ASM Global is still growing despite only a few months ‘ separation from Legends ‘ billion-dollar acquisition. The increase in amateur sports facilities and related journey are two new developments that highlight one of the ways that venue supervisor ASM Global sees growth.
ASM manages more than 300 locations global, including the residences of the Arizona Cardinals, Brooklyn Nets and Houston Texans, but the business is extremely expanding into amateur activities, too, in talks big and small. Given the state’s critical mass of high-end competition, the corporation acquired Edge Sports Group, which owns and runs a few professional facilities, generally ice rinks in Massachusetts, that house elite junior hockey programs for boys and girls. This acquisition, which is expected to draw competitors from all over the country, led by the company on Thursday.
In a telephone call, ASM Global CEO Ron Bension stated,” We see this as a main jumping off point to enter this industry also further… and really be a force to be reckoned with in the sports place company.”
The agreement comes shortly after ASM celebrated a milestone at a much bigger venue in the middle of the world by allowing testing at Hong Kong’s$ 4 billion Kai Tak Sports Park prior to its official 2025 opening.
Occupying the land of a former airport in Hong Kong, Kai Tak is billed as the world’s largest sports development. A 50, 000-seat stadium with a retractable roof and a field surface suitable for sports and concerts anchors it. A 10, 000-seat indoor sports arena with seating for both basketball and gymnastics and a 5, 000-seat sports field for public events, such as school and neighborhood club games, are also available at Kai Tak. Plus it has areas for team and athlete training, running trails, cycling tracks, playgrounds and ( less sporty ) plenty of retail space. Hong Kong, which would be the third-most densely populated nation if it were an independent country, would be one of the Chinese government’s intentions with Kai Tak in terms of expanding its outdoor athletic space. In early 2025, China’s Olympic-like National Games are expected to officially kick off Kai Tak.
” The scale of it]being built ] all at once is just staggering. We have been on the ground with the district’s entire business plan, concept design, operational planning, catering and hospitality, and more, according to Bension, the director of the six-year-long development project in Hong Kong. ” Now we’re moving into extensive pre- operational planning, event procurement and this summer’s testing event to put a bow on it”.
There are numerous obvious distinctions between funding the construction of 70 acres of facilities and purchasing an ice rinks regionally. The main difference is that large players are placing more and more emphasis on amateur sports. Unrivaled Sports was founded by billionaire sports team owners Josh Harris and David Blizter earlier this year, combining the pair’s recent investments in Cooperstown All Star Village and a complex at the Canton Pro Football Hall of Fame’s football-themed development.
Given the fragmentation of the sport, which is primarily run by mom-and-pop owners of facilities and competitions, youth sports have recently been viewed as a ripe for consolidation. Youth sports is a$ 52 billion industry in the U. S. alone, generating more than 200 million trips annually, according to Sports Events &, Tourism Association data cited by ASM.
ASM’s expansion into both amateur and youth sports does not mean it is reducing the importance of its extensive roster of professional sports; it operates multiple NBA and WNBA stadiums, as well as a number of collegiate and minor league facilities. By organizing and hosting its own competitions, the company may be able to generate new revenue, according to Bension. Additionally, ASM can use its experience in food and entertainment to draw crowds to an area where sports are popular.
The plan, says the executive, is” as ASM and Edge move out, to use the sports destination as an engine, a traffic engine to power these other related and necessary components —hotels, restaurants, and shops—not unlike entertainment districts”.