Matthew Eisler, partner and global head of sports at Hogan Lovells, and Russell Hedman, a 12-year veteran of the sports practice at Hogan Lovells, have joined Latham & Watkins' sports practice. The duo will practice out of Latham’s M&A and private equity as well as its entertainment, sports and media practice in New York, Latham said Tuesday.
“Matt and Russell are at the very top of the game in the broader sports industry,” Marc Jaffe, Latham's New York office head, said in an interview. “This asset class is very desirable for our clients. Private equity, hybrids, family office, this isn’t just sexy to invest in, but an incredible area to invest in.”
Jaffe said that while, traditionally, sports transactions had been about full ownership of an entity, that is no longer the case, and there are many ancillary revenue streams from investing in sports teams and leagues.
“Our work in areas like sports gaming, apparel, licensing, leagues and conferences is all coming together. We believe our attorneys in the space, coupled with our expertise in M&A, PE, capital markets, tax and others, let us have an all-star team for the sector," he said Tuesday.
Eisler and Hedman each focus on M&A and investment transactions in the sports and private capital sectors, including the purchase and sale of sports teams and stakes as well as the creation of consortiums and joint ventures across leagues and sports, Latham said.
It's a busy time for that work. Recent changes in professional sports ownership, such as the acceptance of private equity money, as well as the expansion of women’s leagues and massive changes in the college sports arena, have produced a transactional environment in sports that is large enough to attract the attention of major law firms.
Several other firms have added sports transactional partners in recent months, leading to musical chairs in Big Law sports practice.
Frank Saviano, who was global head of Latham's sports and media practice, moved to Kirkland & Ellis in New York last fall. Kirkland also recruited partner Jason Krochak from Proskauer Rose. Meanwhile, Jon Oram left Proskauer to chair the sports practice at Davis Polk & Wardwell last fall.
Adam Sullins, global cochair of Latham’s entertainment, sports and media practice, said the firm's sports practice has "significant opportunities" to expand further. “Matt and Russell are key to our strategic growth plans in New York, across the US, and globally. They share our ambition to be the leading firm in sports, and their addition to our platform will help us unlock tremendous opportunities," he said in a statement.
Eisler, who became head of Hogan’s sports group in 2018, had been with Hogan since 2010 after a short stint at Weil, Gotshal & Manges.
Hedman had been at Hogan since 2013 after previously working as an associate at Latham.
James Doyle, global head of the corporate and finance practice group at Hogan, issued a statement regarding the departures.
“We thank Matthew and Russell for their contributions to the firm and wish them all the best in the next chapter of their careers. We have over 20 partners in our sports team globally who continue to provide clients with world-class support on cutting-edge sports transactions. As a firm, we bring value to our clients through the breadth of our industry sector approach, the strength of our different practice areas, and the depth of presence we have in our clients' most important markets."
Jan 6
Deal Summary
