US venue development, advisory and investment company Oak View Group has launched a global venue collective and will seek out a naming rights partner for British motorsport circuit Silverstone, which has signed up as the venture’s first member.
The OVG International Venue Alliance is modelled on OVG’s Arena and Stadium Alliance in the United States, an invitation-only partnership of 28 arenas which enables independent venues to attract global sponsorship opportunities, additional events and content, and achieve efficiencies of scale that are otherwise only available to large groups.
Along with seeking out a naming rights partner, Silverstone’s two-year founding member agreement with OVG aims to deliver corporate partnerships at prime locations around the track, including the prominent bridge connecting the hotel to the wing, the 4,000-capacity conference and exhibition space, the new luxury ‘Residences at Silverstone’, and the Silverstone Experience Centre – which is due to open soon.
In addition, OVG’s expertise in music and live entertainment will seek to attract events, including concerts and festivals, to the circuit which in July secured its long-term future as the host of Formula One’s British Grand Prix.
Sam Piccione, Oak View Group’s international president, said: “We’re delighted to be in a position to help Silverstone deliver additional revenue as a founding member of Oak View Group’s International Venue Alliance.
“This iconic circuit has a rich motorsports history, and we’re looking forward to working with the Silverstone team to develop world-leading content, partnerships, and experiences during this next exciting phase of their development.”
Nick Read, commercial director at Silverstone, added: “With Silverstone’s extended five-year contract to host the British Grand Prix now in place, the opportunities for partnerships with British and global brands are limitless.
“We are excited to be working with Oak View Group’s world-class team to expand our partner portfolio and reach, and we’re looking forward to working alongside other like-minded venues as they join the OVG International Alliance.”
The Silverstone partnership follows the launch of Oak View Group International in March, and the announcement of its first European development project – the Santa Giulia arena in Milan, which will host events during the 2026 winter Olympic Games.
Silverstone is the first of a number of announcements OVG expects to make as new members of the International Venue Alliance are confirmed throughout 2019. City Football Group, the parent company of English Premier League football club Manchester City, last month partnered with Oak View Group to explore the possible construction of a new arena on land close to the Etihad Stadium.