Foley & Lardner LLP Of Counsel Andy Lee is quoted in the Law360 article, “NY Jets Seek Receiver For Fubo Gaming After $1.2M Default,” discussing the NFL team’s sponsorship dispute with Fubo Gaming Inc., a mobile sports betting venture, which has recently moved to dissolve. The Jets are asking the Delaware Chancery Court to appoint a receiver for the company, a subsidiary of FuboTV.
Lee, who is representing the New York Jets alongside Foley Partner Katherine Catanese, said in a letter to Fubo Gaming, “The Jets were shocked to learn late last week, from public reporting, of an additional default by the filing for dissolution of Fubo Gaming in Delaware and its ceasing of all operations, both at the direction of the board of directors of its parent company, FuboTV.”
Lee calls the actions “a blatant act of bad faith” and stated Fubo Gaming is already in default on the $12 million, five-year sponsorship agreement the company inked with the Jets.
Lee states the Jets have “fully performed under the agreement,” including giving “substantial marketing and advertising benefits, a suite and tickets to Jets home games, and incurring significant expense to build, staff, and operate the Fubo Sportsbook Lounge at MetLife Stadium, among other things.”