Mark represents private and public companies and private equity and venture capital investors in mergers and acquisitions, debt and equity financings, securities offerings, joint ventures, strategic relationships, and general corporate matters. His practice spans a variety of industries, including sports and entertainment, media, telecommunications, technology, travel, hospitality, manufacturing, healthcare, and business advisory and financial services. Mark has recently advised MLS team, Inter Miami on the recapitalisation buyout of majority owners which you can read about here.
Interview timeline:
1:42 - The US sports investment landscape, finance structures and why limited liability partnerships are used to invest in sport.
5:41 - How are funds being developed to invest in sports based assets? (listeners may be more familiar with longer term / evergreen funds)
10:00 - The unique features of investing in professional teams
12:21 - Why funds take a minority investment without any influence in US major league teams
13:49 - The rules on controlling interests in major league teams
18:14 - How investment strategies are adapted for teams in open and closed leagues
20:23 - What are some of the challenges and benefits that come along with private equity investment?
25:14 - How can leagues balance competing with the desire of private investment to see a return on their investment and the long term success of the league?
30:03 - Is it fun being a private equity lawyer working in sport?
32:05 - What are the hot properties from an investment fund perspective and what are they looking for in their deals?
38:11 - Which sports are furthest ahead?
40:00 - Do you see the funds looking at multi-sport ownership particularly internationally, being the model going forward?
Podcast speakers: Mark Kurtenbach; Sean Cottrell, LawInSport, CEO; Chris Bond, LawInSport, Editorial Director.
