Firm has been selected to work on facilities for Tampa Bay Buccaneers, Tampa Bay Lightning, New York Yankees, Atlanta Braves and Toronto Blue Jays
Tampa, Fla., (June 15, 2017) – Bryant Miller Olive is developing a significant niche as Bond and Public Finance Counsel for deals that fund professional sports facilities. As three examples, the law firm has helped facilitate financing for the Tampa Bay Buccaneers’ football stadium, the Tampa Bay Lightning’s hockey arena and the New York Yankees’ spring training facility in Tampa.
Reflecting this trend, BMO was recently selected to provide public finance counsel for two more baseball spring training facilities in west-central Florida:
• Bond and disclosure counsel for a new $75.4 million spring training facility planned by the Atlanta Braves in Sarasota County.
• Bond and special counsel for an $81 million renovation to the spring training home of the Toronto Blue Jays in Dunedin.
Led by Duane Draper, Co-Chair of the Public Finance Group, BMO has also been involved in deals for Florida spring training facilities for the Minnesota Twins (Lee County), Boston Red Sox (Lee County), Houston Astros (Osceola County), Philadelphia Phillies (Clearwater), Los Angeles Dodgers (Indian River County) and Pittsburgh Pirates (Bradenton).
The firm also was involved with the financing for the home of pro basketball’s Orlando Magic.
BMO’s success in stadium financing work is tied to the firm’s skill in handling complicated financing deals that involve multiple funding partners. These deals typically include contributions from the sports team as well as from several public entities, such as state, county or city governments. Balancing everyone’s needs can be challenging and requires an inclusive, highly responsive approach.
At the same time, the firm works to help ensure that the deals meet federal tax requirements, and that the related bond issue works for everyone involved.
“It has been gratifying to see professional sports facility finance transactions benefit local communities by generating economic activity and tourism,” said BMO’s Draper. “These are complicated transactions involving state law, federal securities law, federal tax law and public policy. Leveraging our deep and broad public finance experience has been critical to our success.”
About Bryant Miller Olive: With a distinguished 45-year history of serving its clients’ needs, Bryant Miller Olive represents governments, businesses and agencies in legal matters relating to public finance, state and local government law, complex transactions, project finance, and litigation. The firm has served as Bond Counsel on more deals than any other firm in the Southeast over the past five years, and more than any other firm in Florida over the past decade. Members of the firm are often called upon to handle some of the most complex legal issues in the boardroom and in the courtroom. The firm has offices in Tampa, Tallahassee, Orlando, Miami, Jacksonville, Atlanta and Washington, D.C. For more information, visit http://www.bmolaw.com.