Endeavor, the sports and entertainment agency, has acquired a majority stake in On Location Experiences while the NFL American football league has also increased its shareholding in the luxury events, ticketing, production and travel management services provider.
Endeavor has snapped up 33% stakes held by Redbird Capital and Bruin Sports Capital, as well as a 10% stake held by Carlyle Group, for a reported total of $660m (£500m/€590m).
The NFL will reportedly increase its shareholding from 16% to 20%, with the relationship between the two entities expanded to include ticketing packages for the league’s annual championship game, Super Bowl.
On Location also provides VIP services for about 150 other rights-holders, including golf’s PGA of America and tennis grand slams, with premium experiences such as player access on event days available to high-spending and corporate clients.
The provider has expanded significantly in recent years through a spate of acquisitions of the likes of Anthony Travel in 2016, Prime Sport in 2017 and Future Beat in 2018.
The deal was thought to be close in April 2019, although Endeavor’s decision to delay its IPO in September may have delayed the process.
“By bringing together a leader like On Location with Endeavor’s access and reach, we can advance the way consumers and brands think about money-can’t-buy experiences,” Endeavor chief executive Ari Emanuel said in a statement.
“Partnering with the NFL will enable us to leverage the best-in-class executions around one of the biggest events in the world, the Super Bowl, and extend this same level of service and experiences to other sports and entertainment properties globally.”
Former Time and Bloomberg Media executive Paul Caine will succeed John Collins as president of On Location following the deal.
NFL commissioner Roger Goodell added: “We are committed to offering NFL fans unique and first-class experiences at our events. On Location shares this commitment and delivers value for its partners and delights fans at events around the world.”