Tim Leiweke, CEO of OVG, commented, "This merger brings together two dynamic leaders in the live events industry with complementary capabilities that will deliver a broad array of services to our clients. So, it is conceivable that a future NBA team could play in a venue that is not T-Mobile Arena. Project development will be led by Steve Collins, OVGs president of global venue development and special projects. All rights reserved. per informarci del problema. Discover a new way of submitting to Chambers with our Online Submissions. Chris Granger, Oak View Group. The private-equity firm is offering more than $100 million in exchange for an undisclosed equity stake in Oak View Group, a two-year-old entertainment and sports-facilities company. We have to be driven by music, Leiweke said of his proposed arena in the $3 billion sports/entertainment district. Joe Lombardo announces As ballpark funding tentative agreement. This proposed Oak View arena would compete directly against T-Mobile Arena, which houses the NHL Vegas Golden Knights and several annual UFC fight show events. Aydanos a proteger Glassdoor verificando que eres una persona real. 2023 Leaders Group. OVG is focused on being a positive disruption to business as usual in the sports and live entertainment industry and currently has eight divisions across four global offices (Los Angeles, New York, London, and Philadelphia). Today, OVG announced our newest development, a multi-purpose Retail & Entertainment district south of the Las Vegas strip that will include a 20,000-seat Arena, Casino, Hotel, and additional entertainment amphitheater. 1 company, ASM Global, which was born out of the merging of AEG Facilities and SMG, went through similar DOJ antitrust examinations before having its creation ratified in '19. "We want to grow, we want to get bigger, we want to compete," OVG President & CEO Tim Leiweke told SBJ. Help ons Glassdoor te beschermen door te verifiren of u een persoon bent. Leiweke said this proposed project, including the arena, is not reliant on an NBA team being a tenant. Granger will use his 25 years' worth of experience to oversee OVG Facilities, OVG Media & Conferences, and the OVG Arena Alliance. Copyright 2017 LVSportsBiz. Venues, arenas, and stadiums increasingly play an irreplaceable role in society. This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages. Chambers rankings and insights enable decision makers, from General Counsel at global blue-chip firms, through to local influencers, to secure the talent thats right for them. Discover who has been ranked as the top law firms and lawyers in this years guide. Live market coverage co-anchored from Hong Kong and New York. We firmly believe that OVG is positioned to become a world-class franchise in sports and live events. "From the world-class Climate Pledge Arena in Seattle to UBS Arena in New York, and Moody Center in Austin, Las Vegas will be the next jewel in the OVG crown.". Founded in 2015 to re-imagine the Sports and Live Entertainment industries. Even former UNLV basketball player Jackie Robinson, a Las Vegas businessman, has been working on a proposal to build a 20,000-seat arena with a retractable roof on Las Vegas Boulevard next to the Sahara hotel-casino. We look at the craftsmanship of high end products from African American-owned companies and Black creators. "This unprecedented project is an industry game-changer, and we will usher in the evolution of Las Vegas as the new entertainment AND sports capital of the world. Details of a planned $3 billion entertainment district, spanning 25 acres south of the Las Vegas Strip, have now been unveiled by Oak View Group.The project is set to include an 850,000-square-foot arena, casino, hotel and amphitheater.The arena could eventually be home to a Las Vegas professional basketball franchise. But its doubtful Leiweke would say the NBA is coming to Las Vegas because the league will handle its own announcement on its own timing. MGM Resorts and AEG, along with Foley, own T-Mobile Arena and are always on the lookout for programming for their arena that is tucked between MGM Resorts properties like Park MGM and New York New York. Valuable research and technology reports Spectra's onsite teams are backed by senior leadership providing expertise in sophisticated areas such as human resources, legal and risk management, procurement, communications, and crisis management. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), on Weekend Sports Gambler: Wake Up, The Rebels Are On The Map Again. "The team assembled has the track record and ability to bring another world-class venue to our world-class destination. Nous sommes dsols pour la gne occasionne. The facilities management space's No. Ray Waddell is President at Oak View Group LLC. As the largest arena developer in the world, we look forward to driving good paying job creation to Clark County as well as creating the most innovative and environmentally sustainable live entertainment point of destination in the world. Comprehensive company profiles. The company recently entered the facilities management business through its acquisition of Pinnacle Facility Management. Thank you and keep reading LVSportsBiz.com. Leiweke told CNBC that he believes theres enough entertainment and sports programming in Las Vegas to serve his proposed $1 billion arena that would be part of this entertainment project south of the Strip near Interstate 15 and the 215 Beltway. This merger accelerates our existing strategy and will lead to significant opportunities to cross-sell food, beverage and sponsorship services across our combined client base. on Golden Knights Jump Out To 4-0 Lead on Winnipeg, Grind Out 5-2 Win Before 17,777 At T-Mobile Arena Thursday, Las Vegas Sports Venues Driving Sports Industry. LVSportsBiz.com also spoke with Las Vegas Events President Pat Christenson, who believes a new 20,000-seat arena can be feasible in a town with Allegiant Stadium, T-Mobile Arena, Thomas & Mack Center, MSG Sphere in 2023, MGM Grand Garden Arena and Michelob Ultra Arena at Mandalay Bay. 1 as Oliver Anthony Makes Billboard Chart History, This Is an Existential Threat: Will AI Really Eliminate Actors and Ruin Hollywood? Premier Multi-Purpose Venue to Host Live Music and Sporting Events, Former Las Vegas Raiders President Marc Badain Spearheading Project with Oak View Group, World-Class Project Expected to Break Ground in 2023. Oak View Group believes the buildings and venues can house concerts, sporting events, conventions, large meetings, international events, award shows and exhibitions, while including green initiatives. The arena is proposed as part of a non-gambling hotel project. Silver Lake Bets More Than $100 Million on Venue Company Oak View Group. 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Oak View Group's annual revenue is $4.1M. Bloomberg Daybreak Asia. Oak View Group and Spectra announced an agreement to merge on Monday, creating a venue management and hospitality giant will own, operate, or service hundreds of venues across the globe.Financial terms of the merger, which is expected to close in the fourth quarter of 2021, were not announced. Tim Leiweke, CEO of Oak View Group, joins Contessa Brewer on Worldwide Exchange to discuss the Group's new investment in Las Vegas. Architecture firms Gensler and Populous were hired to design arena and entertainment project. Doing Science With China Makes the US Stronger, A BRICS Common Currency Is Still a Pipe Dream, Never Mind Shrinking Households, Builders Are Adding Bedrooms, Chris Christie Is Absolutely, Totally 100% Anti-Trump. Spectra, based in Philadelphia, is co-owned by a fund whose investors include Comcast Corp. and Atairos. 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IQ is the leading global news platform for the live music business. Gain a data-driven view of your firm's perception and position in the market with our insights report. Already a subscriber? All rights reserved.The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Leaders Group. 2. Spectra has positioned itself as an industry leader by helping clients maximize venue budgets and operations, optimize sales and marketing, elevate relationships with top promoters and meeting planners, connect with fans and the community, and implement industry best practices to effectively and efficiently host extraordinary live events and entertainment. "This announcement marks the next step in solidifying our reputation as #TheGreatestArenaOnEarth," said Michael Naft, Clark County commissioner. pour nous faire part du problme. Oak View Group rebuilt the old Key Arena in downtown Seattle into the $1.15 billion Climate Pledge Arena, where the Golden Knights play the Seattle Kraken tonight. If you continue to see this Las Vegas' source for sports-business news. 2023 Variety Media, LLC. OVG360, the formation of which comes after OVG's acquisition of Spectra in . 62 Low Happiness How enjoyable people find their day-to-day life at work Low Purpose .css-16c7pto-SnippetSignInLink{-webkit-text-decoration:underline;text-decoration:underline;cursor:pointer;}Sign In, Copyright 2023 Dow Jones & Company, Inc. All Rights Reserved. Thank you and keep reading LVSportsBiz.com. Nevada Gov. Find the best firm or individual for your matter by searching our rankings, The Impact of Public Finance on Community Development in the US, High Court rules on question of Russian sanctions, The start of the new UK Subsidy Control Regime, The growth in female lawyer rankings in Africa, Chambers International Capabilities Quadrants, Access your personalised data and analytics. While terms of the deal were not officially disclosed, sources close to the situation said a Wall Street Journal report claiming that the amount was $100 million was likely accurate, with possibly more to come. I cant wait to get started.. There are some examples where a markets NBA and NHL team do not play in the same arena. In addition, he is like us, dreaming for what we could be as an industry and thinking outside the box. We are the definitive mark of excellence across the legal industry. . Athletics take swing at ballpark in Las Vegas. 03:38 Wed, Mar 30 2022 6:41 AM EDT Financial terms of the transaction were not disclosed. Please see our selection of approved logos HERE. Situated adjacent to the planned Brightline high-speed rail station, it is estimated that more than 13 million vehicles coming from California pass the site every year. Leiweke was also the former CEO of the company that owns the NHL Toronto Maple Leafs and NBA Toronto Raptors. We understand that.. COSTS to ATTEND Raiders and Golden Knights games. In addition to Gensler and Populous, the project development will be led by Steve Collins, OVG's president of global venue development and special projects. Keeping this cookie enabled helps us to improve our website. Access the latest guides, updates, thought-leadership and events for the legal profession. Its been discussed for years that an NBA team can be a turnkey operation at T-Mobile Arena. But there is already a major new venue being built in Las Vegas designed to serve exclusively big music acts MSG Sphere Las Vegas, which is scheduled to open in 2023s second half. Granger joins the company from the Sacramento Kings and Sacramento Basketball Holdings, where he served as president. Oak View Group is headed to Las Vegas! Oak View Group comprises a sponsorship/partnership company,a consulting division, a venue security company, a media and conference division, a venture fund/equity divisionand the Arena and Stadium Alliance, designed to create efficiencies and cooperation between venues including Madison Square Garden, the Los Angeles Forum, Bostons TD Garden, Denvers Pepsi Center, Chicagos United Center, Dallas American Airlines Center and others. Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. There is no guarantee the NBA is coming. https://www.wsj.com/articles/silver-lake-bets-more-than-100-million-on-venue-company-oak-view-group-1520773200. Take advantage of our success by coming on board as an LVSportsBiz.com advertiser. This copy is for your personal, non-commercial use only. Leiweke was the former president and CEO of Maple Leaf Sports & Entertainment (MLSE) and former President and CEO of Anschutz Entertainment Group (AEG). envie um e-mail para enviando un correo electrnico a See other industries within the Information sector: All Other Telecommunications , Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services , Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers , Motion Picture and Video Industries , Newspaper, Periodical, Book . Variety is a part of Penske Media Corporation. All of us at OVG, our facilities, and our fans, are looking forward to Chris leadership.. 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