The CAA Sports division of US sports and entertainment giant Creative Artists Agency has acquired stadium and arena development firm Icon Venue Group.
Tim Romani, who founded Icon, will continue to lead the Denver-headquartered company, which manages the development, design and construction of sports and entertainment facilities across North America and Europe. Neither party disclosed financial terms of the acquisition.
“Tim Romani is a world-class executive who, in a short period of time, has grown Icon into a dominant player in the venue development space,” Howard Nuchow, co-head of CAA Sports, said. “Tim and his team’s expertise and experience are complementary with our wide-ranging service areas, and we look forward to working collaboratively to develop landmark opportunities in the global sports and entertainment marketplace.”
Icon has in the past overseen the development of such facilities as London’s O2 Arena; Consol Energy Center, Sprint Center, Prudential Center and Sports Authority Field in the US; and Rogers Place in Edmonton, Canada. The company’s portfolio of stadia also includes home grounds of 10 of the 14 Major League Soccer (MLS) franchises.
Icon is currently managing the construction, or redevelopment, of a host of arenas and stadia across North America and Europe, including those belonging to NBA basketball franchises the Sacramento Kings, San Antonio Spurs, Utah Jazz, Milwaukee Bucks and Toronto Raptors; MLS sides Toronto FC and Orlando City; NHL ice hockey outfit the Edmonton Oilers and Italian Serie A football club Roma. Icon is also overseeing the restoration project for Wrigley Field (pictured), the iconic home of Major League Baseball (MLB) team Chicago Cubs.
Romani added: “There is so much value in the connectivity between CAA and Icon and we will utilise that link to expand into related business opportunities that will add unparalleled new value in the venue development marketplace. CAA Sports is an ideal fit for Icon and together we look forward to creating the most unique venues and fan experiences throughout the world.”
Icon Venue Group is the sixth strategic acquisition by CAA Sports in the past 10 months. In January, it agreed a deal to acquire London-based sports marketing agency brandRapport.