Thought-Leadership Spotlight: EY on Integrity Diligence and Sports Team Acquisitions
By Ronald J. Coleman
EY put out a piece in March 2021 entitled “How sports team acquisitions are flawed without integrity diligence”. The piece states, among other things:
“Some teams and clubs have international operations, such as those who scout, sign and develop players overseas. This heightens the risk that teams or their agents may have made improper payments to foreign government officials to influence decisions. Under a concept called successor liability, new owners may be legally responsible for pre-acquisition behavior under the United States Foreign Corrupt Practices Act.”
Read the full piece here.