US-based Legends and ASM Global have signed an agreement under which Legends will acquire ASM Global and its venue management capabilities.
“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.”
Ron Bension, president and CEO of ASM Global, said: “We’re thrilled to join Legends, which shares our client-first approach and advances our goal of offering our partner organisations 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.”
Legends provides venue planning and project management, premium sales, sponsorship, hospitality, and merchandise services to many of the world’s most iconic 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.
Sixth Street, a leading global investment firm with over $74bn 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 portfolio of live event entertainment venues worldwide and provides venue operation and content and event booking. With clients spanning five continents, ASM Global operates venues that serve live events for more than 164 million guests annually including at ICC Sydney Convention Center, Avicii Arena in Stockholm, OVO Arena Wembley in London, Coca-Cola Arena in Dubai, and State Farm Stadium, among 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.
Financial terms of the transaction were not disclosed. Moelis & Company LLC and BofA Securities, Inc. are serving as financial advisors to Legends, and Ropes & Gray LLP is serving as its legal counsel. ASM Global’s financial advisors are Goldman Sachs and Jefferies, and its legal advisors are Latham & Watkins LLP, Hogan Lovells, and Arnold & Porter.
Founded in 2008, Legends is a premium experiences company with six divisions operating worldwide – Global Planning, Global Sales, Global Partnerships, Hospitality, Global Merchandise, and Global Technology Solutions.
