Stadiums, Arenas & Convention Centers

Overview

It takes creativity, persistence, and a broad array of financing alternatives to make stadium, arena, and convention center projects work.

As taxpayers are increasingly reluctant to subsidize the costs, we advise municipalities and state authorities, club owners, professional sports leagues, and investors on all aspects of financings for sports facilities.

Transactions we advise on use a broad range of financing structures, including straightforward government-owned, government-sponsored, and government-financed projects and public-private partnerships, private joint ventures, and 100% privately owned and project-financed facilities.

We specialize in negotiating and drafting financing documents, leases, and non-relocation agreements.

Our depth of knowledge and integrated approach provides clients with the forward-looking, value-added solutions they need to successfully close their deals.

Representative Experience

• Sony Tennis Center: Represented IMG in negotiating a financing structure for the Sony International Players Tennis Championships in Miami, Florida
• Erie County/Ralph Wilson Stadium: Represented Erie County, New York, in negotiations with the NFL franchise Buffalo Bills on the financing of proposed renovations to Ralph Wilson Stadium in Orchard Park and a related extension of the stadium lease
• Barclays Center: Represented the underwriters in connection with the financing of the new home of the NBA's Brooklyn Nets, located in downtown Brooklyn, New York
• City of Los Angeles: Served as city’s bond counsel in connection with the financing of convention center facilities—replacing facilities slated for demolition to accommodate a new NFL football stadium—and other aspects of the stadium project
• Lincoln Financial Field: Represented TD Bank, Bank of America, and PNC Bank in the substitution of the existing letters of credit for the Philadelphia Authority for Industrial Development, which partially funded Lincoln Financial Field, the home of the NFL’s Philadelphia Eagles
• Chicago Cubs: Represented the Ricketts family in connection with financing and acquisition of a controlling interest in Major League Baseball’s Chicago Cubs and Wrigley Field and a minority stake in the regional sports network, Comcast SportsNet
• Lambeau Field: Represented the Green Bay-Brown County Professional Football Stadium District as co-bond counsel in connection with the financing of the redevelopment of Lambeau Field, home of the NFL’s Green Bay Packers.
• Nassau County, New York: Represented the county in connection with 2011 negotiations with the New York Islanders NHL franchise for a proposed replacement of the Nassau Coliseum, including negotiating and drafting the proposed facility’s development lease to an affiliate of the Islanders
• National Football League: Assisted with the refinancing of the NFL’s G-3 Program, which provides funds to member clubs for new stadium construction and major reconstruction projects
• New York Giants and New York Jets for the MetLife Stadium: Worked on two separate joint venture non-recourse project financings for each team—Project Finance Magazine's “North American 2007 Leisure Deal of the Year”

Recognition

• Nixon Peabody was named by U.S. News/Best Lawyers® 2021 as “Law Firm of the Year” in Public Finance Law.
• Consistently ranked Top 10 in bond counsel, underwriter’s counsel, disclosure counsel, special tax counsel, and green bond counsel by Thomson Reuters.
• Nixon Peabody has been named a Tier 1 National firm by U.S. News – Best Lawyers® “Best Law Firms” in 2023 for Public Finance Law.
• Nixon Peabody was also named a First Tier metropolitan firm by U.S. News – Best Lawyers® “Best Law Firms” in 2023 for Public Finance Law in Rhode Island, Chicago, New York City, and Washington, DC, and for Municipal Law in Rochester.
• Ranked in Chambers USA for Public Finance.