ASM Global Acquired by Live Experiences Company Legends
Premium live experiences company Legends is expanding its geographic reach and services portfolio with the acquisition of ASM Global, which manages a portfolio of more than 350 venues spanning five continents. Financial terms of the transaction were not disclosed.
Announced on Nov. 7, the acquisition will position Legends to meet the expanding needs of sports organizations, entertainment venues, convention centers and attractions globally “while supporting its vision to deliver exceptional live experiences,” according to Legends officials in a statement.
By adding ASM Global’s complementary strategy and management capabilities, Legends will be able to support its clients from project conception and planning to venue development and management, content and event booking, revenue strategy and sales execution, as well as omnichannel merchandising and hospitality services, according to Legends officials.
“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.
He continued, “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.”
Founded in 2008, Legends provides venue planning and project management, premium sales, sponsorship, hospitality and merchandise services to many of the world’s leading sports, entertainment and attractions 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.
The company boasts six divisions operating worldwide – Global Planning, Global Sales, Global Partnerships, Hospitality, Global Merchandise and Global Technology Solutions, and works with clients across business verticals including professional sports, collegiate, attractions, entertainment and leisure.
Leading global investment firm Sixth Street, which has more than $74 billion in assets under management, is the majority investor in Legends in partnership with YGE Holdings, LLC, an affiliate of the New York Yankees, and the Jerry Jones family, owners of the Dallas Cowboys.
ASM Global manages a global venue portfolio that includes leading arenas, stadiums, convention and exhibition centers and performing arts venues, including at ICC Sydney Convention Center, Avicii Arena in Stockholm, OVO Arena Wembley in London, Coca-Cola Arena in Dubai and State Farm Stadium, to name a few.
It also manages a number of major U.S. convention centers, including Moscone Center in San Francisco, the Los Angeles Convention Center and Huntington Place in Detroit, among many others, and boasts a robust corporate social responsibility platform, ASM Global Acts.
“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,” said Ron Bension, president and CEO of ASM Global.
In recent months, ASM Global has seen increasing competition from Oak View Group (OVG), which manages more than 400 venues worldwide, including convention centers, arenas, stadiums and performing arts centers. OVG manages more than 60 convention centers across North America, including Kay Bailey Hutchison Convention Center Dallas, Miami Beach Convention Center, Atlantic City Convention Center, Cincinnati’s Duke Energy Convention Center and I-X Center in Cleveland.
In July, ASM Global lost a renewal bid to continue its contract to oversee Chicago’s McCormick Place, one of the busiest and largest convention centers in the U.S., when the Metropolitan Pier and Exposition Authority (MPEA) tapped Oak View Group in a five-year deal that began on Oct. 1 and runs through Sept. 30, 2028.
As part of the transaction, current ASM Global equity holders Onex and AEG will sell their ownership interests, and ASM Global will continue to serve existing and in-development AEG venues.