Clifford Chance hires Sidley sports co-chair as private capital pours into sector

Clifford Chance has hired Sidley sports co-chair Charles “Chuck” Baker as a US private equity partner, adding a dealmaker whose work spans major American sports franchises, European football and women’s sports.

Baker will co-chair the firm’s global entertainment and sports team alongside European partners Luis Alonso and Christopher Yates. His arrival follows the October hire of former New York Jets general counsel Jill Kelley.

“The opportunity to bring some of my experience, relationships and background in the space to a truly global platform operating at the calibre of Clifford Chance was really an exciting opportunity," Baker told Non-Billable.

Neil Barlow, Clifford Chance’s lead transatlantic partner for private equity sports, described Baker as a "premier practitioner", adding: "To have someone of Chuck’s stature and talent connect with our vision of being globally integrated and a world-class leader in the space is testament to the progress we’ve made.”

Baker joined Sidley in 2022 from O’Melveny & Myers alongside Irwin Raij, with the pair joining as Sidley's sports co-chairs.

A dealmaker

Baker brings more than 30 years’ experience advising owners, investors and leagues on some of sport’s biggest deals. While at O’Melveny, he and Irwin Raij advised hedge fund billionaire David Tepper on his $2.2 billion acquisition of the Carolina Panthers in 2018, then a record price for a North American sports franchise.

He is currently advising on the sale of the LA Lakers basketball team at a record-breaking $12.5 billion valuation. His recent work also includes the acquisitions of the Washington Commanders and Charlotte Hornets, and the sale of Angel City FC.

The sums reflect a vast investment market, with Apollo Sports Capital CEO Al Tylis recently discussing sport as a $2.5 trillion opportunity.

Baker said the scale and complexity of deals were changing the investor base.

“Given the size and complexity of transactions, we’re seeing a lot of institutional investment in the space from private equity firms, sovereign wealth funds and other private capital sources, rather than just high-net-worth individuals and families.”

That shift plays to Clifford Chance’s ambitions to grow its already strong US private equity practice - this year, it became the first non-US firm to earn a place in Chambers' prestigious New York private equity buyouts rankings - with sport a key part of the strategy.

Barlow has already led the firm’s work on investments in Liverpool FC and Sunderland AFC Women.

“Part of our success in breaking into the US elite in private equity has been our focus on sectors, with sports and entertainment a huge part of that and a real focus for the firm,” Barlow said.

“We are building, and I’d argue we’ve built, a world-class sports and entertainment group. Chuck coming on board is another step in that journey towards making sure we can fully support our private capital and other clients wherever they go.”

Personal passion

Baker pointed to the firm’s international reach as a particular draw.

"What I’m particularly excited about is that our global co-chairs are based in London and Madrid, and Clifford Chance has so many incredible practitioners in Europe and the Middle East. The opportunity to build on our European and Middle East practices, and help clients from those regions invest in the US, is particularly appealing to me."

Baker becomes Clifford Chance’s 11th private capital partner hire globally this year and its 13th US partner addition. It has three offices in the US: New York, Washington DC and Houston.

For the self-confessed New York Knicks and Jets fan, the move also offers another chance to combine personal passion with professional ambition.

“I love this industry and cherish working in this space. I frankly love most of what I do day in and day out. Being able to wake up and go to ‘work’ in an industry that I find so exciting as a fan first has really been a blessing.”