CAA Sports Acquires ICON Venue Group
The Denver-based company manages major facility projects around the world, including Wrigley Field's restoration and the construction of London's O2 Arena.
CAA Sports continues to grow.
The agency will expand into project management with the acquisition of owner's representative firm ICON Venue Group, which oversees the development, design and construction of major facilities throughout North America and Europe. Financial terms of the acquisition were not disclosed.
ICON represented AEG when it built The O2 Arena in London, and it is now managing the Chicago Cubs' Wrigley Field Restoration Project. The 12-year-old company is also currently building or renovating venues for teams including the Sacramento Kings, Milwaukee Bucks, San Antonio Spurs, Utah Jazz, Colorado State University Rams, Toronto FC, Toronto Raptors, Orlando City Soccer and AS Roma, while its portfolio of sports, entertainment and public assembly sites also includes the New Jersey Devils' Prudential Center, the Sprint Center in Kansas City, Mo., the Edmonton Oilers' Rogers Place, the Denver Broncos' Sports Authority Field, the Pittsburgh Penguins' Consol Energy Center and 10 of 14 Major League Soccer stadiums.
ICON founder Tim Romani will continue to lead the firm from its Denver headquarters. "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," CAA Sports co-head Howard Nuchow said in a statement. "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."
Including ICON, CAA Sports has now made six strategic acquisitions in the past 11 months. The CAA division acquired sports marketing agency brandrapport in January, plus NFL player-repping 5 Star Athlete Management, corporate hospitality firms Beyond Sports & Entertainment and Goviva last June and licensing agency Fermata Partners in 2015.
"We could not be more thrilled to join such a prestigious and innovative company with an exceptional reputation in the sports and entertainment industries," Romani said in a statement. "There is so much value in the connectivity between CAA and ICON and we will utilize 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."