Next generation: 2024’s new wave of arenas
On the heels the launch of the revolutionary $2.3 billion Las Vegas Sphere last year, the concert business is braced for a fresh wave of game-changing arenas in 2024.
A joint venture between Oak View Group (OVG) and City Football Group (CFG), Manchester’s long-awaited Co-op Live is scheduled to open in April. The 23,500-cap development will become the UK’s largest arena when it launches at Etihad Campus, the site of Manchester City FC’s Etihad Stadium.
Confirmed shows so far include Olivia Rodrigo, Take That, Liam Gallagher, The Killers, Eric Clapton, Jonas Brothers, Nicki Minaj, Noah Kahan, Pet Shop Boys, Barry Manilow, Niall Horan and Slipknot. Several of the acts will perform multi-night runs.
“The idea and the mission is to be the biggest and best arena in Europe, and secondly, to bring more global talent to Manchester – that is ultimately the focus,” general manager Gary Roden told IQ last October. “Our model is based on bringing in international and UK artists to Manchester and sit there for longer. Manchester has now got seven Take That [shows] and London’s only got six, and that’s a massive step forward for us.”
Co-op Live will go head-to-head with ASM Global’s long-established 21,000-cap AO Arena in Manchester, but Roden insisted the goal was to “grow the overall pie” for live music in the city.
“We decided on Manchester on the basis that it is the UK’s second biggest music market by a significant distance after London,” he says. “And if you’re looking to build a new facility, then London’s got two [arenas], Birmingham’s got two, etc. I also think that people up north in general just love live music, and we see that in the stats. So I think there’s definitely room for us in Manchester.”
“There’ll be a defined next generation of artists and venues coming to the marketplace that has never been seen before”
OVG is also partnering with Live Nation and GL events to build Arena São Paulo, which is projected to open this year. OVG’s Brian Kabatznick has tipped the 20,000-cap venue to be “the greatest arena in Latin America,” and prove transformative for the region.
“Routing in Latin America today skews more toward festivals and stadiums because there’s a football stadium in every market, whereas arenas are limited. But with São Paulo coming on stream, and GL Events managing the Jeunesse Arena in Rio, you’ll see that there’ll be a defined next generation of artists and venues coming to the marketplace that has never been seen before,” he said.
Also slated for completion is the 18,000-cap Intuit Dome in Inglewood, California, US, which will house NBA side the LA Clippers from the 2024-25 season.
Other developments include South Korea’s 20,000-cap CJ LiveCity Arena, which is being built as part of AEG and CJ LiveCity Corporation’s new K-pop-focused entertainment complex in Goyang City, Seoul. It will also includes an outdoor performance space capable of accommodating 40,000 people.
And Hong Kong will welcome Kai Tak Sports Park, which will feature a 50,000-capacity stadium and 10,000-capacity indoor arena, with retractable seating. Operated by ASM Global, the venue will predominantly hosting sporting events.
“ASM Global will bring world-class sports and entertainment events and deliver an outstanding experience to fans and clients alike,” said ASM’s executive director Darren Burden. “The renders of the venues provide a tantalising glimpse as to what that experience will look and feel like and we can’t wait to start delivering events.”
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.
Oak View Group appoints new COO
Venue management giant Oak View Group (OVG) has appointed Francesca Bodie to the newly established position of chief operating officer (COO).
Bodie’s role will increase from capital development, mergers, and acquisitions to a focus on new revenue streams including overseeing all day-to-day operations for OVG globally, as well as leading OVG’s executive committee. She previously served as OVG’s president of business development.
The move comes as OVG announces a major strategic investment in Family Entertainment Holdings (FEH), as well as Navarro’s activations in partnership with Christian Navarro following OVG’s April 2023 announcement of the venture. Bodie served as the architect of both deals that bring “new premium entertainment offerings to OVG venues and partner venues globally”.
“I am honoured to lead and work alongside my exceptional team members that have worked tirelessly and passionately since OVG’s inception,” says Bodie. “Together, we’ve steadily developed Oak View Group into a world-class brand that resonates with fans, artists, and venue and sports professionals. With today’s announcement, we are continuing our focus on elevating all guests’ experiences through premium offerings and content at all OVG venues and those of our partners as well.
“I’m proud to be a part of a company that is passionate about continually raising industry standards”
“I’m proud to be a part of a company that is passionate about continually raising industry standards and exceeding guest expectations to reshape the live entertainment experience.”
OVG is adding touring family content with the investment in FEH, developer of family-oriented live events including toys-to-life shows of Mattel’s Hot Wheels Monster Trucks, Magic of Lights.
In addition to her ongoing responsibility for capital investment strategy and mergers and acquisitions, Bodie will lead the company in building processes across human resources, finance, legal, and marketing to fuel the continued growth of OVG. Based in Denver, Bodie will report to Tim Leiweke, chair and CEO of Oak View Group.
Prior to her new role, Bodie oversaw multiple global projects for OVG and the expansion of the company’s brand, and its venues, and creating growth in third-party partnerships by leveraging industry relationships and identifying new business opportunities globally. She played an instrumental role in leading key service company acquisitions and raising $12-billion-plus of invested capital for OVG’s multiple venues that have opened over the last 18 months, including the $1-billion-plus makeover for the redevelopment of Seattle’s Climate Pledge Arena.
“OVG is the only company in history to build and open seven brand-new state-of-the-art venues within 18 months”
She has also spearheaded new arena ventures deployed in areas such as New York’s $1.5 billion UBS Arena, home to the NHL’s New York Islanders; the $375 million Moody Center for the Texas Longhorns at the University of Texas in Austin; the $280 million Mullett Arena in Tempe, AZ; the $365 million Enmarket Arena in Savannah, GA; Acrisure Arena in Greater Palm Springs, home to the AHL’s affiliate of the Seattle Kraken, the Western Conference Champion Coachella Valley Firebirds; the $200 million CFG Bank Arena in Baltimore.
“2023 was a pivotal year for Oak View Group across its service business and owned and operated portfolio,” adds Leiweke. “OVG is the only company in history to build and open seven brand-new state-of-the-art venues within 18 months, and Francesca contributed greatly to that growth and success. As we look to the future, we’re honored to have Francesca as OVG’s first COO to nurture and mature our current businesses and spearhead our next phase of growth in 2024 and beyond.”
Presently, Bodie, who is Leiweke’s daughter, is leading upcoming OVG development projects including the new $10 billion arena and live entertainment district in Las Vegas; a new arena in São Paulo, BZ; renovation of the FirstOntario Centre Arena in Hamilton, ON; and the $365 million Co-op Live in Manchester, UK, which will be the UK’s largest indoor and most state-of-the-art entertainment venue, and Europe’s first carbon net zero building when it opens in April 2024.
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.
Legends-ASM deal signals shift in venue market
Legends’ blockbuster acquisition of ASM Global promises to usher in a new era in the venue management sector as the company battles for international market supremacy with Oak View Group.
The reputed $2.4 billion deal to create a premium global live events company was announced yesterday (7 November).
Launched four years ago following a merger between arena operators AEG Facilities and Onex’s SMG, ASM operates buildings including ICC Sydney Convention Center, Avicii Arena in Stockholm, OVO Arena Wembley, Coca-Cola Arena in Dubai, Brooklyn’s Barclays Center and State Farm Stadium in Glendale, Arizona.
Current ASM Global equity holders AEG and Ondex will sell their ownership interests as part of the agreement, while ASM will continue to serve existing and in-development AEG venues.
“[The] announcement is the culmination of the journey AEG and Onex embarked on in early 2019 when we completed the merger of AEG Facilities and SMG to form ASM Global,” says Dan Beckerman, president and CEO of AEG. “Our purpose has been clear from the start – to drive ASM’s growth and create significant value for ASM and its clients. Despite the tremendous impact of the pandemic, we were able to unlock substantial business value over the past four years with ASM growing both its revenues and global portfolio.”
AEG-owned venues including The O2 in London, AccorHotel Arena in Paris, Germany’s Barclays Arena in Hamburg and Mercedes-Benz Arena Berlin and Los Angeles’ Crypto.com Arena will remain under AEG control.
“While we will no longer be an owner in ASM, we look forward to continuing to work with the company and its talented leadership team”
“This transaction will allow us to focus on the continued growth of AEG’s core businesses, including our owned and operated real estate and venues and our live entertainment and ticketing business,” says Ted Fikre, vice chairman and chief legal and development officer of AEG. “AEG has enjoyed our successful partnership with Onex and, while we will no longer be an owner in ASM, we look forward to continuing to work with the company and its talented leadership team as they pursue ongoing success under the stewardship of Legends as the new owner.”
The transaction, which is subject to regulatory approvals, is targeted to close in 2024.
“We are extremely grateful to the entire ASM leadership team for their unwavering dedication to positioning the business for success, in particular during the unparalleled operating environment they faced during the pandemic, which has allowed ASM to recover so strongly and have great long-term prospects,” says Kosty Gilis, MD at Onex Partners. “We would also like to thank AEG who have been wonderful partners consistent with their impeccable reputation in the marketplace.”
Founded in 2008, Sixth Street-backed premium experiences specialist Legends provides venue planning and project management, premium sales, sponsorship, hospitality and merchandise services. 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.
“We believe ASM is being acquired by an outstanding company in Legends who will take the business to new heights,” adds Amir Motamedi, MD at Onex Partners. “We wish them much success in the coming years as they continue to grow the business and serve customers globally.”
“I always remind our folks, stay focused on us”
Legends says the ASM deal will enhance its 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”.
The experiences and hospitality realms are increasing priorities for the sector. Fellow venue giant Oak View Group (OVG), which was founded in 2015 by former AEG CEO Tim Leiweke and ex-Live Nation chairman Irving Azoff, oversees the operations of new venues such as Climate Pledge Arena at Seattle Center, UBS Arena in Belmont Park, New York, and Moody Center in Austin, Texas, and Acrisure Arena in Palm Springs, California, as well as the Co-op Live development in Manchester, UK.
OVG upped its offering with its acquisitions of Philadelphia-based venue management firm Spectra and Rhubarb Hospitality Collection.
OVG boss Leiweke attempted to play down the rivalry between the two behemoths in an appearance on The Bob Leftsetz Podcast earlier this year.
“I always remind our folks, stay focused on us,” said Leiweke. “We’re the greatest asset we have and we’re our own worst enemies. So stay focused on us. We’re going to be great, not because ASM is bad. We’re going to be great because OVG is going to excel.”
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.
OVG plans $280m revamp of FirstOntario Centre
Oak View Group (OVG) has unveiled plans to invest $280 million in the renovation of the FirstOntario Centre in Ontario, Canada.
Led by OVG and Hamilton Urban Precinct Entertainment Group, the revamp will see the 18,000-capacity arena that opened in 1985 transformed into a modern entertainment venue.
Upgrades to the city-owned facility include a reimagined facade, premium seating, enhanced acoustics, improved sightlines, upgraded concourses, and optimised clubs and suites and artist lounges.
The newly modernised venue will accommodate shows unable to land an available date at the Scotiabank Arena (cap. 19,800) in Toronto, which is owned by Maple Leaf Sports and Entertainment, where Tim Leiweke, OVG Chairman & CEO, was chief executive from 2013 to 2015.
“It’s a great market as Toronto has run out space for new construction. We’re making a big bet but we feel great about it”
Live Nation will serve as the FirstOntario Centre’s booking partner and bring concerts and other live events to the city of Hamilton. Work on the facility will begin in spring 2024, and the building is expected to open in fall 2025.
“Our timing is perfect,” says Leiweke, noting that billions of dollars in construction for ten projects in Hamilton is planned for the fast-growing region. “It’s a great market as Toronto has run out space for new construction. We’re making a big bet but we feel great about it. We have a great team here in place, a lot of great companies that believe in us and we are feeling very optimistic.”
OVG recently worked with Louis Messina, promoter of the Taylor Swift tour, to sell sponsorships for the singer’s six-night run in November 2024 at the Rogers Centre in Toronto.
“We already have a great infrastructure in place with a strong team up here,” says Leiweke. Besides Hamilton, Oak View Group recently completed renovations at the CFG Bank Arena in Baltimore and plans to complete work at the Co-op Live arena in the UK later this year.
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.
Cardiff arena design overhauled due to costs
The design of Cardiff’s new arena has been overhauled after material costs spiralled by more than 50%.
The venue, which is being developed by Robertson Group and will be operated by Live Nation and Oak View Group, was due to cost £180 million (€203m) but “inflationary pressures” saw it rise to almost £280m (€316m).
Now, architect Populous has made a number of major changes to the design, which have been approved by Cardiff Council planning committee.
The firm, which designed Tottenham Hotspur stadium and Cardiff’s Principality Stadium, has replaced its 2022 ‘lump of coal’ arena with a smaller, more rectangular, and lighter-coloured design inspired by the Welsh mountains.
The arena’s height, width, and length have shrunk by 6.5 metres, 9.53m, and 14m respectively, reducing the venue’s capacity from 17,000 to 15,348, according to Architects’ Journal.
Cardiff’s planning committee was told the venue has “lost capacity but gained versatility in what can be offered,” with a new flexible seating or standing arena at its centre.
Cardiff’s planning committee was told the venue has ‘lost capacity but gained versatility in what can be offered’
Other changes include a bronze-coloured aluminium façade, a ‘swoop’ on the arena’s southern exterior, and increased glazing on its east and west-facing elevations to create two arches on each, which will be illuminated for events.
The new arena will sit 4m south of the originally proposed position, on part of Cardiff’s existing County Hall car park in Atlantic Wharf within the Cardiff Bay area, which has been undergoing ongoing regeneration for more than 30 years.
In a design and access statement submitted for the new design in July this year, Populous wrote: ‘The proposed changes to the arena have arisen as a result of the global economic environment and associated increased material costs since the scheme was consented.’
The firm said a ‘full review’ of the proposals with the client led to the overhaul of the project to achieve ‘greater cost certainty’.
The arena was originally scheduled to open in 2025, but is not now set to be completed until the following year, according to Wales Online.
Live Nation already runs the existing 7,500-cap Motorpoint Arena Cardiff, as well as converted warehouse venue Titan Warehouse. OVG, meanwhile, is currently constructing the UK’s first all-electric arena, Co-op Live, in Manchester.
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.
Co-op Live’s Gary Roden on changing the arena game
Co-op Live boss Gary Roden has spoken to IQ about the mission to make the new Manchester venue the “biggest and best arena in Europe”.
A joint venture between Oak View Group (OVG) and City Football Group (CFG), the 23,500-cap development will become the UK’s largest arena when it launches at Etihad Campus, the site of Manchester City FC’s Etihad Stadium in Eastlands, in April 2024. Harry Styles has also invested in the project.
Roden joined Co-op Live as general manager six months ago, taking charge of the strategic and operational delivery, after over eight years at Ticketmaster UK, latterly as SVP of client development and commercial. Roden credits OVG CEO Tim Leiweke’s influence on the arena’s groundbreaking “music-first” design.
“You can expect a building that’s very forward-thinking – that’s what Tim is all about,” says Roden. “Tim is always in the future and he’s put a big stake in Manchester because he firmly believes in it, along with our partner City Football Group. The plan is to build this incredible space in the north that is of the same scale you would expect from a capital city. It’s definitely got the Tim touch to it, put it that way.”
“Manchester is the UK’s second biggest music market by a significant distance”
He continues: “Tim Leiweke’s key focus was that he wanted it to be Europe’s biggest nightclub and the venue’s got a lot more going on for the fan to engage with before, during and after the event.
“The thing that is surprising people the most is how big, yet intimate it is, and that’s because the floor has been designed as a standing music floor and then the seats have been built around that. A lot of the legacy arenas in the UK are built around ice rinks, so they have a smaller footprint on the floor and it leads to the seats being a much steeper angle. But everyone’s going to be a lot closer to the artist on average here than they would be in an equivalent venue.
“We’re also very confident that from a sound perspective, the artist is going to be incredibly happy with what we deliver for them. I just can’t wait for that first big, loud gig to kick in; it’s going to be amazing.”
With concerts by Olivia Rodrigo (two dates), Keane, Take That (seven), Elbow, Eric Clapton, Barry Manilow, Smashing Pumpkins & Weezer, James, Liam Gallagher (four), Jonas Brothers, Niall Horan and Simply Red announced so far, Co-op Live’s opening season is rapidly taking shape. The headline act for its first night is still to be confirmed, however.
“We’ve got to go through a cycle of test events – which we think are going to be in April – and then the first official event will be in late April, so we’re in the final throes of working that out,” Roden tells IQ. “At the moment, we’re looking at 35 shows in the first two-and-a-bit months, so it’s a very significant opening period.
“Arenas usually go quiet in May/June because everyone turns their attention to festival season, so the fact we’re going to be doing up to 40 shows in that window is is huge and we’ve still got some big multi-night announcements to come. It might be quite late before we confirm the first show, but the options we’ve got at the moment are really exciting. Unfortunately that’s all I can say at this point!”
“We want to create residencies in Manchester and distort the model so that, if something big comes to the UK, it just doesn’t sit in London”
While Co-op Live will go head-to-head with ASM Global’s long-established 21,000-cap AO Arena in Manchester, Roden says the goal is to “grow the overall pie” for live music in the city.
“We decided on Manchester on the basis that it is the UK’s second biggest music market by a significant distance after London,” he says. “And if you’re looking to build a new facility, then London’s got two [arenas], Birmingham’s got two, etc. I also think that people up north in general just love live music, and we see that in the stats. So I think there’s definitely room for us in Manchester.”
Roden is optimistic the residency model showcased by local heroes Take That’s seven-night stand will become more commonplace at the venue, potentially leading to longer UK tours for global superstars.
“The idea and the mission is to be the biggest and best arena in Europe, and secondly, to bring more global talent to Manchester – that is ultimately the focus,” he insists. “Our model is based on bringing in international and UK artists to Manchester and sit there for longer. Manchester has now got seven Take That [shows] and London’s only got six, and that’s a massive step forward for us.
“Hopefully in the next three months or so as we start to move towards opening, you’ll get to see what we mean by that in terms of what we’re trying to deliver. We want to create residencies in Manchester and distort the model so that, if something big comes to the UK, it just doesn’t sit in London, it comes to Manchester and sits up north longer.”
“The scene is vibrant and we’re looking forward to taking it up an extra notch”
Moreover, he notes the venue appears to be a draw in its own right.
“Tottenham Hotspur found that the talk about the quality of their new stadium led to a lot of people going to the first thing that they just to experience what it’s like, and I think we’re in similar territory,” he says. “A venue of this scale and size hasn’t been built in the UK since The O2, so it’s a big thing for live entertainment and a lot of people are keen to see it.
“The stats are crazy at the moment: 30% of people are travelling more than 100 km to see the first 10 acts we announced and 50% are coming more than 50km, so it’s not just a local thing, which we’re incredibly excited about because it proves out what we always thought this would be – a northern powerhouse of a venue for live entertainment indoors.”
OVG says Co-op Live, which is a partner for ILMC 36, has been designed “with sustainability at its core”, and will use electricity for everything from air-source heat pumps for heating and domestic hot water through to cooling and catering, without any gas supply serving the site. It will become the UK’s first all-electric arena upon its opening and has pledged to support Manchester City Council’s target of becoming net zero carbon by 2038.
“[Sustainability] has fed into every single aspect of it,” adds Roden. “With where we are in the world right now, you have to build any infrastructure project responsibly, with sustainability in mind – never mind a large entertainment building. The artists demand it and the fans demand it now as well, so that’s what we’ve got to deliver.”
Referencing the wider UK arena sector, Roden concludes: “The level of competition is high, but it needs to be because the demand is there. Live was always strong leading into Covid, but post-Covid that ability to enjoy something in a live environment has really captured the public’s imagination and they definitely crave live experiences.
“The arena industry, in general, is in great shape. Competition is high, which ultimately helps fans and artists because it means people have to invest more in their buildings. There are new facilities being talked about and people are looking to invest in the infrastructure to make it better, so the scene is vibrant and we’re looking forward to taking it up an extra notch.”
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.
OVG ‘very disappointed’ at Vienna arena veto
Oak View Group (OVG) has expressed its disappointment after an Austrian court revoked the decision to award it the contract to build and run a new “world-class” arena in Vienna.
OVG was identified as the ‘best bidder’ in July this year, with construction on the 20,000-cap venue scheduled to begin in 2025, aiming for completion in late 2029.
The €384 million arena was to be largely financed by OVG, with the City of Vienna contributing an amount in the “double-digit million range” according to the final offer.
However, Kurier reports the tender process is now back to square one after the award was “declared void for formal reasons” by Vienna Regional Court, following an objection by rival bidder CTS Eventim.
“Of course we are very disappointed with the result,” says OVG CEO Tim Leiweke, as per Die Presse. “This beautiful city has always been the jewel in Europe’s cultural landscape, but it had no arena to match it.
“We are pleased that the court assessed our offer in such a way that we meet all the tender requirements and also require the least amount of effort for taxpayers.”
“Should we decide to go ahead and continue the procedure, we remain confident that we will be able to overcome the court’s objections”
Jessica Koravos, president of OVG International, adds the company is now considering its options.
“Together with our partners in Vienna , the Oak View Group will now analyse the procedure and decide on the next steps,” she says. “Should we decide to go ahead and continue the procedure, we remain confident that we will be able to overcome the court’s objections and our project of a bespoke, contemporary venue with the latest technology will ultimately prevail.”
The opening of the arena was originally planned for 2024, but the City of Vienna began looking for a partner due to the expected high costs.
The Vienna arena was to have marked OVG’s ninth arena project in the last two years. The developer oversees the operations of Climate Pledge Arena at Seattle Center, UBS Arena in Belmont Park, NY, and Moody Center in Austin, TX as well as arena development projects for Acrisure Arena in Palm Springs, CA and Co-op Live in Manchester, UK.
Its other projects include Arena São Paulo in São Paulo, BZ; CFG Bank Arena in Baltimore, MD; FirstOntario Centre Arena in Hamilton, ON; a new arena and entertainment district in Las Vegas, NV; and a new arena in Cardiff, Wales.
Last week, it was announced that Climate Pledge Arena had become the first arena in the world to achieve International Living Future Institute’s Zero Carbon Certification. The certification is awarded to buildings that are energy efficient, can demonstrate a significant reduction in carbon footprint and offset the remaining embodied carbon and energy use through high-impact offset programmes.
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.
Oak View Group expands into the Middle East
Oak View Group (OVG) is expanding into the Middle East through a joint venture with newly established event management and venue operator, Ethara.
Ethara launched earlier this year following the merger of state-owned promoter Flash Entertainment and Abu Dhabi Motorsports Management (ADMM).
The new company promotes events such as the Formula 1 Etihad Airways Abu Dhabi Grand Prix and Yasalam After-Race Concerts, and operates venues in the United Arab Emirates, such as Etihad Arena, Etihad Park, Yas Marina Circuit and Yas Conference Centre.
With offices in Abu Dhabi, Dubai, and Riyadh, Ethara will “provide detailed knowledge of the local markets, enabling OVG and Ethara to explore significant growth opportunities together across the Middle East”.
The launch of the partnership follows OVG’s recent acquisition of leading British venue caterer Rhubarb Hospitality Collection (RHC).
The new JV will see both the RHC and Ethara working closely together to improve the fan experience by delivering exceptional food, beverage, and hospitality services at live entertainment venues across the Middle East, including in the UAE, Bahrain, Oman, Qatar, and Saudi Arabia.
“The pace of change in the region makes [the Middle East] one of the most exciting places in the world to operate in right now”
“The Middle East is home to some of the world’s fastest-growing economies and live entertainment markets, so our new offering in the region is a natural step for OVG to take,” says Tim Leiweke, CEO, OVG.
“The pace of change in the region, with major global events like the Dubai Expo and Qatar World Cup, makes it one of the most exciting places in the world to operate in right now. We are confident that working with our partner Ethara, OVG will emulate our success across North America and Europe in the Middle East.”
Saif Rashid Al Noaimi, CEO, Ethara, adds: “It is a proud moment to announce this joint venture with our new partner, OVG as we continue to expand our capabilities and impact across the region as the leading event management and venue operator in the Middle East. The significant growth in our region now includes regularly hosting the world’s biggest events. There is increasing demand for world-class venues with first-class hospitality to serve these events and provide unforgettable experiences for fans. This partnership with OVG will allow us to continue to innovate in this space and continue to bring exciting new events and opportunities to the market.”
Last week, OVG announced a partnership with Madison Square Garden Entertainment and its sister company Sphere Entertainment on a new entity, called Crown Properties Collection, which will manage their sports and entertainment brand partnerships.
OVG owns 11 major new arenas either open or under development including Climate Pledge Arena at Seattle Center, UBS Arena in Belmont Park, New York, and Moody Center in Austin, Texas, and Acrisure Arena in Palm Springs, California, as well as the Co-op Live development in Manchester, UK.
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.
OVG and MSG launch ‘revolutionary’ partnerships entity
Oak View Group, Madison Square Garden Entertainment and its sister company Sphere Entertainment are joining forces on a new entity that will manage their sports and entertainment brand partnerships, in what is being billed as the first global company of its kind.
Crown Properties Collection will manage many of the companies’ most prominent and lucrative sports partnerships, such as with the New York Knicks and Rangers, across some of their top venues, including Madison Square Garden, Radio City Music Hall and the soon-to-open Sphere Las Vegas.
In addition to being founding partners, the Madison Square Garden (MSG) family of companies will be the first clients of the Oak View Group-led venture, which will oversee global partnership sales and strategy for them. MSG and Sphere will contribute advisory services to Crown Properties and help in retaining the brand partners.
Jay Voelker, formerly of PGA, will join OVG as president to lead CPC and will report to OVG CEO Tim Lieweke.
“Crown Properties Collection will represent only the most valuable properties in all of sports and entertainment together with the most revolutionary venue in the world, Sphere in Las Vegas,” Oak View’s chairman and CEO Tim Leiweke said in a statement. “This, along with [Oak View Group’s] already industry-leading global partnerships platform, which has proudly sold $4.5B in partnerships over the last five years, will create the largest partnership of its kind in the live industry.”
Voelker adds: “Crown Properties Collection’s purpose is to provide unprecedented global representation for world-renowned sports and entertainment brands and venues, and there is no greater portfolio to begin with than the MSG family of companies’ world-class assets. I am honoured to join OVG, the leading full service live entertainment and hospitality company to represent CPC and create a new model for global partnerships in our industry.”
David Hopkinson, president and chief operating officer of MSG Sports, who oversees global marketing partnerships across the MSG family of companies, says the alliance is set to “revolutionise the partnership space across the sports and entertainment industries”.
“CPC will revolutionise the partnership space across the sports and entertainment industries”
MSGE’s portfolio includes New York City’s 20,000-cap Madison Square Garden, The Theater at Madison Square Garden, Radio City Music Hall, the Beacon Theatre and The Chicago Theatre, along with the firm’s entertainment and sports bookings business and long-term arena licence agreements with the New York Knicks and New York Rangers.
Sphere Entertainment encompasses the first Sphere venue – the 20,000-cap Sphere at The Venetian in Las Vegas – as well as MSG Networks. The Sphere is due to open on 29 September with a 25-date residency by U2.
In a recent appearance on The Bob Leftsetz Podcast, Leiweke spoke highly of MSG Entertainment’s Las Vegas Sphere project.
“If you don’t think the industry is changing, then go look at what Jim Dolan’s building with Sphere, because it’s revolutionary. It’s masterful,” he said. “I don’t know how heck he came up with all of this [and I’m] not sure how the hell you pay for it. But what I know is he’s going to change our industry forever. And the minute that opens up in September we will never be the same.”
OVG owns 11 major new arenas either open or under development including Climate Pledge Arena at Seattle Center, UBS Arena in Belmont Park, New York, and Moody Center in Austin, Texas, and Acrisure Arena in Palm Springs, California, as well as the Co-op Live development in Manchester, UK.
In recent years, OVG has also acquired a number of companies in the hospitality industry including Bovingdons Catering, Spectrum Catering, Concessions & Event Services and Rhubarb Hospitality Collection.
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.
Oak View Group names Ade Patton as CFO
Oak View Group (OVG) has appointed Ade Patton as chief financial officer, where he will direct and oversee the global financial and accounting activities of the firm.
Based in Denver, Colorado, Patton will report to OVG chairman and CEO Tim Leiweke. He assumes his new role effective immediately.
“I’m pleased that Ade will be joining OVG as our new chief financial officer,” says Leiweke. “Ade is a seasoned financial executive who has helped lead world-class companies, and I look forward to having him on our team to help guide OVG’s continued strategic and sustainable growth at scale.”
“Ade is a seasoned financial executive who has helped lead world-class companies”
Patton adds: “I am both proud and excited to join Oak View Group at this moment. We truly have an opportunity to transform the sports, live entertainment, and hospitality industries globally, and I am eager to join the world-class management team that Tim and Irving Azoff have assembled.”
Patton most recently as chief financial officer of HBO Max/Global DTC at WarnerBros Discovery and previously in investment management roles at Millennium Management LLC and Citadel LLC.
He earned a Juris Doctorate from Harvard Law School, an MBA from Harvard Business School, and received his bachelor’s degree from the University of Virginia.
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.