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New Entity 'Crown Properties Collection' to Manage
Global Partnerships Portfolio for Premier Assets Including
Sphere, MSG Entertainment's Venues and Live Entertainment Properties, and
MSG Sports' Professional Sports Teams
Jay Voelker to Lead New Entity as President
LOS ANGELES and NEW YORK, Sept. 7, 2023 /PRNewswire/ -- In a groundbreaking move that will establish the first global partnership company of its kind, Madison Square Garden Entertainment Corp. (NYSE:MSGE) ("MSG Entertainment") and Sphere Entertainment Co. (NYSE:SPHR), (together "the MSG family of companies"), and Oak View Group ("OVG"), today announced the founding of Crown Properties Collection ("CPC"). CPC is a new entity that will, in conjunction with MSG Entertainment and Sphere Entertainment Co., manage marquee partnerships with sports and entertainment brands and venues worldwide. This innovative endeavor brings together the MSG family of companies – a world leader in live entertainment and sports – and OVG – the leading full-service live entertainment and hospitality group in the world and the largest developer of sports and entertainment venues. With this announcement, industry veteran Jay Voelker will join OVG as president to lead CPC.
Oak View Group, MSG Entertainment and Sphere Entertainment today announced the founding of Crown Properties Collection.
The OVG-led entity will represent the most important brand assets in the sports and live entertainment industry. In addition to being founding partners, MSG Entertainment and Sphere Entertainment will also serve as CPC's first clients, with CPC overseeing the global partnership and sponsorship representation of all brands and properties across the MSG family of companies, including Sphere (which opens in Las Vegas on September 29), Madison Square Garden, Radio City Music Hall, Beacon Theatre, The Chicago Theatre, New York Knicks, New York Rangers, MSG Networks, the Radio City Rockettes and the Christmas Spectacular. Global partnership sales and strategy will be managed by CPC, while the MSG family of companies will provide expertise and advisory services to CPC, as well as retain partnership activation and fulfillment – leveraging the companies' well-established track record in successfully developing and executing unique partnerships with the world's leading brands.
"Crown Properties Collection's purpose is to provide unprecedented global representation for world-renowned sports and entertainment brands and venues, and there is no greater portfolio to begin with than the MSG family of companies' world-class assets. I am honored to join OVG, the leading full service live entertainment and hospitality company to represent CPC and create a new model for global partnerships in our industry," said Jay Voelker.
"The alliance of our two global powerhouses through Crown Properties Collection will revolutionize the partnership space across the sports and entertainment industries," said David Hopkinson, President and Chief Operating Officer of MSG Sports, who oversees global marketing partnerships across the MSG family of companies. "We're honored that our iconic brands will be the first to be represented by CPC and that, together, we will be on the forefront of creating game-changing opportunities for our venues, teams, and brands."
"Under Jay's leadership, Crown Properties Collection will represent only the most valuable properties in all of sports and entertainment together with the most revolutionary venue in the world, Sphere in Las Vegas. This, along with OVG's already industry-leading Global Partnerships platform, which has proudly sold $4.5B in partnerships over the last five years, will create the largest partnership of its kind in the live industry and change the game for partnerships as we know it," said Tim Leiweke, chairman and CEO of OVG.
Before joining the company, Voelker served as senior vice president of business development for the PGA TOUR where he oversaw the TOUR's global sponsorship business. Voelker will report directly to Leiweke and assume his new role effectively immediately.
Artwork is available for download, here.
