News & Events

The Firm is representing Nets Sports and Entertainment and Forest City Ratner Companies in their creation of a strategic partnership with Onexim Group, a leading Russian private investment fund that was founded in 2007 by Mikhail Prokhorov. The strategic partnership is designed, among other things, to facilitate the successful completion of the Barclays Center, a world-class entertainment venue in Brooklyn, and the relocation of the NBA Nets basketball team to Brooklyn.

Under the terms of the letter of intent entered into by the parties, Onexim will invest $200 million and fulfill other conditional funding commitments to acquire 80% of the New Jersey Nets team and 45% of the arena project, along with the right to purchase up to 20% of the Atlantic Yards development project, a residential and commercial real estate project in Brooklyn.

The Simpson Thacher team includes: Eric Swedenburg, Rhett Van Syoc and Daniel Layfield (M&A); Patrick Ryan (Banking & Credit); Gary Mandel, Noah Beck and Aaron Cohen (Tax).