Katten Muchin Rosenman LLP represented Sacramento Basketball Holdings LLC, a buyer group led by TIBCO Software CEO and Chairman Vivek Ranadive, in completing its acquisition of the National Basketball Association’s Sacramento Kings from the Maloof family.
Adam R. Klein, partner and chair of Katten’s Sports Law and Sports Facilities practice, led the team of Katten lawyers, which included partners Michael A. Jacobson, Allan Abshez and Benzion J. Westreich and associates Harris R. Eisenberg, Dustin P. Federko, Daniel A. Buoniconti, Sean T. Torres, David Y. Joe and Brett T. Fox, that advised Sacramento Basketball Holdings on the purchase, which included negotiation and documentation of the purchase agreement, equity financing with the investor group, extension of existing debt financing, preparations for a new arena and NBA approval of the transaction (which included the NBA approving the team staying in Sacramento and therefore rejecting the relocation of the team to Seattle proposed by another group trying to acquire the team).
Mr. Klein, a sports law industry veteran, has broad experience in these types of transactions. For example, in 2011 he represented the Detroit Pistons NBA franchise in its sale to Tom Gores and his private equity firm Platinum Equity. Additionally, in 2010 he advised a buyer group led by Joe Lacob, a managing partner of the private equity firm Kleiner Perkins Caulfield & Byers, and Peter Guber, chairman and CEO of Mandalay Entertainment, on its acquisition of the Golden State Warriors.
