which increasingly intersects with entertainment and media sectors under the umbrella of high-stakes financial deals.