Overview
The transaction:
International law firm McDermott Will & Emery represented Theresia Gouw, co-founder and managing partner of venture capital firm Acrew Capital, in her equity investment in the Buffalo Bills of the National Football League (NFL). This transaction was confirmed by the Buffalo Bills on December 11, 2024.
Why it matters:
The transaction marks the first time that the Pegula family, which controls the Buffalo Bills, has taken on additional investors. Ms. Gouw is one of 10 new limited partners added to the Bills ownership group in a funding round led by Arctos Partners in one of the first-ever investments by private equity in the NFL under rules adopted in August 2024. Other investors include luminaries from the sports and entertainment industries.
Commenting on the transaction, Ms. Gouw said: “Like many other Bills fans, the team means so much to me and my family. When we moved to Western New York, joining Bills Mafia really gave us an instant sense of belonging. Our family has been fortunate to be part of this community over many decades and multiple generations, and we are thrilled to deepen our relationship.”
The McDermott cross-practice team was led by Julie Kwon with substantial assistance from Tom Conaghan, Greg Berson, Daniel Hatten, Eric Cunningham, Thomas McGee, Brittany Esser, Kristine Suh, and Hudson Todd.
Julie Kwon is the relationship partner for Theresia Gouw.
Read the Bills’ press release here.
About McDermott’s Family Office Capital & Investment Strategies (FOCIS) Group
FOCIS is a multi-practice team that draws on the experience of our Private Client, Tax, and Transactional lawyers to provide creative and holistic solutions across all levels of a family wealth structure with respect to direct investing across all industries, including sports and entertainment. We take a comprehensive and multi-level approach to achieve enhanced economic returns through optimal planning for families, returns that might otherwise be lost when working with external advisors with a narrower lens.
About McDermott’s Sports Law Group
For more than 30 years, McDermott has represented owners, investors, players, teams, and sports venues around the world in various leagues – including the Association of Tennis Professionals (ATP), Major League Baseball, Major League Soccer (MLS), National Basketball Association (NBA), National Hockey League, National Football League (NFL), and PGA TOUR – handling their most critical transactional and non-transactional matters. With legal experience ranging from individual investments in teams and the purchase and sale of franchises to solving critical tax, real estate, intellectual property, and labor law problems, our sports lawyers leverage top-tier M&A, tax, and private client talent to provide a problem-solving and client-focused approach to complicated sports law matters in the rapidly evolving sports world.
About McDermott
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers, and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
