Buchalter Nemer represented Broadway Federal Bank in connection with a loan workout that resulted in the sale of the Los Angeles Sparks of the WNBA to an investment group led by Earvin “Magic” Johnson. Broadway Federal Bank had provided financing to the seller. The sale to Magic means that the team will stay in the City of Los Angeles, after coming very close to being acquired by the Golden State Warriors, a sale that would have moved the team to San Jose.
The Buchalter team, led by Robert Willner, included attorneys William Brody and Bo Bollinger, Commercial Finance Analyst, Sigi Hinojosa, and Legal Assistant, Steve Chu.
