Milbank, Tweed, Hadley & McCloy LLP advised the Maloof family on their investment as founding partners in Black Knight Sports & Entertainment Holdco, the vehicle formed to acquire the Vegas Golden Knights National Hockey League (NHL) expansion franchise. Black Knight is majority-owned by its other founding partner, Mr. William P. Foley II, the Chairman of Fidelity National Financial and Black Knight Financial Services and the Vice Chairman of FIS.
In addition, Milbank advised the Maloof family, as investors in Black Knight, in connection with Black Knight’s acquisition of the Vegas Golden Knights expansion franchise from the NHL in a transaction that closed on March 1, 2017.
The Milbank team was led by Corporate partner Adam Moses. The team also included of counsel David Isenberg and associates Mark Castiglia and Jack Goodfriend. Tax advice was provided by partner Russell Kestenbaum.
“We are very pleased to have advised the Maloof family in their work alongside Bill Foley on this landmark project to bring the first major professional sports franchise to Las Vegas, the Maloofs’ hometown,” said Milbank’s Mr. Moses. “This investment is a testament to the Maloofs’ and Mr. Foley’s commitment to Las Vegas and their dedication to the growth of a great sport. We wish them good fortune in authoring the first chapter of the Golden Knights’ history.”
Mr. Moses also advised the Maloof family in their sale of the Sacramento Kings NBA franchise to a Sacramento-based investor group in a transaction valuing the Kings at $534 million, a then-record price for an NBA franchise. Also in the sports arena, together with Milbank Corporate partner Kenneth J. Baronsky, Mr. Moses advised Zuffa on its sale of Ultimate Fighting Championship in one of the largest transactions in the sports space to date.
