Los Angeles-based sports and entertainment presenter AEG has formed a new division, AEG Global Partnerships, designed to expand the company's presence in sponsorships and naming rights sales. The new division is expected to generate $250 million in sponsorship revenue in 2008, according to AEG.
AEG Global Partnerships will work directly with corporate sponsors to maximize opportunities and exposure across the company's global assets, according to AEG president/CEO Tim Leiweke. Other divisions under the AEG banner include AEG Development & Real Estate, AEG Facilities, AEG Live and AEG Sports.
AEG Global Partnerships will be led by president Todd Goldstein. Shervin Mirhashemi will serve as COO. Since 2001, Goldstein and Mirhashemi have been instrumental in locking down numerous naming rights and sponsorship deals for AEG.
Along with servicing existing live events, franchises, music properties and new business developments, AEG will use its Global Partnerships division to form lucrative deals under AEG Facilities, which operates or consults numerous venues across the globe.
AEG Facilities oversees venues including the Staples Center (Los Angeles), Sprint Center (Kansas City, Mo.), Prudential Center (Newark, N.J.), El Rey Theatre (Los Angeles), Target Center (Minneapolis) and the O2 Arena (London), with additional projects in development.
Most recently, AEG has worked out sponsorship or naming rights deals for London's O2 Arena, Nokia Theatre Times Square, Nokia Theatre L.A. Live, the Sprint Center, and Denver's Mile High Music Festival powered by SanDisk, among other properties.
AEG Live has promoted tours by Justin Timberlake, Christina Aguilera, Bon Jovi, High School Musical, Prince, Hannah Montana/Miley Cyrus, Rod Stewart, the Eagles, Paul McCartney, Nickelback, Dixie Chicks, My Chemical Romance, American Idols Live and Dancing with the Stars, among others.
In related news, AEG has promoted two of its key executives. Dan Beckerman, who previously served as executive VP and CFO, becomes COO. Ted Fikre, who was executive VP and general counsel, has been promoted to chief legal and development officer. Beckerman and Fikre started at AEG in 1997.