Oak View Group
Oak View Group (OVG) is an American global advisory, development and investment company for the sports and live entertainment industries. Based in Los Angeles, it was formed on November 16, 2015 by Tim Leiweke & his business partner, Irving Azoff. Leiweke is the company's chief executive officer.
|Founded||November 16, 2015|
|Tim Leiweke and Irving Azoff|
History & Business DevelopmentsEdit
The company's biggest project is its redevelopment of the former KeyArena in Seattle, in part in preparation for the Seattle Kraken, the city's new National Hockey League team. The new arena, renamed Climate Pledge Arena via a naming rights deal with Amazon will also be home to the WNBA's Seattle Storm. On December 4, 2017, the Seattle City Council voted 7–1 to approve a memorandum of understanding with the Oak View Group for the redevelopment, which will build a new subterranean arena on the existing site while retaining the historical landmarked roof and three exterior walls. Demolition and construction for the new arena began in 2018 and will be fully completed in 2021. The company was competing against a rival proposal by Chris Hansen.
On December 7, the NHL's board of governors agreed to consider an application for an expansion team from Seattle, with an expansion fee set at $650 million. The Seattle ownership group is represented by David Bonderman and Jerry Bruckheimer. On February 20, Mayor Jenny Durkan launched an NHL campaign during her State of the Union and announced that the Oak View Group would be initiating a season ticket drive on March 1, 2018. Upon completion, OVG will manage the new Seattle Center Arena.
The group is also involved in the Belmont Park Arena's development with the New York Islanders. In December 2017, New York Arena Partners (a venture of the Islanders, Oak View Group, and Sterling Equities) won a bid to construct a new, 18,000-seat arena and mixed-used district at Belmont Park, beating a competing proposal by New York City FC for a new soccer stadium. The new arena is projected to be completed in time for the 2021-22 season.
In 2016, Oak View Group announced a "Arena Alliance" of independent arena which includes arenas such as AT&T Center (San Antonio), Scotiabank Arena (Toronto), Amalie Arena (Tampa Bay), BB&T Center (Ft. Lauderdale), Bankers Life Fieldhouse (Indianapolis), Chase Center (San Francisco), PPG Paints Arena (Pittsburgh), KeyBank Center (Buffalo), The Forum (Los Angeles), Golden 1 Center (Sacramento), Little Caesars Arena (Detroit), Madison Square Garden (New York), Pepsi Center (Denver), State Farm Arena (Atlanta), Prudential Center (Newark), Rocket Mortgage FieldHouse (Cleveland), Rogers Arena (Vancouver), Enterprise Center (St. Louis), United Center (Chicago) Wells Fargo Center (Philadelphia) and Xcel Energy Center (St. Paul).
In 2018, it was announced that Oak View Group and the University of Texas at Austin had agreed to build a new $338 million arena for the Texas Longhorns men's and women's basketball programs to replace the Frank Erwin Center.
In February 2019, it was announced that Oak View Group had become the arena manager of Webster Bank Arena in Bridgeport, Connecticut. In June 2019, it was announced that the Agua Caliente Band of Cahuilla Indians and Oak View Group plan to build a privately-funded arena on tribal land in downtown Palm Springs, California with the intent of the arena serving as the home ice for the Kraken's American Hockey League affiliate.
- "Tim Leiweke and Azoff MSG Entertainment Join Forces to Launch the Oak View Group (OVG)". Globe Newswire. November 16, 2015. Retrieved December 3, 2016.
- "Our Executive Team – Oak View Group". www.oakviewgroup.com. Retrieved 23 May 2017.
- "KeyArena MOU approved by Seattle City Council; will NHL announcement soon follow?". The Seattle Times. December 4, 2017.
- "KeyArena renovation wins approval from Seattle City Council". KING-TV. December 4, 2017.
- "Bettman says NHL will consider Seattle expansion bid". USA Today. December 7, 2017. Retrieved December 7, 2017.
- Rosen, Dan (December 7, 2017). "Seattle can begin NHL expansion process". National Hockey League. Retrieved December 9, 2017.
- "BREAKING: Seattle Mayor Jenny Durkan kicks off a campaign for NHL expansion". Sonics Rising. Retrieved 2018-02-21.
- Pm, 2018 6:06. "Oak View Group CEO: Nothing has changed with Belmont plan". Newsday. Retrieved 2019-02-25.CS1 maint: numeric names: authors list (link)
- "It's official: New York Islanders heading back to Nassau County". abc7ny.com. Disney–ABC Television Group. December 20, 2017. Retrieved December 20, 2017.
- "NHL's Islanders Win Right to Build Arena at Belmont Site". Bloomberg.com. 2017-12-19. Retrieved 2018-01-24.
- "OVG Unveils the Charter Members of the 'Arena Alliance' Uniting Independent World-Class Facilities for the First Time". www.businesswire.com. 2016-09-19. Retrieved 2019-02-25.
- "Oak View Group Acquires Venues Today". VenuesNow. 2016-12-21. Retrieved 2019-04-06.
- "It's official: Oak View Group acquires Pollstar". IQ Magazine. Retrieved 14 July 2017.
- Daniel, Cody (2018-12-20). "The University of Texas, Oak View Group agree to build 'world-class' on-campus arena". Burnt Orange Nation. Retrieved 2019-02-25.
- "OAK VIEW GROUP TO MANAGE WEBSTER BANK ARENA". WebsterBankArena.com. Retrieved 2019-02-25.
- "Seattle NHL franchise to have AHL affiliate in Palm Springs". USA TODAY. Retrieved 2019-06-28.