Sept. 19, 2012 – What is the lawyer’s role when a client wants to purchase a unique asset, such as one of only 120 professional sports teams in the country? Sports law sounds exciting, but what does it take to succeed?
In this video, Foley & Lardner attorneys Mary K. Braza and Kevin Schulz talk about their involvement in the sports law industry, the roles of lawyers in big sports transactions, how their firm built a nationwide sports practice, and their favorite teams.
Schulz and Braza recently helped a buyer slide into home plate with the purchase of the Los Angeles Dodgers for a record $2.15 billion. Both agree that owners are competitive and have a drive and a vision that their ownership will make a better team not just on the field but from the fans’ perspective. Owners see themselves as stewarts of a community asset and want to be a positive influence on the community.
Braza sees sports law as an opportunity to be involved in creative transactions that require working work hand in hand with a client.
As a sports fan, Schulz finds it exciting to be part of the history of a club. Plus the community is interested in these transactions.
Breaking into sports law? Schulz recommends lawyers should gain experience in trial, transaction, and patent law, and when you have those skills, turn them to a particular industry.