Kirkland Advises Genius Sports on Acquisition of Legend
Kirkland & Ellis advised Genius Sports Limited (NYSE: GENI) on a definitive agreement to acquire Legend, a global, digital sports and gaming media network built to monetize attention, in a transaction valued at up to $1.2 billion. The proposed transaction includes $900 million payable at closing and an earnout of up to $300 million. The earnout is tied to the achievement of certain profitability and cash flow thresholds and is payable in cash or stock, at Genius’ election, subject to customary conditions. The acquisition was announced on February 5, 2026 and is expected to close in the second quarter of 2026, subject to customary closing conditions.
Read the transaction press release
The Kirkland team included corporate lawyer Edward Lee and Lilly Colby Rohan; capital markets lawyers Ross Leff, Asher Qazi and Basit Bangash; debt finance lawyers Adam Shapiro, Edward McCartney, Ericha Penzien and Qingrong Ruan; and antitrust & competition lawyers Andrea Murino and Adam Gomes-Abreu.
