Retainer Budget for NBA Ownership Acquisition Counsel

Requesting $25,000 to retain Hogan Lovells as legal counsel for prospective NBA ownership acquisition transaction.

Author: Lewwwk#4227

Wallet: Krause House Capital Multi-Sig 0xCC17001246255Cb59847974af59fd4321f3ca55F

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Context

As Krause House engages with NBA owners regarding potential minority ownership acquisitions, having experienced legal counsel ready to support transaction structuring reduces obstacles to to quickly closing a deal. Hogan Lovells is a global law firm with deep experience in sport. In particular, they have served both owners and acquirers in the NBA and have close relationships with the league.

It’s worth noting that our prior legal expenditures have been focused on Krause House DAO’s structuring which is a different skill set & experience than executing a NBA deal.

Use of Funds

These funds will be used to pay the firm’s retainer upon signing an engagement letter with the firm. That retainer will then be applied strictly to work related to acquisition of an NBA ownership position.

The relationship will be managed by Lewwwk in collaboration with Jerrys who possess the permission to represent KH in negotiations (currently Flex Chapman & Commodore) in an effort to secure an NBA ownership position.