The new scheme will provide opportunities for ASM team members to give back and engage in local community initiatives
Sign up for IQ Index
The latest industry news to your inbox.
The blockbuster deal creates a premium global live events company to serve iconic brands in sports and entertainment
By James Hanley on 07 Nov 2023
Legends has confirmed its long-rumoured acquisition of venue management giant ASM Global, creating a premium global live events company.
The blockbuster deal will enhance Legends’ services portfolio, positioning it to “meet the expanding needs” of sports organisations, venues and attractions around the globe, while “supporting its vision to deliver exceptional live experiences for fans in the digital age”.
Founded in 2008, premium experiences specialist Legends – which is backed by global investment firm Sixth Street – provides venue planning and project management, premium sales, sponsorship, hospitality and merchandise services.
High-profile clients include prestigious brands such as Real Madrid, SoFi Stadium, Dallas Cowboys, FC Barcelona, New York Yankees, and Ryder Cup, as well as the NFL, MLB, NASCAR, PGA of America and FIFA World Cup.
“Legends and ASM Global are both deeply client-centric and fan-focused and together we will deliver maximum value for our global client roster with even greater support and service options,” says Legends CEO Shervin Mirhashemi.
“Welcoming ASM Global to Legends is a capstone achievement in our 15-year journey”
“Welcoming ASM Global to Legends is a capstone achievement in our 15-year journey toward becoming the world’s trusted partner for connecting people with the brands and communities that matter most to them, and for helping our clients create memorable moments that keep their fans and patrons returning time and again.”
Financial terms were not disclosed, but Bloomberg previously reported that Legends was in talks over a US$1.85 billion financing package to fund the acquisition, which will expand both its geographic reach and range of services.
ASM Global, which was formed in 2019 following a merger between arena operators AEG Facilities and Onex’s SMG, operates buildings including ICC Sydney Convention Center, Avicii Arena in Stockholm, OVO Arena Wembley, Coca-Cola Arena in Dubai and State Farm Stadium in Glendale, Arizona.
Current ASM Global equity holders Onex and AEG will sell their ownership interests as part of the deal, while ASM Global will continue to serve existing and in-development AEG venues.
“We’re thrilled to join Legends, which shares our client-first approach and advances our goal of offering our partner organisations a truly seamless experience while driving the growth of their businesses,” says Ron Bension, president and CEO of ASM Global.
“Our clients will benefit from Legends’ robust services, innovation, technology, and global partnerships which, combined with ASM Global’s venue management and content and event booking expertise, will provide our clients with locally tailored solutions and cutting-edge technologies to achieve outstanding fan experiences and improved venue owner results.”
Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.