CAA Sports has acquired Denver-based Icon Venue Group, an arena and stadium project management firm that "has overseen high-profile sports developments," according to Liz Mullen of SPORTSBUSINESS JOURNAL. The acquisition "launches CAA Sports into an entirely new business -- acting as owners' representatives in the building of major sports facilities." Financial terms of the deal "were not disclosed." It also "adds to the suite of offerings that CAA Sports can provide to potential clients" and "gives CAA access to Icon's dozens of current and former clients." Icon CEO Tim Romani and 70 employees, "including engineers, construction project managers and attorneys, have all joined CAA Sports as part of the deal." CAA Sports co-Head Howard Nuchow said, "This is a new line of business for us, but complementary to our existing businesses." Mullen notes Icon over more than a decade has "worked on 38 stadium and arena projects." Icon currently is "working on 19 more projects in the design phase or under construction." Nuchow and Romani have "worked in the sports business their entire careers and have known each other, personally, for 20 years." The acquisition "came out of that relationship and discussions they had starting a little more than a year ago." Nuchow said that with Icon now part of CAA Sports they will "look to build new businesses together with their combined resources, although he would not be more specific" (
SPORTSBUSINESS JOURNAL, 3/21 issue).
