Filip & Company assisted Țiriac Group, in the sale of the rights in and operations of Mutua Madrid Open tennis tournament and Acciona Open de España golf tournament to IMG UK, which is part of Endeavor group, a global leader in the events, entertainment, sport, media and fashion industries. The transaction was signed on 6 December 2021 and was completed on 1 April 2022.
“Throughout one decade of legal assistance provided for the sports business of Tiriac Group I have learned that for each ball played on court there are myriads of mechanisms and relations that need to be continuously maintained running or in balance, or renewed and improved, or documented and amended. The Mutua Madrid Open Tournament is a magnificent creation, the pinnacle of daring ideas and of an arduous, passionate, long-term effort, a truly elite event among the professional masculine and feminine tennis circuits of the highest international level. To prepare, conduct and complete the transfer process meant to engage in protocols, preparations, proceedings, strategies, documentation, and negotiations that were utterly challenging by their intensity, complexity, diverse issues, as well as by the multitude of parties, entities, stakeholders, and jurisdictions involved. We are honoured and happy to have successfully accomplished this mandate and I want to thank our clients’ team for the trust they placed in us, as well as our team and our colleagues from Linklaters, Prolaw and Kiprianou for their most valuable contributions to the completion of this project”, said Cristina Filip, managing partner at Filip & Company.
The Filip & Company team was coordinated by Cristina Filip (partner) and included Eliza Baias (partner), Cătălin Suliman (partner), Irina Suătean (senior associate), Rareș Crîșmaru (associate), Daria Olteanu (associate), Monica Popa (associate) and Bogdan Fărcane (associate).
Linklaters LLP provided legal assistance on English law matters, Linklaters S.L.P (Spain) assisted with the notification of economic concentrations before the Spanish competition authorities, Prolaw Abogados (Spain) provided legal assistance on Spanish company and commercial law matters, and Michael Kiprianou & Co LLC assisted on Cyprus company and commercial law matters.
Latham & Watkins LLP assisted IMG UK and Endeavor group in the relevant jurisdictions.