Ari Emanuel’s Mari snaps up IMG action sports portfolio from Endeavor

IMG’s action sports portfolio includes US Open of Surfing and Nike Melbourne Marathon

Mari bought IMG tennis tournaments last month

Company has reportedly raised more than US$2bn

Ari Emanuel’s new events and experiences company, Mari, has acquired two more businesses previously owned by Endeavor Group Holdings.

Mari has purchased IMG’s arts and entertainment portfolio and action sports events portfolios. The latter includes properties such as the US Open of Surfing and the Nike Melbourne Marathon, expanding Mari’s presence in mass-participation athletic events.

Buying IMG’s arts and entertainment portfolio also brings marquee assets such as Hyde Park Winter Wonderland, which welcomes more than three million visitors each holiday season, and the global Taste Festivals culinary series, headlined by Taste of London.

Financial terms were not disclosed. Akin Gump Strauss Hauer & Feld acted as legal adviser and Goldman Sachs and LionTree Advisors acted as financial advisers to Mari in connection with the transaction

Mari said the acquisitions expand its scale and reach, aligning with its goal to build a leading global network of events and experiences.

Emanuel, Mari’s founder and principal investor, commented: “From London’s iconic Hyde Park Winter Wonderland to Taste Festivals worldwide, Mari’s growing presence across Europe, North America, Asia, and Australia furthers our ambition to build a global portfolio of cultural, lifestyle, and sporting events that connect millions of people through live experiences.”

Mari launched last month to house multiple assets acquired from sports and entertainment giant Endeavor, including the Madrid Open and Miami Open tennis tournaments.

Mari also houses the Abu Dhabi Open, the Washington DC Open, the SP Open and several other exhibition tennis events. Other companies under the Mari umbrella include arts organisation Frieze, in addition to a majority stake in automotive auction house and lifestyle brand Barret-Jackson.

Although Mari houses IMG’s tennis portfolio, the company will focus more on cultural events, with TKO Group Holdings, the holding company of the Ultimate Fighting Championship (UFC) and World Wrestling Entertainment (WWE), having first pick of any deals in the sports space.

Emanuel, the executive chairman of WME Group and chief executive of TKO, has raised more than US$2 billion in equity for Mari, according to Bloomberg.

Endeavor has been divesting its assets after it was acquired by private equity firm Silver Lake in March in a transaction that took the company private and saw Emanuel move on as chief executive. Prior to the Mari deals, TKO completed its purchase of IMG, On Location, and Professional Bull Riders (PBR) from Endeavor in late February.

Endeavor also sold sportsbook technology firm OpenBet to OG Global Holdings LLC, which is backed by Emanuel.

Earlier this week, Sportradar closed its acquisition of the IMG Arena betting and sports data business from Endeavor.

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