On Location Experiences (OLE), the VIP experience company which is part-owned by the NFL, is reportedly close to being sold in a deal estimated to be worth up to $700m (£534m/€622m).
Endeavor, formerly WME-IMG, is set to pay between $650-700m for a majority stake in the company according to multiple reports. OLE offers luxury travel, accommodations, and experiences like on-field and post-game access at the Super Bowl and international sports events.
Live Nation has also held talks over acquiring the company, but it is thought the strong ties between Endeavor and the NFL have given the latter an advantage.
Bruin Sports Capital and RedBird Capital each own 30 per cent of OLE, while the Carlyle Group owns 10 per cent. The NFL holds a further 20 per cent which it reportedly plans to retain.
OLE has seen its revenue grew dramatically from $23m in 2014 to more than $600m last year. It posted an operating profit of $55m in 2018.
OLE receives about 9,500 Super Bowl tickets each year, plus an allotment through its subsidiary PrimeSport’s relationship with 24 NFL clubs.
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