Endeavor Explores Potential Sale of Event Assets
Endeavor Group Holdings (NYSE: EDR) has initiated a review and potential sale of certain events within its IMG portfolio, including the Miami Open, Madrid Open tennis tournaments, and Frieze, the world's leading modern and contemporary art platform. This review follows Silver Lake's April 2024 agreement to take Endeavor private, which includes provisions for selling certain businesses, excluding TKO Group Holdings and WME. The company has retained The Raine Group to assist with the exploratory process, though no definitive timetable has been set.
Endeavor Group Holdings (NYSE: EDR) ha avviato una revisione e una potenziale vendita di alcuni eventi all'interno del suo portafoglio IMG, inclusi i tornei di tennis Miami Open, Madrid Open e Frieze, la principale piattaforma di arte moderna e contemporanea al mondo. Questa revisione segue l'accordo di Silver Lake del aprile 2024 per rendere Endeavor una società privata, il quale prevede la vendita di alcune attività, escluse le TKO Group Holdings e WME. L'azienda ha incaricato il Raine Group di assistere nel processo esplorativo, anche se non è stato stabilito un cronoprogramma definitivo.
Endeavor Group Holdings (NYSE: EDR) ha iniciado una revisión y una posible venta de ciertos eventos dentro de su cartera IMG, incluidos los torneos de tenis Miami Open, Madrid Open y Frieze, la principal plataforma de arte moderno y contemporáneo del mundo. Esta revisión sigue al acuerdo de Silver Lake de abril de 2024 para privatizar Endeavor, que incluye disposiciones para vender ciertos negocios, excluyendo TKO Group Holdings y WME. La empresa ha contratado a The Raine Group para ayudar con el proceso exploratorio, aunque no se ha establecido un calendario definitivo.
엔데버 그룹 홀딩스 (NYSE: EDR)는 IMG 포트폴리오 내에서 마이애미 오픈, 마드리드 오픈 테니스 대회 및 세계 최고의 현대 미술 플랫폼인 프리즈를 포함한 특정 이벤트의 검토 및 잠재적 판매를 시작했습니다. 이번 검토는 2024년 4월 실버 레이크가 엔데버를 비상장 회사로 전환하기로 한 합의에 따른 것으로, TKO 그룹 홀딩스와 WME를 제외한 특정 사업의 매각 조항이 포함되어 있습니다. 회사는 탐색 작업을 지원하기 위해 레인 그룹을 고용했지만, 구체적인 일정은 아직 정해지지 않았습니다.
Endeavor Group Holdings (NYSE: EDR) a lancé un examen et une vente potentielle de certains événements au sein de son portefeuille IMG, y compris les tournois de tennis Miami Open, Madrid Open et Frieze, la principale plateforme d'art moderne et contemporain au monde. Cet examen fait suite à l'accord d'avril 2024 de Silver Lake pour rendre Endeavor privé, qui comprend des dispositions pour la vente de certaines entreprises, à l'exception de TKO Group Holdings et WME. L'entreprise a retenu The Raine Group pour l'assister dans le processus exploratoire, bien qu'aucun calendrier définitif n'ait été fixé.
Endeavor Group Holdings (NYSE: EDR) hat eine Überprüfung und einen möglichen Verkauf bestimmter Veranstaltungen innerhalb seines IMG-Portfolios eingeleitet, einschließlich der Tennis-Turniere Miami Open, Madrid Open und Frieze, der weltweit führenden Plattform für moderne und zeitgenössische Kunst. Diese Überprüfung folgt auf die Vereinbarung von Silver Lake aus April 2024, die Endeavor privat nehmen soll, wobei Bestimmungen für den Verkauf bestimmter Unternehmen, mit Ausnahme von TKO Group Holdings und WME, enthalten sind. Das Unternehmen hat The Raine Group beauftragt, den Erkundungsprozess zu unterstützen, obwohl noch kein definitiver Zeitrahmen festgelegt wurde.
- Events under review have shown significant growth, with Frieze expanding to Los Angeles and Seoul
- Miami and Madrid Opens have set year-over-year attendance and sponsorship records
- Potential divestment of valuable revenue-generating assets
- Company going private, which could affect shareholder interests
Insights
The strategic review of IMG portfolio assets marks a significant development following Silver Lake's
The decision to retain core assets like TKO Group Holdings (UFC and WWE) and WME entertainment agency while divesting select event properties aligns with a focused growth strategy. The timing suggests Silver Lake aims to maximize value through targeted divestitures, potentially using proceeds to reduce leverage or reinvest in core business segments. The engagement of The Raine Group, a specialist in media and sports transactions, indicates serious intent to execute these sales efficiently.
Review includes Miami Open and Madrid Open tennis tournaments and Frieze, the world’s leading platform for modern and contemporary art
This review follows the announcement in April 2024 of Silver Lake’s agreement to take Endeavor private, which includes provisions related to the potential sale of certain businesses, excluding premium sports and entertainment company TKO Group Holdings and entertainment agency WME.
“Endeavor’s portfolio includes iconic, global, and must-attend events spanning sports, entertainment, and the arts,” said Mark Shapiro, President and Chief Operating Officer, Endeavor. “As part of Endeavor, Frieze and the
Endeavor has retained The Raine Group to assist with the exploratory process.
No definitive timetable has been set for completion of this review process, and there is no assurance that the review will result in any specific action. Endeavor does not intend to comment further regarding the potential sale of its event assets as described herein unless and until it determines that further disclosure is necessary or advisable.
About Endeavor
Endeavor (NYSE: EDR) is a global sports and entertainment company, home to many of the world’s most dynamic and engaging storytellers, brands, live events, and experiences. The Endeavor network specializes in talent representation through entertainment agency WME; sports operations and advisory, event management, media production and distribution, and brand licensing through IMG; live event experiences and hospitality through On Location; full-service marketing through global cultural marketing agency 160over90; and sports data and technology through OpenBet. Endeavor is also the majority owner of TKO Group Holdings (NYSE: TKO), a premium sports and entertainment company comprising UFC and WWE.
About the Miami Open
The 2025 Miami Open will be played March 16 – March 30 at Hard Rock Stadium. The 15-day combined event is owned and operated by IMG. The Miami Open is one of nine ATP Masters 1000 Series events on the ATP calendar, a WTA 1000 event on the WTA calendar, and features the top men’s and women’s tennis players in the world. The tournament is widely regarded as the most glamorous on the ATP and WTA calendars because of Miami’s unique personality, thriving nightlife, five-star hotels and restaurants, beautiful weather and beaches, and celebrity appeal, as well as its close proximity to both
About the Madrid Open
The Madrid Open is an ATP Masters 1000 and WTA 1000 tournament that will hold its 23rd edition from April 21 – May 4, 2025, in
About Frieze
Frieze is a leading global contemporary art organisation, renowned for its art fairs, publications and digital presence. Founded in 1991 with the launch of frieze magazine, the brand has grown to encompass seven of the most significant art fairs worldwide in cities including
With a dedicated team passionate about the arts, Frieze remains at the forefront of artistic exploration and cultural discourse, connecting diverse audiences with groundbreaking artists and their work. Frieze is part of the IMG network. For more information, visit frieze.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Endeavor intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including the potential sale of Endeavor’s event assets described herein. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees and involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from what is expressed or implied by the forward-looking statements, including, but not limited to important factors discussed in Part I, Item 1A “Risk Factors” in Endeavor’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as any such factors may be updated from time to time in the Company’s other filings with the SEC, including, without limitation, the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2024, accessible on the SEC’s website at www.sec.gov and Endeavor’s Investor Relations site at investor.endeavorco.com. Forward-looking statements speak only as of the date they are made and, except as may be required under applicable law, Endeavor undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Website Disclosure
Investors and others should note that Endeavor announces material financial and operational information to its investors using press releases, SEC filings and public conference calls and webcasts, as well as its Investor Relations site at investor.endeavorco.com. Endeavor may also use its website as a distribution channel of material Company information. In addition, you may automatically receive email alerts and other information about Endeavor when you enroll your email address by visiting the “Investor Email Alerts” option under the Resources tab on investor.endeavorco.com.
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Investors: investor@endeavorco.com
Press: Maura McGreevy / press@endeavorco.com
All other inquiries: Christopher Donini, Evan Ellsworth / endeavor@raine.com
Source: Endeavor Group Holdings
FAQ
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