Clarke Willmott advises on multi-million deal between boxing heavyweights
We acted as UK advisors on a major deal between US-based sports and entertainment agency Wasserman and renowned German boxing promoters Team Sauerland.
Having acquired the business and assets of Team Sauerland, Wasserman will create a new brand, Wasserman Boxing, to compete with some of the big promotion brands in the UK and US.
Our multi-disciplinary team acted for Wasserman on the multi-million pound deal. Corporate and commercial solicitors Rob Ridd and Barney Sykes advised on the UK corporate side of the transaction and managed the complex multi-jurisdictional process.
Tim Copplestone, an employment solicitor with expertise in the sporting sector advised Wasserman on the UK employment side of the transaction including new arrangements for Team Sauerland individuals. Thomas Kuhnle and Michael Ströbel of Luther Rechtsanwaltsgesellschaft advised on the German law aspects of the transaction.
Rob Ridd said: “This was not only a high-profile deal it was also complex in nature with complicated cross-border elements, working with the US and Germany.
Our team sourced appropriate local advice at the outset and completed an in-depth due diligence process. We also drafted and negotiated all the documentation and closely managed the execution process involving the remote electronic signature of a large number of completion documents.
Wasserman is an important and long-standing client of ours and we are pleased to have assisted them in this major deal to create one of the world’s leading boxing propositions, adding a further arm to Wasserman’s global sports marketing portfolio.”
Wasserman Boxing, headed up by Fahri Ecvet, Dean Baker and Kalle and Nisse Sauerland, will represent athletes and promote bouts featuring top fighters, overseeing all boxing-focused activities for the LA-headquartered company.