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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.

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