LOS ANGELES–(BUSINESS WIRE)–#ASMGlobal–City of Glendale officials have approved an ambitious new long-term lease agreement and $40 million renovation plan with ASM Global—the world’s largest venue management company—as part of a multiyear strategy to continue to increase the venue’s fiscal returns and prominence as a key element in the city’s growth as a national entertainment hub.
ASM Global has successfully operated the city-owned venue for the past 6-1/2 years (taking over management July 1, 2016). 2022 marked Desert Diamond Arena’s best financial performance in the past 17 years, highlighted by multiple sold-out events including Pearl Jam, Eric Church, Grupo Firme, Alan Jackson and two Billie Eilish concerts. 2023 is expected to surpass last year’s stellar fiscal record.
City leaders said they are excited about this announcement. “This agreement demonstrates that ASM Global, an internationally recognized leader in arena and venue management, is aligned with our belief about the tremendous future for our ever-expanding Sports and Entertainment District,” said Glendale City Manager Kevin Phelps. “Much of our recent success here in Glendale is that we have positioned ourselves together with high-impact, respected partners like ASM Global. It has an unparalleled international portfolio, including the most prestigious, iconic and successful venues. We look forward to seeing just how far this relationship will elevate and build on our goal to be recognized as one of the top sports and entertainment districts in the U.S.”
ASM Global’s President and CEO Ron Bension said, “We passionately believe in Glendale and Desert Diamond’s potential to live up to its name as a diamond in the entertainment sphere. The area’s track record of hosting spectacular events—like the Super Bowl—can grow even more to enrich the community. We’re looking forward to further leverage our worldwide expertise in this market.”
Utilizing its global relationships in content, programming, planning, technology, sustainability and guest safety, ASM Global will partner to fund renovation plans to enhance the guest, artist and athlete experience at Desert Diamond. The Glendale site is part of ASM Global’s network of more than 350 venues around the world that host 20,000 events and welcome 165 million guests every year.
HOK has been selected to help with the renovation and design.
As part of the new agreement, which includes a lease/buy option for ASM to exercise, the company plans to robustly leverage its anchoring of the adjacent $1 billion Westgate Entertainment District, formerly known as Westgate City Center, the super-regional, mixed-use development destination for shopping, dining, entertainment and commercial office space.
ASM Global has an unrivalled track record working with major cultural and entertainment districts and venues and projects including L.A. Live in Los Angeles, Darling Harbour in Sydney, OVO Arena Wembley in London and AO Arena Manchester.
“Westgate is an outdoor oasis and hub for nightlife as well as concert and game celebrations due to its proximity to State Farm Stadium and Desert Diamond Arena,” said Dan Dahl, director of real estate for YAM Properties. “Our property has seen tremendous growth over the past few years, and we’re excited that ASM will aid in its continued expansion.”
Desert Diamond Arena is home to the popular Professional Bull Riders Arizona Ridge Riders and currently hosts concerts and other entertainment acts throughout the year. Desert Diamond Arena has a seating capacity of 18,300 for basketball and about 19,000 for concert events. The arena has 3,075 club seats and 87 luxury suites.
PBR’s CEO, Sean Gleason, said, “PBR and Teton Ridge chose Glendale as the home of the Arizona Ridge Riders in large part due to our long-standing relationship with ASM Global. They have been an incredible partner over the years supporting hundreds of PBR events in venues they own or operate, and we knew the launch of the Arizona Ridge Riders would be successful with their support.”
Desert Diamond Arena has hosted numerous concerts and events of note since opening in December 2003. A string of concerts in the arena’s inaugural year included performances by Prince, Rod Stewart, Toby Keith, Britney Spears and Usher. Since then, more acts have performed there including U2, Elton John, The Rolling Stones, Paul McCartney, Bruce Springsteen, Rage Against the Machine, Billie Eilish, Kenny Chesney, Mötley Crüe, Justin Timberlake, Katy Perry, The Eagles, Taylor Swift, The Weeknd, Harry Styles, Celine Dion, Eric Church, Justin Bieber, Kendrick Lamar, Ed Sheeran, Shawn Mendes, Sam Smith, Bon Jovi, Khalid, Madonna, Pearl Jam, Red Hot Chili Peppers, John Mayer, Tim McGraw, Faith Hill, and For King & Country.
About ASM Global
ASM Global is the world’s leading producer of entertainment experiences. It is the global leader in venue and event strategy and management—delivering locally tailored solutions and cutting-edge technologies to achieve maximum results for venue owners. The company’s elite venue network spans five continents, with a portfolio of more than 350 of the world’s most prestigious arenas, stadiums, convention and exhibition centers, and performing arts venues. Follow us on Facebook, Instagram, LinkedIn and Twitter. asmglobal.com
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