IPL and Damac advised by Dentons

Dentons Sports Team advised Emirates Cricket Board (ECB) on the recently announced hosting of the Pepsi Indian Premier League (IPL) in the UAE.  The Dentons team assisted ECB with the negotiation of the hosting agreement with the Board of Control for Cricket in India (BCCI), the back-to-back hosting agreements with stadia in Abu Dhabi, Dubai and Sharjah and ticketing arrangements with Ticketmaster.  Joby Berettaleads the Middle East Sports team from Dentons Dubai office. In addition to the on the ground sports team in the UAE, the Dentons team included Alex Haffner, a senior associate from the London sports team.   With the combination of sports sector expertise and 50 years of experience in the Middle East, Dentons was uniquely placed to assist with bringing the IPL to the cricket loving nation of the UAE. 

The firm also advised DAMAC Real Estate Development Limited, a leading developer of high-end and luxury residential property in the Middle East, on its debut debt issuance of a USD650,000,000 five year Regulation 'S' senior unsecured Sukuk maturing in April 2019, issued at a profit rate of 4.97 per cent. The Sukuk was issued via a Cayman Islands special purpose vehicle, Alpha Star Holding Limited. The Dentons team was led by Alex Roussos with support from senior associate Beene Ndulo and lawyer Katie Phillips. Walkers advised Alpha Star on Cayman Islands law. Linklaters LLP advised the managers on English and UAE law matters.