BCLP Sports/Real Estate team advises on $3B Georgia arena and entertainment district

A Sports/Real Estate deal team from Bryan Cave Leighton Paisner (BCLP) is advising The Gathering at South Forsyth, an entity planning a mixed-use development with the goal of attracting a National Hockey League franchise to metro Atlanta. The client hit a major milestone on June 11, when the county approved the proposed $3 billion development and the definitive documents for the entire project.

BCLP’s client, The Gathering at South Forsyth, is a new entity owned by Vernon Krause, CEO of Krause Sports and Entertainment. The Forsyth County Commission’s approval allows the 100-acre development to move into its next phase in construction of a mixed-use retail, residential, office, hospitality and entertainment venue centered around an 18,000-seat arena. The arena would open in 2027.

BCLP advised the client on all matters of real estate and financing related to the development and operation of the arena and entertainment district. Although still in the early stages, this deal has been widely reported by regional and sports outlets, including the Sports Business Journal.

BCLP’s deal team is led by Chicago Partner Heidi Azulay and Miami Partner Natalie Prager (US leader of the firm’s Hotels & Hospitality Group) for Real Estate and Financing; Kansas City Partner Wesley Fields on Project Bond Financing; and St. Louis Partner Ryan Davis (co-leader of the Sports, Media & Entertainment Group) with respect to contractual, investment and corporate matters. St. Louis Partner Jonathan Potts heads this client relationship.

This deal bolsters the leading credentials of the firm’s Sports, Media & Entertainment Sector, one of three practices in the world recognized by Chambers as leaders in sports law in both the US and the UK. BCLP represent 31 NHL teams, over 20 Premier League, La Liga, Championship and other international football (soccer) clubs across seven countries, and various teams in Major League Baseball, the NBA, the NFL and Major League Soccer. The group has handled some of the largest naming rights and sponsorship deals in history, landmark broadcasting agreements, high-stakes litigation and various stadium, arena and mixed-use venue development matters for sports clients.

This deal also illustrates the strength of the firm’s world-class Real Estate Practice and its capabilities in handling large-scale, multibillion-dollar development deals across all asset classes and across all regions of the world.