Sports & Leisure Facilities
Squire Sanders is one of the preeminent law firms in the United States providing bond and project counsel services for stadium and sports facility projects. We have participated in some of the most notable sports facility projects. The firm’s expertise in the complex area of sports facility financing has resulted in the firm being called upon to provide project counsel services for many projects, post-issuance tax compliance advice and bond counsel services.
For a stadium finance project to be successful, it is crucial to maintain sensitivity to the project sponsor’s goals, along with a complete understanding of the nuances found in the areas of tax law, local government law and financial incentives, development, construction and financing. At Squire Sanders we bring that sensitivity to each transaction, based on our substantial and diverse experience around the world.
We have substantial experience in various nonrecourse financing techniques using multiple and varied revenue sources such as special taxes, tax rebates, non-tax municipal revenues, tax increment financing and special project revenues; special purpose entities; certificates of participation or lease revenue instruments; and floating and fixed rate bond structures supported by derivative products.
Through our involvement in significant sports facility projects, we have amassed substantial experience in all components of negotiating with teams and financing elements commonly encountered in modern sports and entertainment facility projects.
Some of our areas of expertise include:
- Modern financing methods for stadiums: public-private partnerships (PPP) related to premium seating, ticket and parking surcharges, contributions from governmental entities and other stadium uses, enhanced sponsorship opportunities such as field-naming rights, and philanthropic opportunities
- Taxable/nontaxable bond issues
- Private activity bonds
- Field-naming rights
- Historic tax credits
- Tenant agreements and impacts related to new and existing bond issues
- Negotiating licensing agreements
- Operating and management agreements
- Protecting team traditions