Dave Checketts Lays Out His Vision For Legends Hospitality
DAVE CHECKETTS envisions building Legends Hospitality Management into an "international sports-marketing and entertainment business that advises franchises on media strategy, financing and building stadiums, then helps sell tickets and suites and handles concessions," according to Matthew Futterman of the WALL STREET JOURNAL. Checketts today was named Chair & CEO of the Yankees- and Cowboys-owned company, and he said, "This is the exact kind of platform I was looking for when I started SCP. It's two legendary brands and two great stadiums." Futterman notes the move "represents a soft landing as he moves from daily oversight" of sports-investment group SCP Worldwide. SCP "will continue, and Mr. Checketts will still be chairman, but his full-time job and daily focus will be on Legends." Checketts said that he has "raised $50 million from private investors during the past year and is paying an undisclosed amount for a minority stake in Legends." Legends handles concessions and "premium hospitality at Yankee Stadium, Cowboys Stadium and a handful of minor-league venues." However, he and Legends' investors from the Yankees, Cowboys and Goldman Sachs "are aiming to acquire media properties and perhaps sports events." Yankees President RANDY LEVINE said, "We're open to different types of opportunities. The whole idea is to be expansive and not have any barriers." Checketts said Legends has an annual revenue "above $200 million" (WALL STREET JOURNAL, 1/18).