US—March 10, 2022 – Major League Soccer has finalized a transaction for a $25 million loan from a syndicate of seven Black-owned banks. This is an important milestone for professional sports leagues in transacting a major deal with all Black-owned bank credit.

Our client, the National Black Bank Foundation, turned to a multi-practice team from Dentons to secure legal and public affairs counsel on this historic transaction. The Dentons team included Public Policy partner Ashley Bell, Public Policy senior managing director James Richardson, Corporate partner Jim Rossiter and Capital Markets partner Lee Smith.

The Black Bank Fund and its parent nonprofit, the National Black Bank Foundation, were co-founded by Dentons Partner Ashley Bell. Ashley serves as the organization’s general counsel and James Richardson serves as communications director.

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