Michael Wall on Sports Law Evolution – 'It's become a much more complicated industry'

Foley & Lardner LLP partner Michael Wall described the growing convergence of sports, business, and the law in the BC Law article, “The Game Changers.”

Sharing insights from his in-house career and tenure at Foley representing sports and entertainment clients, Wall said, “Across the board, it’s become a much more complicated industry that needs much more legal involvement. The additional stakeholders involved in an arena or operations within professional sports franchises have grown as well.”

“When I started with the Bruins, the organization had a one-page sponsorship agreement—it was double-sided,” Wall recalled. “You had the basic terms on the front side. On the reverse side were the fine-print terms and conditions, which were completely in the Bruins’ favor.”

“The naming rights deal for the new building that same year was a five- to seven-page term sheet subject to a definitive long-form agreement that was never written,” he continued. “We lived with that short-form agreement for nine years, and it was very difficult because it didn’t get into enough detail and was constantly a source of friction and contentiousness.”

“Today, the naming rights deals I negotiate on both sides of the table are 50 to 75 pages, and that’s not just because lawyers charge by the word,” he added. “It’s because the assets under these agreements have grown so complicated.”