Weil Gotshal & Manges recently welcomed Steve Argeris as a partner from Hogan Lovells. This move reflects the law firm’s growing interest in the active sports industry, especially for its private equity clients.
Argeris has a solid track record in sports law, participating in significant deals for the NFL teams Washington Commanders and Denver Broncos. He has also provided guidance on transactions involving Major League Soccer, the National Women’s Soccer League, Major League Cricket, and Major League Pickleball. His diverse experience includes investments in various sports-related businesses.
Weil is responding to a surge in sports investments that includes high-profile franchises and emerging leagues. Kyle Krpata, co-head of Weil’s U.S. Private Equity practice, emphasized the firm’s desire to support clients in all key industry areas, and sports is now a priority. Hiring Argeris enhances their expertise and positions Weil as a more attractive partner for clients.
As sports investments skyrocket, reports indicate that $34 billion was spent on sports and tech deals in the first half of 2024, tripling the previous period. This interest is fueled by specialized investment firms pouring capital into sports. Major law firms known for handling large transactions, like Latham & Watkins and Davis Polk, have also taken notice. Traditionally, only a few firms had a robust sports transactions practice, but now Weil aims to join the ranks.
Weil has its own history in sports law. Partner Andrew Tulumello has represented leagues and athletes, including NFL star Tom Brady in the “Deflategate” case. The firm also represented MLB player Shohei Ohtani in a class action involving a failed cryptocurrency exchange.
Argeris, who interned with a Weil partner during law school, is excited about the potential to merge his experience with the firm’s resources. He mentioned that private equity managers are increasingly interested in sports, making it a timely opportunity.
Meanwhile, Hogan Lovells continues to be active in sports transactions. Recently, they advised Texas-based Presidio Investors on acquiring Hellas Verona, a team in Italy’s Serie A league.
Starting his career as a sportswriter, Argeris worked at Willkie Farr & Gallagher and Hunton & Williams before joining Tepper Sports & Entertainment as general counsel. At Hogan Lovells, he was involved in major deals, advising clients in acquiring stakes in notable franchises, including the MLB’s Philadelphia Phillies and the NFL’s Miami Dolphins. With the NFL now allowing certain private equity groups to invest in teams, the market is primed for more deals, making it an exciting time for Argeris and Weil.
With his expertise, Argeris is poised to make a significant impact at Weil, and the firm looks forward to exploring new opportunities in the sports space.
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