• Loading stock data...
Tuesday, July 16, 2024

The Company Operating Super Bowl LVIII’s Host Stadium Just Sold For Over $2B

  • Legends is buying ASM Global in a deal reported to be valued at $2.4 billion.
  • ASM Global is a stadium operator with more than 350 clients around the world.
Kirby Lee-USA TODAY Sports

A major, multibillion dollar deal has just been completed that will impact the host of Super Bowl LVIII in Las Vegas — and hundreds of other sports venues around the world.

Legends has just acquired ASM Global in a deal valued at more than $2.4 billion, according to Venues Now. ASM Global is a stadium and arena operator that oversees the management of more than 350 sports and entertainment venues. 

ASM’s portfolio is highlighted by the Las Vegas Raiders’ Allegiant Stadium — host of February’s upcoming Super Bowl — and also includes other premier venues like Caesars Superdome in New Orleans, Fiserv Forum in Milwaukee, OVO Arena Wembley in the U.K., State Farm Stadium in Phoenix, and U.S. Bank Stadium in Minnesota.

Legends is a multifaceted sports and entertainment company majority-owned by Sixth Street Partners, with minority investment from Dallas Cowboys owner Jerry Jones and the New York Yankees. 

Beyond its Cowboys and Yankees connections, Legends already works with other top sports venues such as SoFi Stadium and Real Madrid’s Santiago Bernabéu Stadium. It also works with leagues like the NFL and MLB to manage hospitality, merchandise, and more. The ASM acquisition will significantly bolster its footprint in sports venue operations.

As part of the deal, private equity company Onex and events company AEG will sell their investments in ASM.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Jul 4, 2024; Bronx, New York, USA; New York Yankees right fielder Juan Soto (22) reacts after hitting a two run home run in the seventh inning against the Cincinnati Reds at Yankee Stadium.

The $500 Million Juan Soto Question Lingers at MLB’s All-Star Game

Yankees superstar could attract second-largest player contract in U.S. team sports history.

As Another Men’s Golf Major Season Wraps, Still No PGA Tour-LIV Deal

The Open Championship begins Thursday at Royal Troon.
podcast thumbnail mobile
Front Office Sports Today

MLB Draft, ASG Highlight Teams’ Shifting Approach

0:00

Featured Today

Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.
July 13, 2024

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.
July 8, 2024

NFLPA Report Cards Have Become the ‘Talk of the Locker Room’ Across..

NFLPA report cards have become the ‘talk of the locker room.’
July 7, 2024

The New College Sports Insiders Are Graphic Designers

Joe Tipton and Hayes Fawcett have become premier news-breakers on social media.

Oakland Minor League Baseball Team Experimenting With Fan Ownership

The Ballers say more than 1,000 people have registered interest.
July 9, 2024

Missouri Steps Up Efforts to Keep Chiefs, Royals From Moving to Kansas

Missouri Gov. Mike Parson is getting personally involved in efforts to retain the two local pro teams.
July 10, 2024

Salt Lake City Takes Key Step to Handing NBA, NHL Owner Ryan Smith $900 Million

An agreement between Smith and the city was approved Tuesday night.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
June 28, 2024

NHL Draft and the Sphere Are About to Make History Together in Vegas

League officials call the next-generation venue ‘the biggest canvas you’ll ever paint on.’
June 27, 2024

Hurdles Still Remain After Jaguars Secure $775 Million for Stadium

The NFL team still needs to get league approval on its stadium deal and select a temporary home.
June 25, 2024

Billions in Public Funds Are Pouring Into NFL Venues. More Is Expected

Jacksonville and Charlotte are paying big to keep their NFL teams happy.
June 25, 2024

Charlotte Doles Out Over $700 Million In Upgrades for Pro Sports Teams

The city council approved $650 million in renovations for the Panthers.