CHICAGO – Katten Muchin Rosenman LLP is pleased to have represented GSW Sports LLC, a buyer group led by Kleiner Perkins Caufield & Byers managing partner Joe Lacob and Mandalay Entertainment founder Peter Guber, in completing the acquisition of the National Basketball Association’s Golden State Warriors. The deal, first announced in July, has been approved by the NBA and transfers control of the franchise to Mr. Lacob and Mr. Guber from Christopher Cohan, who had owned the team since 1995.
“We are honored and humbled to be entrusted with the future of the Bay Area’s basketball franchise and intend to build a franchise that will make Warriors fans and citizens of the Bay Area proud,” said Mr. Lacob.
Mr. Guber added, “Joe and I are incredibly excited by this opportunity and believe that our fans and the entire NBA will soon see that the Warriors have a great future ahead of them.”
Adam R. Klein, chair of Katten’s Sports Law and Sports Facilities Practice, led a team of Katten lawyers, which included partners James J. Calder, Michael A. Jacobson and Walter S. Weinberg, and associates Harris R. Eisenberg and David J. Kelly, that advised GSW Sports on the purchase, which included negotiation and documentation of the purchase agreement, equity financing with the investor group, bank debt financing and the NBA’s approval of the transaction.
Katten’s Sports Law and Sports Facilities Practice provides legal services to a wide array of participants in the sports industry, including professional and minor league franchises, prospective owners, government entities, arena/stadium developers and operators, financial institutions, universities and corporate sponsors. The firm counsels clients regarding all aspects of the business of sports, including player and management issues, compliance with league rules and developments in league policies, television and radio broadcast agreements, sponsorship agreements, including naming rights deals, intellectual property and Internet issues, and all aspects of arena/stadium construction, financing and operations, including ticketing arrangements, concession deals, event agreements and suite licenses. Katten has used this experience to represent several clients in their pursuit of purchasing or selling MLB, NBA, NHL, MLS, ECHL, USHL and AFL franchises. In addition, Katten has represented players and franchises in litigation and related investigative matters, including civil and criminal matters, internal investigations into patterns and practices, and player/agent arbitrations. Clients include the Chicago White Sox, Chicago Bulls, Oakland A’s, Golden State Warriors, Chicago Fire, Philadelphia Union and San Jose Earthquakes.