Colorado Ford Dealers Secure Naming Rights to New Outdoor Amphitheater in Colorado Springs, Colorado

Rhea-AI Summary

Ford (NYSE: F) has secured a 10-year naming rights agreement for a new luxury outdoor amphitheater in Colorado Springs, previously known as The Sunset. The venue, now named Ford Amphitheater, is set to open on August 9, 2024, with a grand opening weekend featuring performances by OneRepublic and other notable artists. The $90 million, 8,000-capacity venue includes 92 VIP luxury fire pit suites and is expected to generate over 100 million impressions annually. This landmark agreement, powered by local Colorado Ford dealerships, underscores Ford's long-term commitment to the venue's operator, Venu Holding , and its partnership with leading concert promoter AEG Presents.

Positive

• 10-year naming rights agreement highlights Ford's long-term commitment.
• Ford Amphitheater set to generate over 100 million impressions annually.
• The grand opening weekend features high-profile artists like OneRepublic.
• The venue has a substantial $90 million investment and 8,000 capacity, including 92 VIP suites.
• Partnership with AEG Presents, the second largest entertainment company worldwide, increases venue credibility.

Negative

• Significant financial commitment by Ford without immediate return projections.
• Potential risk if the venue fails to attract sufficient visitors post-grand opening.
• High operational costs associated with maintaining a luxurious venue.

"Ford Amphitheater" will be the most luxurious amphitheater in the Nation

Ten year-term struck between Notes Live, Inc. dba Venu Holding Corporation, and Ford

COLORADO SPRINGS, Colo., June 4, 2024 /PRNewswire/ -- Ford (NYSE: F) has acquired the naming rights to the ultra-lux outdoor music venue coming to Colorado Springs. The highly anticipated music haven owned by live entertainment and hospitality company formally Notes Live, Inc. dba Venu Holding Corporation ("Venu") is set for its Grand Opening Weekend August 9^th through August 11^th, 2024.

Formerly known as The Sunset, Ford Amphitheater will be operated by Venu and leading concert promoter, AEG Presents. AEG, also known as Anschutz Entertainment Group, is the second largest entertainment company worldwide. The 10-year naming rights agreement underscores Ford's long-term commitment to Venu and its association with the most luxurious venue ever built.

The agreement, powered by local Colorado Ford dealerships, includes official venue naming rights, premium venue signage, and other supreme brand activations. Between the prime location on the I-25 freeway and concertgoers visiting the $90-million-dollar, 8,000 capacity (including 92 VIP luxury fire pit suites) venue, Ford Amphitheater is set to showcase the powerhouse brand to over 100 million combined organic and non-organic impressions annually.

"A world-class amphitheater deserves a world-class name, and no name is more iconic than Ford," said Venu Chairman and CEO JW Roth. "They're built 'Ford Proud', as the slogan goes, and we are proud to showcase one of the great American brands right at the base of America's mountain, Pikes Peak."

At a press conference today announcing the news, Roth added while standing in front of the Ford Amphitheater's view of the Rocky Mountains, "We are all just thrilled with this landmark ten-year, multi-million-dollar agreement and look forward to opening the gates to Ford Amphitheater in 66 days."

"Your local Ford stores are proud to be an integral part of the community we serve," said Kevin Shaughnessy, President and CEO of Phil Long Dealerships. "From college athletics to professional sports and all the activities and associations that matter most, your local Ford stores are honored to be woven into the fabric that brings us all together. We are excited to support the all-new Ford Amphitheater and look forward to many unforgettable moments under the Colorado sky."

After breaking ground in July 2023, Ford Amphitheater is set for a sold out grand opening weekend on August 9th, 10th, and 11th, 2024. Kicking things off in style will be none other than three-time GRAMMY winner Ryan Tedder and his GRAMMY-nominated band, OneRepublic, followed by a summer line up featuring national touring acts like Beach Boys, Lauren Daigle, Dierks Bentley, Pentatonix, John Fogerty, and Robert Plant + Alison Krauss. See the complete line up at https://fordamp.live.

Ford Amphitheater is the flagship venue of the rapidly growing hospitality and entertainment company, Venu. The company has announced music and entertainment venues in Broken Arrow, OK; El Paso, TX; and McKinney, TX; alongside its currently operating locations in Colorado Springs, CO, and Gainesville, GA. Venu strives to identify markets in regions with growing populations and a dearth of high-quality music and entertainment venues. Venu has announced plans to go public in the coming months and plans to operate venues in a dozen markets by 2028.

About Notes Live, Inc. dba Venu Holding Corporation ("Venu")

Notes Live, Inc. dba Venu Holding Corporation ("Venu"), founded by Colorado Springs-based entrepreneur JW Roth, is a live music venue developer focused on building luxury venues that are experience and ambiance-centric. It currently boasts entertainment campuses in both Colorado Springs, Colorado, and Gainesville, Georgia that combine a Bourbon Brothers Smokehouse and Tavern restaurant, an indoor mid-size concert venue, and Notes Eatery (Colorado Springs only). Venu is currently in the development of new locations in Oklahoma, Tennessee, and Texas with seating capacities of between 12,500 and 20,000. The company's crown jewel: Ford Amphitheater, an 8,000-person open-air amphitheater in Colorado Springs, is set to open for the 2024 touring season on August 9^th with a sold-out, three-night run from OneRepublic. Visit venu.live for more information.

About Ford Motor Company

Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, committed to helping build a better world, where every person is free to move and pursue their dreams. The company's Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for customers and deepen their loyalty. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, along with connected services. The company does that through three customer-centered business segments: Ford Blue, engineering iconic gas-powered and hybrid vehicles; Ford Model e, inventing breakthrough EVs along with embedded software that defines exceptional digital experiences for all customers; and Ford Pro, helping commercial customers transform and expand their businesses with vehicles and services tailored to their needs. Additionally, Ford provides financial services through Ford Motor Credit Company. Ford employs about 176,000 people worldwide. More information about the company and its products and services is available at corporate.ford.com. 

For questions or media inquiries, please connect with Chloe Hoeft at choeft@noteslive.vip or 719-895-5470

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SOURCE Notes Live, Inc. dba Venu Holding Corporation ("Venu")

FAQ

What is the Ford Amphitheater in Colorado Springs?

The Ford Amphitheater is a new luxury outdoor music venue in Colorado Springs, set to open on August 9, 2024.

When is the grand opening of the Ford Amphitheater?

The grand opening is scheduled for August 9, 2024, with a weekend of performances by OneRepublic and other artists.

Who operates the Ford Amphitheater?

The Ford Amphitheater is operated by Venu Holding in partnership with AEG Presents.

What is the seating capacity of the Ford Amphitheater?

The amphitheater has a seating capacity of 8,000, including 92 VIP luxury fire pit suites.

How long is Ford's naming rights agreement for the amphitheater?

Ford has secured a 10-year naming rights agreement for the amphitheater.

What notable acts will perform at the Ford Amphitheater's grand opening?

OneRepublic, Beach Boys, Lauren Daigle, Dierks Bentley, Pentatonix, John Fogerty, and Robert Plant + Alison Krauss are scheduled to perform.

What is the cost of the Ford Amphitheater project?

The project cost for the Ford Amphitheater is $90 million.

What is the expected annual impression count for the Ford Amphitheater?

The venue is expected to generate over 100 million combined organic and non-organic impressions annually.