Acquisition Counsel Expense Budget

Summary

Requesting up to $50,000 legal counsel budget for prospective ownership acquisition structuring.

Author: Lewwwk on behalf of Krause House Capital

Wallet: Krause House Capital Multi-Sig 0xCC17001246255Cb59847974af59fd4321f3ca55F

Context

As shared with the LOI Transparency Committee we are pursuing LOIs for minority ownership in two teams, both in top 5 leagues. As with prior LOI conversations, having experienced counsel ready to support transaction structuring is valuable to align seller requirements and pathways for community involved ownership.

As the initial retainer (subsequently amended here) has been exhausted, this budget will allow us to continue to engage Hogan Lovells and other counsel as may be required from time to time to support our acquisition efforts.

Use of Funds

These funds will be used exclusively to pay fees as accrued for legal counsel in respect to prospective transactions. Upon receipt of invoices, they will be shared with the LOI Transparency Committee, and corresponding payment requests will be issued to treasury.

Note: in cases where expenses paid result in a successful transaction, said expenses will be refunded to the treasury from transaction fees where possible.

The relationship with counsel will be managed by Krause House Capital.