The sports sector is experiencing a surge in mergers and acquisitions (M&A) activity, with deal values expected to exceed £1.4 trillion by 2025, according to a report by PwC. This trend has prompted law firms such as Paul Hastings to expand their services into the growing market. The firm's new global sports M&A practice will be led by Brandon Etheridge and Mark Zerdin, boasting combined expertise in advising clients on high-profile deals.
The launch is a strategic move by Paul Hastings, which reported revenues of approximately £1.6 billion ($2 billion) last year. With its main headquarters in New York and significant presence in the City, the firm aims to capitalise on the increasing demand for sophisticated legal counsel in the sector. Frank Lopez, Chair of Paul Hastings, notes that the sports industry has evolved from a niche area into a rapidly expanding asset class.
The firm's existing capabilities cover traditional leagues like the NFL, NBA, NHL, and FIFA, as well as global football clubs, UFC, and Formula 1. With recent deals such as TWG Motorsports' entry into the Cadillac Formula 1 team, the need for expert legal advice has never been greater. Paul Hastings will offer a comprehensive service to asset managers, sovereign investors, strategic operators, and prominent sporting organisations worldwide.
The new practice will also benefit from the expertise of Chidi Oteh, previously counsel for teams within Major League Baseball (MLB) and Major League Soccer (MLS). This expansion reinforces Paul Hastings' position as a leading player in the global sports M&A market. With its strong presence in both US and UK offices, the firm is well-placed to cater to the needs of clients navigating this complex sector.
This move follows similar entries by legal firms into the burgeoning sports M&A market, driven by a consistent demand for deals across football, Formula 1, basketball, and other major sports. As the sector continues to attract significant investment, Paul Hastings' new practice is poised to capitalise on this trend, offering sophisticated legal counsel to clients worldwide.