Acquisition Counsel Retainer Amendment

Author: Lewwwk

Context

The Krause House community approved a $25,000 legal counsel retainer on March 27, 2023. Since that time conversations with ownership groups have expanded beyond the NBA, to groups that are excited to bring the Krause House playbook into their sport.

Details

This proposal requests to amend the original proposal as follows:

1. apply the retainer budget to acquisition opportunities in any league generating over $1B in annual revenues.
2. pledge that the retainer will be repaid to the community from proceeds of any resulting transaction subsequently approved by the community.

Rationale

While Krause House began with a focus on the NBA, it is apparent that our value proposition extends across sport. Securing an LOI with any team in an elite league will be a material contribution to our mission.