WASHINGTON, DC — Arent Fox LLP represented the family of the late legendary Washington, DC, sports owner and philanthropist Abe Pollin (Irene Pollin and sons Robert and James) in finalizing the sale of the Washington Wizards to Lincoln Holdings LLC. The NBA Board of Governors unanimously approved the sale on June 8.

The sale of Washington Sports & Entertainment Limited Partnership, the holding company which owns the Washington Wizards, the Verizon Center and the Washington-Baltimore Ticketmaster franchise, is one of the biggest (if not the biggest) sales of a franchise, arena and related assets in the history of the NBA.

Arent Fox had previously represented the Pollin family in connection with the sale of the Washington Capitals and a minority percentage of Washington Sports & Entertainment Limited Partnership in 1999. Pursuant to that sale, Lincoln Holdings LLC had acquired certain purchase option rights in the event of the death of Abe Pollin. When Mr. Pollin died in November 2009, these rights were triggered and the parties spent the last six months in highly complex negotiations which culminated in the sale on June 9, 2010.

Arent Fox partners Rich Brand and David Osnos led the Arent Fox team throughout the process. Partners Thomas Castiello and Steven A. Cohen played major roles in all aspects of the transaction, with partner John McCoy supplying key tax advice and attorney Rania Hago providing crucial support in getting the parties to closing. Senior paralegal Kathy Thompson helped maintain and organize the significant flow of due diligence items between the parties.

The Legacy of Abe Pollin

Arent Fox has represented Abe and Irene Pollin and their family and various sports and real estate interests for more than 50 years. Several weeks prior to the closing, as a show of appreciation for all those who played a key role in developing and expanding the Pollin legacy, the Pollin family hosted a “thank you celebration concert” for all employees, friends and family as well as for a number of civic and public service organizations, such as the District of Columbia fire and police departments, public school teachers and hospital workers from George Washington Hospital and Sibley Hospital, where Abe Pollin was treated before his passing last November. All guests were treated to a spectacular dinner and concert at the Verizon Center featuring Stevie Wonder.

The celebration served as a reminder to all involved of the generosity of the Pollin family to friends, family and the Washington, DC area.

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About Arent Fox:

Arent Fox LLP, with offices in Washington, DC, New York and Los Angeles is a recognized leader in areas including sports, real estate, telecommunications, intellectual property, life sciences, health care, automotive, white collar, and complex litigation. With more than 350 lawyers nationwide, the firm represents Fortune 500 companies, government agencies, trade associations, foreign governments, and other entities. 

About the Arent Fox Sports Practice:

Arent Fox’s sports practice is one of the most experienced in the United States. Our attorneys have served as counsel to various professional teams, including the Washington Wizards, the Charlotte Bobcats, the Detroit Pistons, the Oklahoma City Thunder, the New Jersey Nets, the Tampa Bay Rays, the Washington Capitals, and the DC United. Arent Fox also has advised numerous purchasers and sellers of professional teams and events. In addition, we have advised entities on both sides of major naming rights and sponsorship transactions, such as the Barclays Center, Time Warner Cable Arena, AT&T Park, and PPL Park.

For more information about Arent Fox’s Sports Practice, please visit us online.