Raij Quoted in Law360

16 September 2013 Law360 News
Partner Irwin Raij was quoted in a September 16, 2013 Law360 article titled, “Fla. Puts New Spin On Public Stadium Financing.” The article discusses a new idea in public stadium financing coming from Orlando, Fla., where a county official is proposing that Orange County, Fla. be a full partner in bringing a proposed Major League Soccer team to town, contributing about $20 million toward the franchise fee and stadium — about a 13 percent stake, using total expected costs — and sharing in revenues. If the team is later sold or recapitalized, the county would get a split of the proceeds. Raij was quoted saying, “Equity owners get capital calls when there are problems. Everyone talks about what big business sports is and how everyone is just rolling in money, but there are huge risks.” Raij also noted that “There are better ways to protect the community interest without taking on equity risk. The end goal is, I think, a good one. You just have to think about how to get there, and that's a local question that requires creativity.”

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