The two event giants will work directly with the Saudi Public Investment Fund
Live Nation and Oak View Group (OVG), two of the largest venue management companies in the world, have entered into a new partnership with the Saudi Public Investment Fund’s (PIF) SURJ Sports Investment Company. The venture is designed to invest in new stadiums.
It will invest in upgrading current stadiums as well as building new ones.
Its goal is to attract larger sporting and music events.
Xavier Campbell, former CEO of the Essendon Football Club, is the CEO of the venture.
Saudi Arabia is currently constructing the Prince Mohammed bin Salman Stadium in Qiddiya, which will hold 47,000 people.
OVG CEO Chris Granger via IQ: “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: “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.”
This article was written with information sourced from IQ.
