Category Archives: News

CAA Sports Acquires Strategic Management Consultancy Barrett Sports Group, Launches CAA Icon

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2000 AVENUE OF THE STARS
LOS ANGELES, CALIFORNIA 90067
TELEPHONE: (424) 288-2000 • FACSIMILE: (424) 288-2900

LOS ANGELES (September 25, 2017) – CAA Sports, a division of leading entertainment and sports agency Creative Artists Agency (CAA), today announced that it has acquired Barrett Sports Group, LLC (BSG), a boutique strategic management consulting firm that provides venue advisory, valuation, and transaction due diligence services for public and private sports and entertainment facility owners/operators, professional franchises, and leagues. Founded by sports industry expert Daniel S. Barrett, BSG will combine forces with CAA Sports’ industry-leading owner’s representative and project management firm, ICON Venue Group, becoming part of CAA ICON.

CAA ICON consists of the Venue Development Group, previously operating as ICON Venue Group, and the Strategic Advisory Group, formerly BSG.

With a portfolio of many of the most successful venues throughout the world, CAA ICON’s Venue Development Group provides public and private sector clients comprehensive facility development services to guide a project from conception through planning, design, construction and opening. CAA ICON executives have managed the development of home venues for NFL, NBA, NHL, MLB MLS, MLL, AFL, CHL, NBDL, DEL and BBL franchises, totaling more than $8 billion. The company was recently named the Owner’s Representative for the Golden State Warriors’ new Chase Center; Las Vegas Raiders’ new Las Vegas stadium; AS Roma’s new sports and entertainment complex in Rome; and Madison Square Garden’s new Las Vegas venue. Tim Romani, Founder and CEO of ICON Venue Group, which was acquired by CAA Sports in 2016, will guide the efforts of CAA ICON.

“CAA and ICON Venue Group are known for impeccable client services, and creating the CAA ICON brand enables us to expand upon the incredible reputation we’ve collectively created in our industry as we continue to offer best-in-class services for our current and future clients,” said Romani. “We are thrilled to add BSG’s services into the CAA ICON umbrella and know that this will allow us to continue providing an even greater range of accountable, objective, and trusted services.”

BSG was founded by Barrett in 2000 to provide strategic consulting services to the sports and entertainment industry across a broad range of areas, including market demand analysis; financial feasibility analysis; economic impact analysis; project finance; valuation; negotiations; operations; transaction due diligence; politics; and strategic planning. Barrett brings more than 27 years of experience in planning, financing, developing, and operating sports, entertainment, and real estate projects, in addition to expertise in the valuation of major and minor league sports teams and facilities, and acquisition/disposition advisory services, to CAA ICON’s Strategic Advisory Group. Barrett and his team have worked on more than 1,000 projects in the sports industry.

“The BSG team is very excited to join CAA Sports and ICON. The services that CAA Sports and ICON offer complement BSG’s core competencies, and will allow us to provide additional services and continuity to our clients,” said Barrett. “We look forward to continuing to provide objective, independent strategic advice to our clients as part of CAA ICON.”

CAA Sports is a diversified sports enterprise with global operations encompassing 17 divisions, including property sales, consulting, corporate hospitality, media rights, and athlete representation. CAA Sports’ award-winning Property Sales and Corporate Consulting arms represent such renowned properties as Formula 1, Red Bull Racing, FC Barcelona, NCAA, Madison Square Garden, USTA, Drone Racing League, and Riot Games’ League of Legends, the eSports industry-leader, in addition to three dozen global brands, including Bose, JPMorgan Chase, Jaguar Land Rover, New Era, Tissot, and Intel, respectively. Replicating its domestic U.S. success overseas, CAA Sports has furthered its reach and resources across the U.K. and Europe through complementary acquisitions and the establishment of key offices.

The agency continues to execute on its accelerated growth plan, and most recently announced that it had launched CAA China, a world class entertainment and sports platform, formed in partnership with CAA and CMC, to create opportunities for CAA and its clients within the burgeoning sports industry throughout Greater China.

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ABOUT CAA SPORTS

The five-time recipient of the award for “Best in Talent Representation and Management,” presented by the Sports Business Journal, CAA Sports represents more than 1,000 of the world’s best athletes in such sports as baseball, football, hockey, basketball, soccer, tennis, Olympics and action sports, and golf, in addition to coaches, on-air broadcasters, and sports personalities. Beyond traditional athlete representation, CAA Sports provides unique opportunities for clients off the field, in areas including licensing, endorsements, speaking, philanthropy, books, and video games. CAA Sports also works in the areas of broadcast rights, corporate marketing initiatives, and sports properties for sales/sponsorships, for which the agency won “Best in Property Consulting, Sales, and Client Service” at the 2016 Sports Business Awards.

CAA Sports is a division of leading entertainment and sports agency Creative Artists Agency (CAA). CAA represents the most creative and successful artists working in film, television, music, theatre, video games, and digital content, and provides a range of strategic marketing services to corporate clients. For more information about CAA Sports, visit sports.caa.com.

CONTACT

Beth McClinton, CAA Sports, 424 288 2000, Beth.McClinton@caa.com

Mercedes-Benz Stadium Opens

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Mercedes-Benz Stadium, the new home of the Atlanta Falcons and Atlanta United FC, officially opened. CAA ICON Strategic Advisory was retained by the Georgia World Congress Center Authority (GWCCA) to evaluate various stadium options, including market feasibility, financial feasibility, financing alternatives, deal structure, and other tasks.

MLS2NASHVILLE

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CAA ICON Strategic Advisory has been hired to provide strategic consulting services in connection with a proposed MLS expansion team in Nashville, Tennessee.

Golden 1 Center Wins Sports Facility of the Year

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The Golden 1 Center won the 2017 Sports Facility of the Year, awarded by the SportsBusiness Journal and SportsBusiness Daily. CAA ICON Strategic Advisory assisted the City of Sacramento in negotiations with the NBA, prepared a financing plan for the project, and completed a market and financial feasibility study for a new downtown arena.

Cleveland City Council Approves Arena Renovations

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Cleveland City Council voted to approve an estimated $88 million in public funding as part of the $140 million Quicken Loans Arena renovation project. CAA ICON Strategic Advisoryprovided consulting services to Gateway Economic Development Corporation of Greater Cleveland in connection with the Cleveland Cavaliers lease extension.

Best of Manhattan Beach Awards

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CAA ICON Strategic Advisory (formerly Barrett Sports Group, LLC) has been selected for the 2017 Best of Manhattan Beach Award in the Business Management Consultants category by the Manhattan Beach Award Program.

State of Wisconsin DOA

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CAA ICON Strategic Advisory has been hired by the Wisconsin Department of Administration Capital Finance Office on behalf of the Wisconsin Center District (WCD) to provide an independent, objective evaluation of the current management and operations of the WCD facilities, including a convention center, arena, and theater.

NFL Raiders

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CAA ICON Strategic Advisory has been hired by the Raiders to evaluate the market demand for the potential relocation of the Raiders to Las Vegas, Nevada.

Major League Soccer

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Barrett Sports Group, LLC has been hired by Major League Soccer to evaluate the market demand and financial feasibility of the Austin, Texas market to serve as the home of an MLS team.

Golden 1 Center Opens

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The Golden 1 Center, the new home of the Sacramento Kings, officially opened. Barrett Sports Group, LLC assisted the City of Sacramento in negotiations with the NBA, prepared a financing plan for the project, and completed a market and financial feasibility study for a new downtown arena.

Confidential Developer

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Barrett Sports Group, LLC has been hired to evaluate the market and financial feasibility of a potential new arena located in a master planned real estate development project.

City of San Antonio

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Barrett Sports Group, LLC has been hired to evaluate the market and financial feasibility of a potential new Triple-A baseball stadium and complete an evaluation of Triple-A stadium leases.

Columbus Crew SC

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Barrett Sports Group, LLC has been hired to evaluate the market demand and financial feasibility for the potential development of a new soccer-specific stadium in Columbus, Ohio and complete an evaluation of MLS stadium leases.

City of Albuquerque

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Barrett Sports Group, LLC has been hired to complete a market demand study regarding a potential renovation of the Fran Hill Exhibit Hall at the Albuquerque Convention Center.

Pasadena Approves Music Festival Plans

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The Pasadena City Council approved plans to hold the Arroyo Seco Music and Arts Festival at the Rose Bowl and neighboring Brookside Golf Course. Barrett Sports Group, LLC served as lead negotiator and strategic advisor to the Rose Bowl Operating Company and assisted in the evaluation of proposals from multiple promoters.

Broward Approves BB&T Center Amendment

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Broward County approved a comprehensive amendment to the NHL Florida Panthers license agreement to provide financial assistance to the struggling team. The amendment provides direct investment in the operations and ongoing maintenance of the County-owned BB&T Center, while providing the County with real estate development rights and unprecedented financial protections. Barrett Sports Group, LLC served as an advisor to the County and was its lead negotiator.

Children’s Mercy Hospital Buys Naming Rights

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Barrett Sports Group, LLC provided strategic advisory services to Children’s Mercy Hospital in connection with the negotiation, valuation, and structure of a comprehensive naming rights and sports medicine partnership with Sporting Kansas City Major League Soccer (MLS) team.

State of Wisconsin DOA

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Barrett Sports Group, LLC has been hired by the Wisconsin Department of Administration Capital Finance Office on behalf of the Wisconsin Center District as the chief project manager, financial advisor, and negotiator in connection with the Milwaukee Bucks New Arena.

St. Louis Stadium Task Force

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Barrett Sports Group, LLC has been hired to assist the St. Louis Stadium Task Force (Governor’s Office) and their consulting team in its efforts to develop a stadium plan and retain the National Football League (NFL) St. Louis Rams.

City of Savannah

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A consulting team led by Barrett Sports Group, LLC has been hired to assist the City of Savannah in evaluating the market and financial feasibility of a new arena. The consulting team will also evaluate alternative options associated with the existing civic center, including an arena and theater.

Broward County

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Barrett Sports Group, LLC has been hired to complete a series of studies and provide negotiating services to support Broward County in its ongoing negotiations with the NHL Florida Panthers.

San Antonio Spurs

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Barrett Sports Group, LLC has been hired to evaluate a variety of alternative acquisition opportunities to assist the parent company of the San Antonio Spurs diversify its sports and entertainment portfolio.

City of Sacramento (NBA)

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The National Basketball Association (NBA) Board of Governors unanimously approved the sale of the Sacramento Kings to a group led Vivek Ranadive. Barrett Sports Group, LLC played an instrumental role in negotiating and structuring a deal for the development of an Entertainment and Sports Center (ESC) and the redevelopment of the Downtown Plaza. The ESC was a key element in the NBA’s review of the proposed transaction. The change in ownership ended years of speculation regarding the potential relocation of the franchise.