New York, February 15, 2007 – LAWFUEL – Sports Law & Business – Boston Red Sox investors purchased a 50% stake in Roush Racing in a deal that had “lawyers engaged around the clock, basically, trying to work through all the details,” according to Geoff Smith, president of the top NASCAR race team, who was quoted by espn.com.
Shearman & Sterling represented New England Sports Enterprises, which does business under the name Fenway Sports Group and is a subsidiary of New England Sports Ventures, which also owns the 2004 World Series winners. The joint venture will be operated through a limited liability company. “It’s a really complex transaction with more separate contracts than anything I’ve ever seen,” Smith said.
Principal attorneys included partner Creighton Condon (New York-M&A) and associates Stephen Sawyer (New York-M&A), James Elworth (New York-M&A), Carol Liao (New York-M&A), Clarence Nesbitt (New York-M&A) and Joseph Tong (New York-M&A).
Other attorneys included partners John Cannon (New York-Executive Compensation & Employee Benefits), Michael Shulman (Washington D.C.-Tax) and Gregory Tan (NY-Finance), counsel Dan Glazer (New York-Intellectual Property), Susan Reiss (New York-Intellectual Property) and Jeffrey Salinger (NY-Environmental), associates Jordan Altman (New York-Intellectual Property), Ethan Harris (Washington D.C.-Tax), Karen Heymann (New York-Property), Danielle Kalish (New York-Finance), Kelly Karapetyan (New York-Antitrust), Romica Singh (New York-Executive Compensation & Employee Benefits), Patrick Valenti (Washington D.C.-Tax) and Matthew Tsiaras (Washington D.C.-Tax) and legal assistant Catherine Guydan (New York-M&A).