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December 23rd, 2022
Key Sports Law Cases & Developments 2022
Sports Group Partner Christopher R. Chase speaks with LawInSport on the most important legal cases and developments from the world of sports law in 2022. Christopher contributes his thoughts on the implosion of the cryptocurrency exchange FTX:
“The implosion of cryptocurrency exchange FTX and its subsequent bankruptcy filing will likely change the structure and contractual obligations of both athlete endorsements and corporate sponsorships going forward. For example, several class action lawsuits have been filed against athletes and celebrities for their role in promoting FTX (as well as other crypto and NFT brands), arguing that such promotion was an unfair and deceptive practice under federal and state law – placing a spotlight on endorser liability. To avoid potential claims, athlete and celebrity endorsers should ensure that proper substantiation exists for any advertising claims that the endorser makes on behalf of a brand and that the endorser has a good faith belief in such advertising claims. While an indemnity from the advertiser for claims about its product is generally standard and protects an endorser from liability to some extent, it may not be worth much when the brand has little ability to back it up – so the athlete or celebrity endorser would be wise to consider the actual evidence for the advertising claims before agreeing to endorse the product or service.
Regarding sponsorships, the FTX situation is yet another cautionary tale for rights holders – particularly when entering into agreements with entities in nascent industries. Seeking more payments up-front (and in dollars!), limiting the length of the contractual term, expanding the ability to terminate, and seeking regular audits or reviews of financial statements from sponsors (particularly ones that do not have publicly available financial statements) are all considerations rights holders may want to take going forward. Now that FTX has filed for bankruptcy, rights holders have to file motions to have the court reject the sponsorship agreement or otherwise lift the automatic stay so that the rightsholder can terminate the agreement – both procedural and substantive situations in which rights holders do not want to be.”
See the full article here. (Behind paywall).
Other Quoted
Pay Attention to the Delete Act (Even If You Don’t Think You’re A Data Broker)
AdExchanger quotes Daniel M. Goldberg in an article on California’s Delete Act, noting data brokers are required to register by January 31. He explains the definition of data broker extends to any company that collects and sells personal data about consumers, which includes companies using third-party data for targeted advertising. Mr Goldberg also anticipates more enforcement in 2025. View Article
January 21 2025
Understanding Interactive Entertainment
Games Industry Law Summit quotes S. Gregory Boyd and Sean F. Kane on two decades shaping video game law. The discussion covers key insights on industry evolution and emerging legal challenges. View Article
December 30 2024
Advertising Opt Outs Drive New Privacy Strategies in 2025
Cybersecurity Law Report quotes Daniel M. Goldberg in an article on how the advertising industry is facing greater scrutiny from state attorneys general as more people opt out of targeted ads. Speaking on a California Lawyers Association (CLA) panel, Mr. Goldberg noted how adtech is now a key focus for regulators. Due to the extensive marketing of many companies, privacy program leaders across industries must assess the impact of adtech on their companies and mititgate risks. View article (available through trial or paid subscription).
December 18 2024
