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Finance

ASM Global eyes expansion in youth sports sector with EDGE investment

Featured image credit: ASM Global

ASM Global has invested in Boston-based EDGE Sports Group as part of plans to expand its presence in the youth sports and sports tourism sectors.

Financial terms of the deal were not disclosed, but ASM Global said its “significant” investment in EDGE Sports signifies a strategic move to become the leading provider of advisory, development and venue management services for the youth sports and tourism industry.

After the transaction’s close, the company will operate under the banner of EDGE Sports Global.

EDGE Sports was founded in 2016 by Brian and Denise DeVellis and comprises a portfolio of more than a dozen sports venues in the New England region. The company currently has ongoing development projects in Florida, Arizona and other locations across the US.

EDGE manages more than two million square feet of playing surfaces and tenant spaces including ice hockey, indoor and outdoor turf, hard courts, aquatics, and sports performance training facilities.

ASM Global said its collaboration with EDGE will represent one of the largest unified platforms of sports facilities in the US. EDGE also owns a range of youth sports clubs, academies and camps.

Ron Bension, ASM Global chief executive and president, said: “We see extraordinary synergies with our pre-eminent collection of stadiums and arenas, and collegiate and pro sports partners. ASM venues have hosted four of the past five NCAA Men’s Basketball Final Four events, and we will host our third consecutive Super Bowl in 2025 at the Caesars Superdome in New Orleans. It is a natural fit for ASM to expand more deeply into the youth and community sports sectors, and EDGE Sports was the perfect strategic partner.

“This strengthens our capabilities to serve our existing and new clients, and to create a positive impact on the communities and families we serve. I am incredibly excited to be joining forces with Brian and Denise DeVellis, who are true industry pioneers.”

Brian DeVellis added: “We are thrilled to be part of the ASM team. Blending EDGE’s expertise in family-oriented athletic facility development and operations with ASM’s international scale and expertise in sports and entertainment is a powerful combination.

“EDGE Sports develops and operates best-in-class venues, and we pride ourselves on cultivating incredible sports experiences for youth and families. These are the future participants and fans of sports at all levels. The resources and operating network of ASM will only strengthen our now combined efforts, as we continue to rapidly expand our portfolio and innovate the ways in which we serve our clients and communities.” 

Venues that will be operated by ASM Global that are currently under construction include a new multi-purpose arena in Henrico County, Virginia and the Kai Tak Sports Park complex in Hong Kong.