ALBANY, NY (CelebrityAccess) — As the concert industry spins back to life following the COVID-19 pandemic, ASM Global highlighted the results of a successful $30 million investment into the 39-year-old MVP Arena.
The 39-year-old venue, formerly known as the Times-Union Center, officially became MVP Arena on January 1st after health care provider MVP Health Services acquired the naming rights as part of a sponsorship deal that was announced in November 2021.
Highlights of the $30 million renovation, which was completed just before the pandemic took hold in North America, includes the enclosure of the arena’s front atrium and the rear exits, creating a climate-controlled space, providing guests with protection from the elements.
As well, the arena’s concourse was fully reimagined with a full redesign of the concession stands and restrooms along with renovations to all of the arena’s corporate suites and sports bars.
An additional $5.2 million investment helped the arena to upgrade its technological infrastructure, with new 360-degree LED ribbon boards on the arena’s inner bowl; a new video scoreboard; a new exterior marquee; and back-of-house, state-of-the-art amenities for artists and athletes performing at the MVP.
According to ASM Global’s Doug Thornton, the successful MVP Arena upgrade project highlights the benefits of a partnership with the global venue management company.
“Our local ASM management team has done a great job of incorporating the many revenue initiatives developed by ASM Global to generate outstanding returns on the investment made by Albany County. We also leveraged our deep company relationships with the world’s leading artists, agencies, promoters and event organizers to create an increased level of content, which has contributed to the financial success. ASM works closely with all of its clients to understand how increased utilization and additional revenue can be created through careful capital improvement planning, and certainly the model used in Albany County is a good example to follow in other markets that we serve,” Thornton said.
Thornton went on to note that while Albany County provided the capital for improvements at the arena, ASM Global played a key role in the planning and realization of the modernization plans at the arena.
“The improvements were guided by recommendations and input from ASM Global, who worked collaboratively with Albany County throughout the planning process. ASM provided this direction through its experience with other similar projects, corporate resources and various subject matter experts within the ASM venue network,” Thornton added.
As the arena nears completion of its refurb, Albany County solidified its relationship with ASM Global after the state legislature approved a two-year contract extension of their current management contract at the MVP.
“Five years and $30 million later, I’m proud to say that the improvements we made back then brought the county-owned facility into the 21st century. This is where countless memories have been made with family and friends for more than three decades, and our residents deserve entertainment experiences that are second to none,” said Albany County Executive Daniel P. McCoy.
“We continue to look for new ways to improve with this latest round of renovations at MVP Arena. Between a new video scoreboard, outdoor marquee, locker-room hallway and more, we’re making this an even better facility for the fans, athletes and artists and continuing to enhance the arena experience.”
When the pandemic hit in 2020, the arena had just completed one of the most profitable years in history, hosting 11 sold out concerts, NCAA Division I Women’s Basketball Regionals and the AFL’s Arenabowl in 2019.
2022 is off to a strong start, with the arena hosting concerts by John Mayer, Journey, Sebastian Maniscalco, and country icon Luke Combs, who set a personal record for his fastest selling show ever ahead of the September performance. Upcoming shows at the arena for this year include Roger Waters, Cody Johnson, and My Chemical Romance, among others.
“We cannot thank our patrons, sponsors and suite holders enough for their patronage of MVP. It is only with their support, and Albany County’s investment into this venue, that we are able to continue bringing top musical artists, first-rate sports and all shows in between to appeal to a wide variety of consumers,” said Bob Belber, ASM Global general manager, MVP Arena.
All technical upgrades at the MVP Arena are expected to be fully completed by September 2022.
