They’ve Got Next: The 40 Under 40 - Russell Hedman of Hogan Lovells

Please describe two of your most substantial, recent wins in practice.

We represented the Walton-Penner ownership in acquiring the Denver Broncos, reported at the time to be the highest value team sale in history ($4.65 billion). We navigated our client through a competitive process for one of the most sought-after sports assets in the world—in many ways, that deal set the standard for today’s NFL transactions.

I’m a Denver native which made it a special privilege to get tapped to lead this monumental transaction in my home city. Any auction for an NFL team is a high-stakes process because the asset is incredibly rare, and the bidders are invariably the most prominent investors in the world. It’s an honor to get the call for these deals and it speaks volumes for our reputation among family offices and sports investors: we get the deals done.

Earlier this year, we represented Fenway Sports Group and its consortium of investors in forming the Strategic Sports Group and crafting their multibillion-dollar investment in PGA TOUR Enterprises. The team at Fenway is legendary, some of the most sophisticated sports investors in the world—I spent my career dreaming of getting work with teams like this as they shape the future of sports.

What is the most important lesson you learned as a first-year attorney and how does it inform your practice today?

I was not a very good first-year associate—in fact, I felt like I had landed on an alien planet, and I really struggled to find my footing. I don’t think people around me saw my future as particularly promising. My reviews were not good – trust me, I kept the printouts!

But the lesson I learned that year was that the world’s opinion about your trajectory doesn’t mean much—sometimes only you know that you’re growing, and you have to keep progressing, even if others can’t see it.

When you start a race from much further back, it is naturally going to feel like you’re behind on the track. You have to keep running, keep learning, keep trying.

Today, I tell my associates that I am demanding with work and generous with credit. And when they feel like they’re really struggling, I like to hand them the reviews I received as a junior.

It’s fun to watch their eyes widen while they see how harsh my reviews were! But that’s the lesson for them: You might be struggling today but it’s just a moment in time. Keep growing!

How do you define success in your practice?

Success in my practice is “how much of a difference can I make for the people around me.” It’s not about the lawyer, it’s all about who that lawyer can be in service of others.

We make a difference for our clients when we help them navigate complex transactions, we make a difference for our teammates when we train and develop them, and we make a difference for our community when we invest ourselves into making it a better place.

Lawyers are in a place of tremendous privilege—we’re in the room and at the table with some of the most important decision makers across industries and borders. Success isn’t just a book of business or a name in a headline. It’s figuring out how to wield your privilege and power for the betterment of those around you.

What are you most proud of as a lawyer?

I am proud of the inclusive team I’m building. At the end of the day, a diverse and inclusive team is going to win. There’s a reason the Avengers don’t have five Thors!

Any elite board of directors has a mix of operators, visionaries, financial experts, and others. The idea that we want our teams to conform is left over for a past era of law that is fast becoming obsolete.

I spend a lot of my time developing and training my team and I am most proud when they see for themselves what they are capable of doing. The law firm world can be a hard place, especially for anyone who feels different or comes from a completely different background.

As a team leader, I find it incredibly fulfilling to help young lawyers find their talents and unique capabilities—especially if they come to the table with self-doubt or preconceived notions of their own limitations.

Who is your greatest mentor in the law and what have they taught you?

Tim Aragon, general counsel of the Denver Broncos, was my mentor for many years. Tim is the kind of natural, easy-going leader you feel so lucky to get to be around. He’s somehow one of the hardest workers you’ll ever meet but he also makes everything looks effortless.

I learned so many things from Tim—how do M&A is a big one! But the most important lesson that I learned from him is that there’s always room to be kind and generous. Even in the trenches, even all-nighters, even in the most aggressive negotiations—you can be good to the people around you. And it really matters!

Tell us your two favorite songs on your summer music playlist.

The Beatles – “Let It Be.”

We welcomed our daughter into the world earlier this year. She’s only a few months old but she already loves to coo along while I sing her to and play ukulele. This song is one her favorites and when we sing (or coo) it together, I feel like I’m exactly where I’m supposed to be.

Penthouse Motel – “Champagne and Trophies.”

The hook lyric in this indie track is a melancholy tribute to the grind: “let’s aim for champagne and trophies / I’m game for migraines and no sleep.”

It takes sacrifices and teamwork to make this demanding job a success. I love showing up for my teams and my clients through sleepless nights and headaches along the way--we don’t get trophies, but I’ll settle for a deal toy.

Russell Hedman of Hogan Lovells performs at Red Rocks Amphitheater in Colorado.

Credit: Russell Hedman and Jonathan Hurtarte/Bloomberg Law