Legends – ASM Deal Is Done

There are now two main players in venue management: Legends-ASM Global and Oak View Group (OVG).

Legends finally closed on its acquisition of ASM Global following a nine-month review by the Department of Justice that resulted in a $3.5 million civil penalty. 

ASM Global manages more than 350 venues, a business Legends hadn’t previously been in. Its venues include Allegiant Stadium in Las Vegas; Caesars Superdome Convention Center in New Orleans; Target Center in Minneapolis; and Accor Stadium in Sydney.

The portfolio also includes global convention centers including Albany Capital Center; Brisbane Convention & Exhibition Centre; Colorado Convention Center; David L Lawrence Convention Center; Duke Energy Convention Center; Greater Columbus Convention Center, and more.

For now, ASM Global will continue to operate under its current name.

Battle is on Between ASM and OVG

OVG’s portfolio includes 400 venues with more than $5 billion of development in the works. OVG and ASM are often competing for management of the same convention centers, with one of the most contentious battles taking place at McCormick Place in Chicago.

After a competitive bid process, OVG replaced ASM at McCormick, the largest convention center in North America.

Founded in 2008, Legends provides venue planning and project management, premium sales, sponsorship, hospitality, and merchandise services to many sports, entertainment, and attractions brands. They include Real Madrid. SoFi Stadium. One World Observatory. Dallas Cowboys. FC Barcelona. University of Notre Dame. New York Yankees. Ryder Cup. It also works with leagues and properties including the NFL, MLB, NASCAR, PGA of America, and FIFA World Cup. 

Sixth Street, a leading global investment firm with over $74 billion in assets under management, is the majority investor in Legends. This is in partnership with YGE Holdings, LLC, an affiliate of the New York Yankees and Jones Concessions.