Hogan Lovells is advising Joe Tsai in the purchase of a Las Vegas-based National Lacrosse League (NLL) team. Tsai is executive vice chairman and co-founder of Alibaba Group, a global internet company with businesses in e-commerce, cloud computing, and digital entertainment. He is also the owner of the NBA’s Brooklyn Nets and the NLL’s San Diego Seals.
The club will be the 15th franchise when it debuts in the 2022-2023 season.
The Hogan Lovells team advising on the deal was led by New York and Denver-based partners Matthew Eisler, Michael Kuh and Mark Weinstein. Senior Associate Chris Weigand and associate Melissa Moravec also advised on the deal. Hogan Lovells also advised Tsai on the purchase of the Brooklyn Nets.
“We expect an uptick in acquisitions in the entertainment and sports industry as the market recovers post-COVID,” said Eisler. “U.S. sports teams and venues can be extremely lucrative investments.”
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