Live Nation and Oak View Group (OVG) have entered a partnership with SURJ Sports Investment Company, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), to invest in stadium infrastructure across the kingdom.
The venture will focus on both constructing new venues and upgrading existing ones, with the aim of attracting major international sports and music events. Xavier Campbell, former CEO of the Essendon Football Club, has been appointed chief executive of the entity.
OVG CEO Chris Granger said: “Sports and live entertainment have the unique ability to bring people together, inspire communities, and create lasting memories. The opportunity in Saudi Arabia is unlike anywhere else in the world, and we’re proud to partner with SURJ and Live Nation to help create a world-class, multi-purpose destination that can host a diverse range of experiences, from international sporting events and global concert tours to community programming and beyond.”
John Reid, Live Nation’s Chairman of EMEA, added: “Live Nation has been working and investing in Saudi Arabia since 2017, and this partnership builds on that long-term commitment. By bringing our expertise in programming venue operations and live events, we’ll help build venues and experiences that work for artists, athletes, audiences, and the wider industry.”
