Former MLSE President & CEO Tim Leiweke has "founded the Oak View Group," a partnership with Irving Azoff's Azoff MSG Entertainment that will seek to "develop a national platform for delivering events and sponsorships to arenas and stadiums," according to Don Muret of SPORTSBUSINESS JOURNAL. Former Target VP/Experiential Marketing, Agency Management & Alliances Dan Griffis, who also had a stint as Chip Ganassi Racing VP/Business Development & Marketing, is the company's "third principal owner." The L.A.-based group is a holding company "for four lines of business." An Arena/Stadium Alliance division will be "focused on bringing more events to venues and creating new revenue streams tied to those events." A sponsorship division, called "Narrative," will be headed by Griffis. A consulting division also will be "advising teams on the sale of naming rights, premium seats and seat licenses." There also is a venture fund division, which already "owns a small piece" of an MLS stadium project proposed for South Florida by David Beckham's investment company. Leiweke said that the company has "made a few other investments to be announced later." OVG has "oral agreements with" Amalie Arena, The Forum in L.A., MSG, Philips Arena and Prudential Center to "bring more events and sponsorship dollars to those facilities." Leiweke also is in "talks with several other major league venues." His goal is to "work with a set number of 20 buildings, to stay focused and do a good job with those clients." There is "enough interest in the industry that Leiweke thinks it won't be a problem reaching that number." Leiweke: "This has been 40 years coming. As you would guess, Irving and I get along pretty well with the arenas. That's my strength and those are my friends" (SPORTSBUSINESS JOURNAL, 11/16 issue).
FILLING IN THE DETAILS: BILLBOARD's Ray Waddell noted Leiweke will serve as OVG CEO, while Azoff "brings his relationships" as a BOD member. OVG "already has the backing of major players in sports and entertainment," including NBA Commissioner Adam Silver, Jon Bon Jovi and Live Nation CEO Michael Rapino. While Live Nation is "actively on board with OVG, the relationship isn't exclusive." Both Leiweke and Azoff "stressed that OVG is not in the concert promotion business." The newly formed company aims to be "similar to a large facility management firm like SMG or Spectra, or even a large operator like Live Nation or AEG, only in that OVG could attempt to leverage its numbers and pool resources for buying power in operational needs." But Leiweke and Azoff "insist that's where the similarities end." OVG will "continue to assist MLSE in their transition and with preparation for both the NBA All-Star Game and World Cup of Hockey" (BILLBOARD.com, 11/16). In L.A., Ryan Faughnder writes OVG "could benefit from the combined talents" of Leiweke and Azoff. Leiweke has "deep connections in the sports industry and has spearheaded major development projects," while Azoff "brings a big music industry Rolodex to the table, having managed top-tier artists such as the Eagles and Christina Aguilera." Azoff also was "instrumental" in the $100M+ renovation of The Forum. The partnership "could put Leiweke in competition with his former boss," AEG Chair Phil Anschutz. The Forum, "already an Oak View client, competes directly with AEG's Staples Center for top musical acts." Though short on specifics, Leiweke said that he and Azoff are "focused on finding new revenue streams for venues, with an emphasis on helping live music catch up to sports as a money-maker" (L.A. TIMES, 11/17).
