Entertainment giant Endeavor has completed its takeover of NFL-backed On Location Experiences (OLE).
The deal sees Endeavor acquire a majority equity ownership stake while the NFL, through its strategic investment arm 32 Equity, will continue to be a minority shareholder and retain its seat on the board of directors.
According to a news release, ex-Bloomberg, Westwood One and Time Inc executive Paul Caine will lead the newly-integrated entity. John Collins, OLE’s CEO for the past four years, will serve as an advisor to the company and Endeavor through the integration period.
Ariel Emanuel, CEO of Endeavor said: “By bringing together a leader like On Location with Endeavor’s access and reach, we can advance the way consumers and brands think about money-can’t-buy experiences.
“Partnering with the NFL will enable us to leverage the best-in-class executions around one of the biggest events in the world, the Super Bowl, and extend this same level of service and experiences to other sports and entertainment properties globally.”
Global ambitions
On Location Experiences, which was originally a part of the NFL, has been privately held since 2015 by RedBird Capital Partners, Bruin Sports Capital, the Carlyle Group and 32 Equity, the NFL’s investment platform.
Under this new ownership, 32 Equity will remain a major shareholder and the NFL will enhance its strategic partnership with OLE focusing on providing NFL fans, partners and clubs access to its suite of premium hospitality offerings.
“We are excited to partner with Endeavor to grow On Location Experiences globally,” said NFL Commissioner Roger Goodell.
“We are committed to offering NFL fans unique and first-class experiences at our events. On Location shares this commitment and delivers value for its partners and delights fans at events around the world.”
Endeavor has a number of companies within its portfolio, including WME, IMG and the Ultimate Fighting Championship (UFC).
OLE is the official hospitality partner of the NFL, and a partner to more than 150 other rights holders, such as the NCAA, the PGA of America and the USTA.
The company provides official access for both corporate clients and fans looking for immersive experiences at marquee events including the Super Bowl, Pro Bowl, NFL Draft, NCAA Final Four, PGA of America events, numerous college football bowl games and the tennis majors.
Image: nfl.com