Hogan Lovells advises Intermediate Capital Group on acquisition of the OVO Arena, Wembley

Built in 1934, the OVO Arena (formerly Wembley Arena) has played host to some of the world’s most famous artists, including David Bowie, Abba, Britney Spears and Beyonce. It’s original purpose (the “Empire Pool”) was to host aquatic events for the Empire Games. Over the years, it has hosted Olympic events in 1948 and 2012 and following a multi-million pound refurbishment in 2006, it has now cemented its position as of the premier UK locations for live music, entertainment and sport. Today, the Arena typically hosts 120 events a year across sport, music, comedy and family entertainment. With a capacity of 12,500, the Arena is the second largest in London and is operated by ASM Global, a global leading entertainment venue operator, with a portfolio of over 350 venues worldwide.       

The Hogan Lovells team was led by London Real Estate partner Graham Cutts with support from Stella Bliss, Lauren Addy, Rosemary Miller, Victoria Sheehan-Dare, Russell Pardoe, David Wood, Caroline Stares, Kevin O’Connor, Louise Cadman and Laura Scarisbrick. Business Restructuring and Insolvency was led by James Maltby with support from Robert Peel in the UK, and led by John D. Beck with support from Katherine Lynn in the U.S. Strategic Operations, Agreements and Regulation was led by Oliver Wilson with support from Bea Watts. Tax was led by Aaron Burchell with support from Christopher Hyde; Intellectual Property was led by Sahira Khwaja with support from Emily Sharkey; Employment was led by Katherine Savage and Competition was led by Christopher Peacock.

Partner Graham Cutts commented on the acquisition: 

“We are delighted to have successfully advised ICG on its acquisition of the iconic OVO Arena, Wembley. Not only does the deal highlight our capability to transact big ticket sports, media and entertainment assets, but also the depth and breadth of our expertise across the entire spectrum of the commercial, financial and restructuring elements that deals of this type require.”