Sidley Advises Tracy McGrady’s Ones Basketball League on Relaunch and Next Gen Sports Investment

Sidley is representing the Ones Basketball League (OBL), founded by Basketball Hall of Famer Tracy McGrady, in connection with its relaunch and related strategic transactions. These include a minority investment by Next Gen Sports and the structuring of equity arrangements with a high-profile group of celebrity team owners, including Basketball Hall of Famers Vince Carter and Tim Hardaway Sr., NBA All-Star John Wall, rapper Jadakiss, actor Larenz Tate, and two-time NBA champion Quinn Cook.

The relaunch of OBL includes a new competition format featuring city-based teams competing in a “Battle of the Cities” tournament structure. As part of the relaunch, OBL has assembled a prominent ownership group of athletes and entertainers with ties to these new city-based franchises, each receiving equity interests in their respective teams, positioning the league for growth as an emerging platform in the evolving sports and media landscape.

Sidley advised on multiple aspects of the transactions, including representing Next Gen Sports in its investment in OBL and separately representing OBL in that investment, as well as advising OBL in its ongoing negotiations with celebrity team owners and broader league relaunch matters.

The Sidley team advising OBL in its relaunch and celebrity ownership transactions is led by Charles H. Baker, Dylan M. Sherwyn, and Axel Miranda. The Sidley team representing Next Gen Sports in its investment in OBL includes David D’Urso, Dylan M. Sherwyn, and Alyssa Levy. A separate Sidley team representing OBL in connection with Next Gen Sports’ investment includes Charles H. Baker and Axel Miranda.