BUCKS & PUCKS: SILVER LAKE FUNDS OAK VIEW GROUP

Tim Leiweke and Irving Azoff’s Oak View Group has received a strategic investment from tech investors Silver Lake to support OVG’s growth strategy. Currently, OVG is big on hockey.

OVG will be redeveloping Key Arena in Seattle, where an NHL expansion is scheduled to arrive, and will build an arena for the New York Islanders adjacent to the Belmont Racetrack.

“In less than three years, Oak View Group has made a significant positive impact on the sports and entertainment facilities landscape,” Leiweke said. “This deal with Silver Lake provides us with capital to continue to grow our business as well as invaluable expertise and relationships.”

Lee Wittlinger, Managing Director at Silver Lake, said, “We firmly believe that OVG is positioned to become a world-class franchise in sports and live events.”

Silver Lake has approximately $39 billion in combined assets under management and committed capital and a team of approximately 100 investment and value creation professionals located in Silicon Valley, New York, London, Hong Kong and Tokyo.