A Warner Norcross + Judd LLP client was recently recognized by The Wall Street Journal as being part of one of the “Five U.S. deals that helped define 2019.”
Warner represented certain key employees in the private equity transaction that created OneTeam Partners, LLC, a company formed to help athletes maximize the value of their brand in the digital age. OneTeam was launched in November 2019 as a collaboration between the National Football League Players Association, the Major League Baseball Players Association and RedBird Capital Partners.
The article noted that RedBird’s financial commitment to OneTeam Partners “stood out for its innovation.” The article went on to say: “OneTeam focuses on helping players manage their portrayals and will aid players’ unions in expanding group licensing deals into areas like mobile gaming and digital trading cards. As usual, players will be paid for the use of their likenesses. However, OneTeam will use some of the money it received from RedBird and its partners to form a venture-capital fund that will invest in startups that want to license player rights.”
Subscribers can read the full article here.
For more information on the transaction, you can read the initial announcement here.
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