Legends To Acquire Venue Management Giant ASM Global
LOS ANGELES (CelebrityAccess) — Sports and entertainment company Legends announced the acquisition of ASM Global, operator of major sports and entertainment venues around the world, from AEG Worldwide.
The combined companies will create a new events company focused on the worlds of sports and live entertainment, servicing sports organizations, entertainment venues, convention centers, and attractions around the world.
“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,” said Shervin Mirhashemi, CEO of Legends. “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.”
“We’re thrilled to join Legends, which shares our client-first approach and advances our goal of offering our partner organizations a truly seamless experience while driving the growth of their businesses. 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,” added ASM Global CEO Ron Benison.
The two companies provided no additional information about a post-acquisition leadership structure.
Legends provides a range of venue services, including planning and project management, premium sales, sponsorship, hospitality, and merchandise services to major sports and entertainment brands, including Real Madrid, SoFi Stadium, One World Observatory, Dallas Cowboys, FC Barcelona, University of Notre Dame, New York Yankees, and Ryder Cup, as well as leagues and properties such as the NFL, MLB, NASCAR, PGA of America, and FIFA World Cup.
ASM Global manages a portfolio of live venues and provides event booking, concession, and venue operation services for its clients. The company’s management portfolio features some of the world’s largest stadiums and arenas, including ICC Sydney Convention Center, Avicii Arena in Stockholm, OVO Arena Wembley in London, Coca-Cola Arena in Dubai, and State Farm Stadium, among many others.
As part of the transaction, current ASM Global equity holders Onex and AEG will sell their ownership interests. ASM Global will continue to serve existing and in-development AEG venues.
The proposed sale still faces regulatory scrutiny and is subject to the usual closing conditions. The deal is expected to close in early 2024.
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