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June 23, 2022 • 19 minutes ago • 4 minutes read • Join the conversation A new Senators arena is planned for the mostly free LeBreton Flats. NCC / FILE
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On Thursday, the Ottawa Senators were revealed as the preferred bidder for the arena plot at LeBreton Flats. The team also announced that it is partnering with Live Nation, Sterling Equities, Tipping Point Sports and Populous to build an arena on the site. Here is a brief description of US-based companies that will play an important role in building the new arena for Ottawa senators.
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Development of projects by Jeff Wilpen and Stirling
Jeff Wilpon, 60, is the executive vice president of the family-based New York-based Sterling Project Development Company.
In 1980, Wilpen’s father, real estate mogul Fred Wilpen, bought a one-percent stake in the New York Mets. From 2002 to 2020, the Wilpons were the majority owners of the National League team until they sold their stake to hedge fund manager Steve Cohen for $ 2.4 billion.
During Wilpons ‘tenure, Jeff oversaw the construction of Mets’ new ball park, Citi Field, in Flushing, New York, arriving on time and smaller than budget.
But Wilpons’ mandate as majority owners was difficult.
This is how the history of the New York Times describes the years of Wilpon in the history of 2019.
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“At their best, the Wilponi family, self-created multimillionaires from the surrounding neighborhoods of the city, shone like generous philanthropists who occasionally broke the bank for a star player. At worst, they were a quarrel, a disorganized clan with a baseball team that fans considered incompetent and frugal and functioning as vanity for the family’s descendant Fred Wilpon and his eldest son Jeff, who led a team with mostly disappointing results since 2002. г.
The same story describes Jeff as “aggressive and hot-tempered.” Jeff, who as a father had a short career as a professional baseball player, was accused of being a micro-manager who interfered too much in the club’s operations.
Jeff Wilpon also owns New York Excelsior, a team of professional video gamers.
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The Wilpons were notable investors with convicted fraudster Bernie Madoff, reportedly losing $ 700 million in Madoff’s pony scheme.
Stirling was also a partner in the new NY Islanders Arena, UBS Arena.
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Turning point sports
Tipping Point Sports advertises itself as a “boutique sports finance and consulting firm.” Based in Cherry Hill, New Jersey, Tipping Point and its chief executive, Mitchell Zeits, list the NHL’s Florida Panthers as clients he has advised on building new arenas with the Cleveland Cavaliers and the Detroit Pistons of the National Basketball Association.
The Tipping Point website says Ziets “plays a critical role by providing financial advice to both teams and municipalities looking to build arenas and stadiums.” This advice includes such things as due diligence, a public-private partnership strategy and the negotiation of development agreements.
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His clients include the Cleveland Cavaliers, the Detroit Pistons and the Florida Panthers in the arena. Elsewhere, Zeats served as Chris Hanson’s financial strategist for the development of a new arena in downtown Seattle. In Phoenix, he provides investment banking services to the Coyotes as they explore the construction of a new arena. In Auckland and San Diego, he provides financial advice in efforts to build new NFL stadiums in these two markets. In the Bay Area, his client is the city of Auckland. In San Diego, he is helping JMI Realty, while Chargers is offering a stadium in the center associated with the expansion of the convention center.
Crowded
Populous is a global architectural design firm that has built arenas such as the Climate Pledge Arena for the Seattle Kraken, the T-Mobile Arena for the Las Vegas Golden Knights, the Videotron Center in Quebec City and Tottenham Hotspur Stadium in London, England. Established in 2009, Populous has developments in 34 countries around the world.
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A living nation
Live Nation Entertainment was founded in 2010 by merging Ticketmaster and Live Nation and is the largest event organizer in the world.
Its president is Canadian Michael Rapino, who was born in Thunder Bay and was named president and CEO of Live Nation in 2005 and continues to serve in Live Nation Entertainment after the merger.
After graduating from Lakehead University, Rapino began his career promoting small Canadian performers and later worked in sales and marketing for Labbatt Breweries.
Live Nation Entertainment opened an office in Ottawa in 2017 and brought hits to the city such as Justin Bieber in March and Maroon 5 in August. It also sponsors music festivals such as the Escapade, which takes place this weekend in Lansdowne Park.
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After nearly two grueling years for the concert industry due to the COVID-19 pandemic, Live Nation recovered in late 2021, hosting 17,000 concerts for 35 million fans, mostly in the United States and the United Kingdom.
The industry recovered even more this year, with more than 70 million tickets sold, an increase of 36% compared to 2019, which the company attributes to the accumulated demand for live concerts.
Live Nation also hosts events in the lucrative field of mixed martial arts.
It is considered the “leading live entertainment company in the world”, hosting 40,000 shows a year, more than 100 festivals and selling half a billion tickets worldwide.
The company is headquartered in Beverly Hills, California, and has 44,000 employees. Live Nation Canada is based in Vancouver.
Also: Ottawa Senators win an arena offer in downtown LeBreton Flats
with files from Bruce Garioch
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