NEW YORK (CelebrityAccess) — Legends Hospitality, backed by private equity investment firm Sixth Street Capital, is reportedly in talks with a group of private equity finance companies to fund a potential acquisition of venue management giant ASM Global.
According to Bloomberg, the lender group, including Apollo Global Management Inc. and Oaktree Capital Management, is in talks to provide a $1.85 billion financing package that would see Legends acquire ASM Global and refinance Legends’ existing debt into a single credit facility.
The deal would solidify Legends’ position in the sports and venue management spheres, unifying verticals that include facility planning and operation, concessions and merchandise, sponsorship, and sports team management.
Legends’s current partners and clients include the New York Yankees, the Oakland As, Manchester City Football, the Professional Fighters’ League and SoFi Stadium among others.
A rep for ASM Global declined to comment on the potential sale.
