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OVG unveils Palm Springs arena naming rights deal

Oak View Group (OVG) has announced a 10-year naming rights deal with financial services firm Acrisure for its new arena in Palm Springs, California.

Located in the heart of Coachella Valley, the 11,500-seater Acrisure Arena is projected to open in the last quarter of 2022 and will host more than 150 major events annually.

The partnerships also includes permanent exterior signage, entitlement to the arena’s largest premium private hospitality space, and prominent Acrisure logo placement on the roof and throughout the venue. Financial terms were not disclosed.

“Acrisure Arena will be the crown jewel of the entire Coachella Valley and a major destination for the biggest artists”

“We are proud to announce our naming rights agreement with Acrisure,” says OVG chief Tim Leiweke, leader of the arena project. “Acrisure Arena will be the crown jewel of the entire Coachella Valley and a major destination for the biggest artists, concerts, and sporting events in the world. Acrisure and Oak View Group are dedicated to using this platform to improve the lives of everyone in the Coachella Valley.”

OVG has pledged the venue, which will be home to the Coachella Valley Firebirds ice hockey team, will focus on “prioritising technology, sustainability and green initiatives”.

In addition to sports and entertainment, the arena will accommodate conventions, large meetings, international events as well as award shows and exhibitions.

 


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OVG announces new arena in southern California

Oak View Group and the Agua Caliente Band of the Cahuilla, a tribe of Indians native to the Coachella Valley, have announced plans for a new entertainment and sports arena in Palm Springs, California.

The project, which counts Live Nation as a strategic partner for events, will see the construction of an up-to-10,000-seat arena on 300,000sqft (27,870sqm) on Agua Caliente land in Palm Springs city centre. The new venue will be located to the north of the Agua Caliente Casino, also operated by the tribe.

“This is a unique partnership that will forever change the face of sports and entertainment in Palm Springs and the Coachella Valley,” says Jeff Grubbe, tribal chairman of the Agua Caliente Band. “We are creating a healthy community gathering place for Coachella Valley families and visitors from around the world to celebrate, play and experience diverse entertainment opportunities in a state-of-the-art arena.”

The privately funded Palm Springs arena comes amid a building boom for Tim Leiweke-led OVG, which is developing venues in Seattle, New York, Texas and, most recently, Milan, in its first international project.

In a tweet, OVG described its recent moves as representing “the most aggressive number of arena developments in the history of the industry”:

The Coachella Valley arena is expected to break ground in February 2020 and be open by autumn 2021. OVG and NHL (National Hockey League) Seattle have also jointly submitted an application for a 32nd American Hockey League (AHL) team, which would play in the new arena.

Other entertainment arenas in southern California include MSG’s 18,000-seat LA Forum, formerly co-owned by OVG’s Irving Azoff, and Staples Center (19,000-cap.) in Los Angeles, owned and operated by MSG/OVG arch-rival AEG.

“Oak View Group has consistently continued to raise the industry standard, and the arena in Palm Springs will be no exception”

Nearby Indio, meanwhile, is the site of AEG’s famed Coachella and Stagecoach festival.

“With each venue, we’ve had the privilege of building and managing, Oak View Group has consistently continued to raise the industry standard, and the arena in Palm Springs will be no exception,” says OVG CEO Leiweke. “We look forward to working with Agua Caliente to build what we consider to be one of the most premiere music and professional sports arenas in the world.”

Oak View Group, a venue development, advisory and investment company founded by former AEG CEO Leiweke and ex-Live Nation chairman Azoff, launched in 2015. In addition to its under-development arena projects, it runs the Arena and Stadium Alliance of 28 US venues.

It also has a venue-management outfit, OVG Facilities, launched in 2017 following the acquisition of Pinnacle Venue Services, and a security arm, Prevent Advisors, and owns industry trade titles Venues Today and Pollstar, the latter which it bought the same year.

“We’re pleased to be able to partner with Oak View Group and Agua Caliente for this new state-of-the-art arena,” comments Bob Roux, president of US concerts at Live Nation, “and look forward to bringing in top touring artists and live events to the Valley for years to come.”

 


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