OVG launches International Venue Alliance
Oak View Group (OVG) today launched the International Venue Alliance, a network of independent entertainment and sports venues modelled on its US Arena and Stadium Alliance.
Its founding member is Silverstone Circuit, the ‘home of British motor racing’, including the Formula 1 (F1) and MotoGP grands prix, in Northamptonshire, UK. It joins the alliance after signing a deal that ensures the F1 British grand prix remains at the circuit until at least 2024.
Silverstone’s two-year agreement with OVG will draw on the latter’s live entertainment expertise to attract high-profile events, including concerts and festivals, to the circuit, as well as securing it an annual naming-rights partner.
OVG will also oversee corporate partnerships at prominent locations around the circuit, including the bridge connecting its hotel to the wing, its 4,000-capacity conference and exhibition space, the new luxury Residences at Silverstone and the soon-to-open Silverstone Experience Centre.
Oak View Group, a venue development, advisory and investment company co-founded by former AEG CEO Tim Leiweke and ex-Live Nation chairman Irving Azoff, launched its London-based overseas division, OVG International, at ILMC in March. The first OVG International project, Santa Giulia Arena in Milan, was announced in June as a joint venture with Live Nation. (Interestingly, Liberty Media, which owns a third of Live Nation, also owns Formula 1.)
Last month OVG also confirmed it is in discussions to build a new indoor arena in Manchester in northern England, in a challenge to SMG’s incumbent Manchester Arena.
“We’re looking forward to working alongside other like-minded venues as they join the International Venue Alliance”
Sam Piccione, president of OVG International, says: “We’re delighted to be in a position to help Silverstone deliver additional revenue as a founding member of Oak View Group’s International Venue Alliance.
“This iconic circuit has a rich motorsports history, and we’re looking forward to working with the Silverstone team to develop world-leading content, partnerships and experiences during this next exciting phase of their development.”
“With Silverstone’s extended five-year contract to host the British Grand Prix now in place, the opportunities for partnerships with British and global brands are limitless,” adds Nick Read, commercial director at Silverstone.
“We are excited to be working with Oak View Group’s world-class team to expand our partner portfolio and reach, and we’re looking forward to working alongside other like-minded venues as they join the OVG International Alliance.”
Piccione says he expects new members of the International Venue Alliance will be confirmed in the months ahead.
The alliance is modelled on OVG’s Arena and Stadium Alliance, an invitation-only partnership of 28 arenas in North America. Arena and Stadium Alliance members benefit from global sponsorship opportunities, additional events and content, and “efficiencies of scale that are otherwise only available to large groups”, according to OVG.
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.