Updated Nov. 8, 2023
NEW YORK and LOS ANGELES — Legends, a premium experiences company, acquired ASM Global. The acquisition will “create a premium live events company dedicated to providing outstanding experiences for fans around the world,” according to a press release from ASM Global and Legends.
The acquisition will expand Legends’ geographic reach and services offerings. Legends’ services portfolio will be bolstered by ASM Global’s venue management capabilities, helping the company to meet the needs of convention centers, global attractions, entertainment venues and sports organizations looking to deliver extraordinary live experiences for fans and attendees.
Through the acquisition, Legends will be able to provide support from project conception and planning to venue development and management to its clients. It will also allow Legends to support clients’ content, event booking, sales execution and revenue strategy, as well as hospitality services and omnichannel merchandising.
Legends, which was founded in 2008, provides merchandise services, sponsorship, premium sales, hospitality, venue planning and project management to clients including Real Madrid, One World Observatory, SoFi Stadium, Dallas Cowboys, NFL, MLB, NASCAR and FIFA World Cup among many other iconic sports, attractions and entertainment brands. The company operates six divisions worldwide — Global Planning, Global Sales, Global Partnerships, Global Merchandise, Global Technology Solutions and Hospitality.
ASM Global’s portfolio includes more than 350 convention and exhibition centers, arenas, stadiums and performing arts venues. The company opened Exhibition World Bahrain near the end of 2022, and earlier in 2023, it acquired talent-buying firm Madison Entertainment. Each year, ASM Global-managed venues welcome more than 164 million visitors to live events.
Sixth Street, an investment firm, is Legends’ majority investor in partnership with YGE Holdings, LLC, an affiliate of the owners of the Dallas Cowboys, Jerry Jones’ family, and the New York Yankees. Onex and AEG, the current equity holders of ASM Global, will sell their ownership interests as part of the deal.
“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,” Legends CEO Shervin Mirhashemi said. “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.”
The financial terms of the transaction were not disclosed, but VenuesNow reported the deal was valued at more than $2.4 billion, and in September, Bloomberg reported that Legends was looking for a $1.85 billion debt package to fund the acquisition. ASM Global will continue to serve the existing and in-development AEG venues as part of the transaction.