Filling the Seats for Stadium Financings

Katten Muchin Rosenman LLP

COVID-19 has materially impacted arena and stadium financings. How have professional sports leagues been able to form bubbles in spite of contractual obligations of teams to play home games at their home venues? Are there restrictions on further bubbles? Can leagues require bubbles for another season?

We have all followed the news during the pandemic to see how major professional sports would come together. Bubble or no bubble? Which cities would be the hub cities? 30 teams or 22 teams? What will a 60-game pennant race look like? And now that play has resumed in the NBA, the NHL, MLS and MLB, sports feel different. The lack of fans at games has been more than noticeable, and we are yearning for the time when the seats at arenas and stadiums are filled again.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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