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The corporations behind distinctive $2.2 billion Las Vegas venue Sphere, the New York Knicks and Rangers and their iconic Madison Square Garden house have partnered with arena-builder and operator Oak View Group to launch a brand new group centered on promoting and managing naming rights, sponsorships, partnerships and related company relationships for sports activities and leisure venues.
Crown Properties Collection can be headed by President Jay Voelker, who not too long ago left the PGA Tour, the place he was SVP of enterprise growth, promoting sponsorships and rights offers to the Tour’s many company companions.
Oak View Group will run the group, with minority stakes from Madison Square Garden Entertainment and its subsidiary Sphere Entertainment Co., each managed by James Dolan.
“We are unique,” stated Oak View co-founder Tim Lieweke in an interview. “If we didn’t have the largest sponsorship operation in the world before, we do now. I have 250 people who will do nothing but sell sponsorships for our group.”
Crown Properties will give attention to high-end sports activities and music venues, Leiweke stated, taking the “luxury brand representation” path frequent in different corners of leisure and hospitality similar to motels, however seldom seen on this planet of huge arenas and stadiums. That means the corporate can be on the lookout for different shoppers to additional scale up operations.
“That’s part of reason MSG is an equity partner, because we do intend to grow,” Leiweke stated.
“Crown Properties Collection will represent only the most valuable properties in all of sports and entertainment together with the most revolutionary venue in the world, Sphere in Las Vegas,” Leiweke stated.
Naming rights and company sponsorships are already massive enterprise, with Oak View’s present operation promoting $4.5 billion price of rights over the previous 5 years. But Leiweke stated much more alternatives ought to lie simply forward, given the turmoil in different elements of sports activities sponsorships, such because the collapse of regional sports activities networks, unsure way forward for ESPN, and challenges going through the economics of broadcast, cable and streaming video.
“It’s not cluttered, (their represented venues) are unique in the category they operate,” Leiweke stated. “I think that’s the future, that’s the biggest opportunity you can walk into today.”
Oak View already had an enormous platform for promoting sponsorships, naming rights and associated partnerships and offers, promoting greater than $4.5 billion price of naming rights. The new group now will add greater than 40 individuals from MSG and Sphere operations.
“Crown Properties Collection’s purpose is to provide unprecedented global representation for world-renowned sports and entertainment brands and venues, and there is no greater portfolio to begin with than the MSG family of companies’ world-class assets,” stated Voelker, who in a launch referred to as Crown Properties “a new model for global partnerships in our industry.”
Leiweke referred to as the hiring of Voelker, a long-time enterprise affiliate who will report back to him, “a huge coup for us. He sells more sponsorship packages to CEOs and companies than probably just about anybody.”
Oak View Group is likely one of the world’s greatest stadium builders and operators, its latest initiatives together with the house for Seattle’s NHL enlargement franchise, the New York Islanders’ new area in suburban Elmont, N.Y., and the University of Texas’ Moody Center in Austin, in addition to worldwide venues in cities similar to , Vienna, Madrid, Sao Paulo, and Manchester, England. Oak View additionally runs dwell leisure and hospitality companies for about 350 venues.
Leiweke co-founded Oak View in 2015 with Rock and Roll Hall of Fame member Irving Azoff, identified for his long-time administration of The Eagles and stint as chairman of live-entertainment energy Live Nation EntertainmentLYV. Lieweke first made his popularity creating and operating Anschutz Entertainment Group’s dwell venues in downtown Los Angeles in addition to Phil Anschutz’s NHL franchise, the Los Angeles Kings.
The Crown Properties settlement additional formalizes long-time relationships between the leaders of Oak View, Sphere and MSG, together with Azoff’s partnership with MSG introduced in 2015, Azoff MSG Entertainment, which acquired and remade the Forum in Los Angeles suburb Inglewood, Calif., right into a extremely regarded music venue.
Sphere’s 18,600-seat Sphere on the Venetian Resort in Las Vegas is scheduled to host its first dwell occasions later this month after 4 years of development, with concert events by the band U2, which Azoff additionally has represented for a few years.
MSG’s corporations additionally embody Madison Square Garden, Radio City Music Hall, Beacon Theatre, The Chicago Theatre, New York Knicks, New York Rangers, MSG NetworksMSGN, and the Radio City Rockettes. Sphere additionally operates two MSG-branded regional sports activities networks and sports activities streaming service MSG+.
“The alliance of our two global powerhouses through Crown Properties Collection will revolutionize the partnership space across the sports and entertainment industries,” stated MSG President and COO David Hopkinson in a launch. “Together, we will be on the forefront of creating game-changing opportunities for our venues, teams, and brands.”
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