ASM management change follows Legends merger

There have been changes at the top of venue management giant ASM Global following its acquisition by Legends.

The $2.325 billion deal to create “the world’s preeminent premium live events company” was completed last month, with ASM continuing to operate under its new name “for the time being”.

A spokesperson for ASM has confirmed to IQ that Ron Bension is no longer CEO of ASM Global, with Dan Levy now serving as CEO of the combined Legends and ASM Global business.

Bension, who was the long-time president of Live Nation’s House of Blues Entertainment prior to joining ASM in 2021, is understood to have left the Los Angeles-headquartered firm in the wake of the merger.

ASM was formed in 2019 following a merger between arena operators AEG Facilities and Onex’s SMG

VenuesNow reports that ASM CFO Mark Rozells has succeeded Bension on an interim basis, while the rest of ASM’s leadership team is unchanged.

Sixth Street-backed premium experiences specialist Legends’ existing clients include Real Madrid, SoFi Stadium, Dallas Cowboys, FC Barcelona, New York Yankees and Ryder Cup. Its expanded geographic reach will now support partners across Africa, Asia, Europe, Oceania, and North and South America.

ASM was formed in 2019 following a merger between arena operators AEG Facilities and Onex’s SMG. It operates buildings including Las Vegas’ Allegiant Stadium, ICC Sydney Convention Center, Avicii Arena in Stockholm, OVO Arena Wembley, Coca-Cola Arena in Dubai and State Farm Stadium in Glendale, Arizona.

ASM yesterday announced the appointment of Hugo Encarnação as general manager of its first Portuguese venues, Fabria XL and Fabrica L at LX Factory in Lisbon.

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‘The future is now’: Legends seals ASM acquisition

Legends says it has created “the world’s preeminent premium live events company” with the completion of its blockbuster acquisition of ASM Global.

The $2.325 billion deal was first announced in November 2023 and has now been completed after receiving approval from the US Department of Justice (DOJ).

The combined company, which will reportedly have 10,000 full-time employees, plans to provide a “data-driven, customisable solution across all areas of venue operations and revenue generation”. Services include venue planning, development and management; content and event booking; partnerships and premium ticketing; and merchandise and hospitality services.

Backed by global investment firm Sixth Street, New York-headquartered premium experiences specialist Legends’ existing clients include 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.

Its expanded geographic reach will now support partners across Africa, Asia, Europe, Oceania, and North and South America.

“The next era of Legends starts now,” says Dan Levy, CEO of Legends. “Over the course of 15 years, we have developed an unmatched solution to deliver a superior fan experience and help our partners grow. We are proud to add ASM Global to deliver even better experiences and value for our global partners, setting the standard in sports and entertainment.”

ASM, which is headquartered in Los Angeles, was formed in 2019 following a merger between arena operators AEG Facilities and Onex’s SMG. It operates buildings including Las Vegas’ Allegiant Stadium, ICC Sydney Convention Center, Avicii Arena in Stockholm, OVO Arena Wembley, Coca-Cola Arena in Dubai and State Farm Stadium in Glendale, Arizona.

“The opportunities created by our companies’ collective capabilities will elevate not only the success of our partners, clients, and projects worldwide but the industry as a whole”

“One of our ASM Global mantras for a number of years has been ‘the future is now.’ By joining Legends, that future has not only arrived, but it couldn’t be brighter,” says Ron Bension, ASM Global president and CEO. “The opportunities created by our companies’ collective capabilities will elevate not only the success of our partners, clients, and projects worldwide but the industry as a whole.”

ASM equity holders AEG and Onex agreed to sell their ownership interests as part of the Legends agreement, with ASM continuing to serve existing and in-development AEG venues. For the time being, ASM Global will continue to operate under its name.

Legends, which was founded in 2008, recently reached a $3.5 million (€3.2m) settlement with the DOJ after being accused of “illegal premerger coordination” in connection with the planned purchase.

The DOJ filed a civil lawsuit in the Southern District of New York, alleging Legends had exercised “operational control over aspects of ASM during the HSR waiting period involving venue management services for an arena in California”. The settlement offered no determination of liability.

The experiences and hospitality realm is an increasing priority for the venue sector, accelerated by the launch of Oak View Group (OVG) in 2015 by former AEG CEO Tim Leiweke and ex-Live Nation chairman Irving Azoff. OVG has since upped its offering with its acquisitions of Philadelphia-based venue management firm Spectra and Rhubarb Hospitality Collection.

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Legends installs ex-Meta executive Dan Levy as CEO

Premium experiences specialist Legends – which agreed a deal to acquire ASM Global last year – has appointed ex-Meta executive Dan Levy as CEO.

Levy, who joined Legends last month as interim president, served at Meta/Facebook for almost 15 years, latterly as VP of business messaging, before departing the company in 2023.

First reported by Sports Business Journal, Levy’s appointment will see former Legends’ CEO Shervin Mirhashemi transition to the position of vice-chair at the company.

“We are poised to take Legends to new horizons at the forefront of sports and entertainment”

“You have my commitment that this next chapter of Legends’ growth trajectory will be the most impressive yet,” Mirhashemi told employees in an email. “With Dan as CEO, together with [co-president and COO] Mike Tomon and the rest of our seasoned management team, we are poised to take Legends to new horizons at the forefront of sports and entertainment.”

Levy’s recent arrival at Legends coincided with the departures of multiple Legends executives, including former co-president and chief corporate officer Curt McClellan and longtime president of hospitality Dan Smith, who moved into a senior advisory role. The firm named Tom Funk as president, hospitality, in January.

Legends’ reputed US$2.4 billion acquisition of ASM Global was announced in November 2023 and is currently awaiting approval from the Department of Justice (DOJ).

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.

ASM equity holders AEG and Onex will sell their ownership interests as part of the agreement, while ASM will continue to serve existing and in-development AEG venues.

Founded in 2008, Legends is backed by global investment firm Sixth Street. The company’s fully integrated retail and merchandising vertical solution spans e-commerce, in-venue retail, large-scale live events, brick-and-mortar store operations, licensing and customer merchandise.

Its 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.

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