Month: August 2024

The University of Michigan Athletic Department announced today that it has entered into a 10-year partnership with global premium experiences company Legends to create a best-in-class online shopping experience for fans and at all existing athletics facilities. 

Legends will have the exclusive rights to manage, operate, sell, and distribute all Michigan-licensed merchandise and will operate the ‘Official Team Store,’ which will continue under the MDen name. Legends will use a data and fan-led approach to develop an industry-leading customized merchandise solution for Michigan that will deliver an expanded product assortment and enhanced customer experience for students, alumni, and fans wherever they purchase their U-M gear. In addition to the existing athletics facilities, work is underway to secure a new off-campus retail store location.

“Our partnership with Legends will provide our fans with a fully integrated retail experience both in-venue and online,” said Warde Manuel, U-M’s Donald R. Shepherd Director of Athletics. “Fans will be able to purchase a comprehensive assortment of licensed products from a best-in-class retail partner that focuses on a holistic customer experience. We are excited to begin this new venture with Legends.”

“Legends is honored to partner with U-M to deliver their passionate fans an enhanced, seamless shopping experience. Our team will work alongside U-M to maximize fan expression and the University’s powerful brand affinity through compelling products and premium experiences,” said Kirta Carroll, President, Legends Global Merchandise. 

Added Mike Behan, President, Legends College: “Innovative universities like U-M are thinking differently about generating revenue in the new collegiate landscape. Legends’ expertise in creating customized solutions focused on the fan experience and monetization for premier athletic departments makes this a perfect fit.” 

Michigan and Legends’ partnership expands beyond merchandise and includes Legends research arm CSL executing a premium experiences study for Michigan Stadium. 

Legends’ fully integrated retail and merchandising vertical solution works with world-class clients around the globe. This includes vast experience developing and operating eCommerce and retail experiences for some of the world’s largest sporting events and organizations: Super Bowl, Paris 2024 Olympic and Paralympic Games, PGA Championship, College Football Playoff, Dallas Cowboys, New York Yankees, Real Madrid and a growing roster of NCAA partnerships, including Indiana University, Georgia Institute of Technology, Ohio State University, Purdue University, and Villanova University.

Legends today announced the completion of its previously announced acquisition of ASM Global. The combination of Legends and ASM Global creates the world’s preeminent premium live events company dedicated to providing fans with outstanding experiences globally.

When a brand or venue wants to enhance the fan experience and increase monetization, they will turn to the combined Legends and ASM Global. Together, the companies provide a data-driven, customizable solution across all areas of venue operations and revenue generation focused on delivering exceptional fan and guest experiences in the sports, entertainment, attractions, conventions, and leisure industries. The Legends solution now includes world-class venue planning, development, and management; content and event booking; partnerships and premium ticketing; and merchandise and hospitality services.

“The next era of Legends starts now,” said Dan Levy, CEO of Legends. “Over the course of 15 years, we have developed an unmatched solution to deliver a superior fan experience and help our partners grow. We are proud to add ASM Global to deliver even better experiences and value for our global partners, setting the standard in sports and entertainment.”

Ron Bension, ASM Global President and CEO, said, “One of our ASM Global mantras for a number of years has been ‘the future is now.’ By joining Legends, that future has not only arrived, but it couldn’t be brighter. The opportunities created by our companies’ collective capabilities will elevate not only the success of our partners, clients, and projects worldwide, but the industry as a whole.”

Founded in 2008, Legends has grown organically and through acquisition from a hospitality business to a holistic, industry-leading service provider working with the most iconic and innovative brands in sports and entertainment. Legends’ expanded geographic reach will now support partners across Africa, Asia, Europe, Oceania, and North and South America – providing the benefits of global scale with unparalleled local expertise. For the time being, ASM Global will continue to operate under its name.

Sixth Street, a leading global investment firm with more than $75 billion in assets under management, is the majority investor in Legends in partnership with YGE Holdings, LLC, an affiliate of the New York Yankees, and Jones Concessions LP, a Jerry Jones family company. As part of the transaction, previous ASM Global equity holders Onex and AEG have sold their full ownership interests.

Moelis & Company LLC and BofA Securities, Inc. served as financial advisors to Legends, and Ropes & Gray LLP and Cleary Gottlieb Steen & Hamilton LLP served as its legal counsel. Goldman Sachs and Jefferies served as financial advisors to ASM Global, and Latham & Watkins LLP, Hogan Lovells, and Arnold & Porter served as its legal counsel. Gibson, Dunn & Crutcher LLP served as legal counsel to YGE Holdings, LLC and Jones Concessions LP.

Merchandise Revenue and Per Caps Doubled Previous Year

The 2024 Cincinnati Open achieved record-breaking retail sales in the first year under operations by global premium experiences company Legends. The 2024 tournament, which ran from August 11-19 at the Lindner Family Tennis Center, saw merchandise revenue and per caps double the previous year and mark a tournament record. Tournament attendees experienced a completely overhauled on-site retail store and shopping experience this year with new and expanded product offerings that drove excitement amongst tennis fans in attendance.   

“Introducing a new name and logo in 2024 necessitated a new merchandise experience, and the response we saw from fans as a result of our partnership with Legends far exceeded expectations,” said Bob Moran, President of Beemok Sports and Entertainment. “The volume of fans wearing the new Cincinnati Open gear and the overwhelmingly positive feedback we received were key factors to the success of this year’s tournament and are indicative of the opportunities that lie ahead.”

“The energy around the 2024 Cincinnati Open was electric. Our team met the moment, creating an on-site shopping experience that aligned with the excitement on the courts while providing the best service to every customer that walked through the door,” said Kirta Carroll, President, Legends Global Merchandise. “We are thrilled with the attendees’ response and excited to work in partnership with the Cincinnati Open team to continue enhancing our offerings and the shopping experience for next year and beyond.” 

For the 2024 tournament, Legends constructed an expansive retail shop spanning 11,000 square feet featuring the largest collection of Cincinnati Open and tennis merchandise in the history of the tournament. Over 850 items from more than 30 brands and vendors, including new offerings from FILA, Tasc, Straight Down, Garb and Yeti, were available for fans of all ages. The top-selling items were oversized tennis balls, headwear and the official 2024 Cincinnati Open on-court player towel. Legends is the official on-site merchandise provider for the Cincinnati Open.

Click the following link to view photos of the 2024 Cincinnati Open Shop.

Legends’ fully integrated retail and merchandising vertical solution works with world-class clients around the globe across eCommerce, in-venue retail, large-scale live event, brick-and-mortar store operations, licensing and customer merchandise. This includes vast experience developing and operating on-site retail at some of the world’s largest sporting events and premier venues including the Super Bowl, PGA Championship, Paris 2024 Olympic and Paralympic Games, SoFi Stadium, Yankee Stadium and more.

Le Moyne College has entered into a five-year agreement with Legends to raise $40 million to support the upcoming renovation of the Thomas J. Niland Jr. Athletic Complex. Le Moyne graduate Mike Behan ’05 serves as president of Legend’s College Division, which provides leading collegiate organizations and events with an industry-leading comprehensive service solution. 

“This partnership will benefit the entire campus community,” said Le Moyne President Linda LeMura. “The planned renovations to the Niland complex will add to and upgrade our fields, fitness and wellness facilities used by students, faculty and staff, as well as those living in the neighborhoods surrounding campus. Working with Legends will allow our advancement and innovation team to continue to focus on academics and other key areas of fundraising.” 

Legends, a global premium experiences company, launched its philanthropy practice in 2017 and has built a successful fundraising track record, including work with the University of Notre Dame, the University of Oklahoma, the University of Southern California, Villanova University, and the Rose Bowl, among many others. All told, the company has assisted in maximizing revenue associated with more than $2 billion in new and renovated facility projects. The company’s IQ division provides the business intelligence driving and informing its work.

“I’m excited that we are bringing in a global leader to help us achieve our goals in the athletics, fitness and wellness areas,“ said Jim Joseph ’83, Ed.D. ’23, vice president for advancement and innovation and dean of the Madden College of Business and Economics. “Working seamlessly as one team, advancement and innovation and Legends will also procure resources for athletic scholarships and other athletic-focused endowment funds.”

In addition to working on gifts to fund the immediate athletics needs, Legends approach is to develop a sustainable fundraising model to provide for annual gifts going forward, building a culture of athletic philanthropy that will develop a pipeline for major gifts in the future.  

“It brings me great pride that Legends has the privilege to partner with Le Moyne, my alma mater,” said Behan. “This is a transformative time for Le Moyne given its recent move to Division I. We look forward to supporting the College in reaching new heights!”