![]() “We’re pleased to enter into exclusive negotiations with BDC to revitalise the Baltimore Arena,” said Oak View Group CEO Tim Leiweke. OVG is behind Climate Pledge Arena in Seattle UBS Arena in Belmont, New York Moody Center in Austin, Texas and Coachella Valley Arena in Palm Desert, California. The announcement is set to provide another addition to OVG’s burgeoning US arena portfolio. OVG has proven its reputation for innovation in the venue space, and we’re looking forward to working with them to bring Baltimore Arena and a myriad sports and entertainment opportunities, to life in Baltimore.” It is serving as OVG’s arena partner in the Baltimore project, with the two parties to fully fund the cost of the renovation.ĭurant and Kleiman said in a statement: “We’re thrilled that the Baltimore Development Corporation has selected our partners at Oak View Group for this groundbreaking renovation. ![]() Thirty Five Ventures is a venture capital firm founded by Brooklyn Nets NBA basketball star Kevin Durant and his business partner, Rich Kleiman. The project is hoped to serve as a key anchor on downtown’s west side and help drive further investment and development in the area. Royal Farms Arena opened in 1962 and BDC hailed the agreement as representing a “major milestone” in realising the City’s long-sought goal of having a state-of-the-art, modern arena in downtown. OVG was one of three respondents to a Request for Proposals (RFP) issued by BDC on behalf of the City of Baltimore. The agreement has been reached with Baltimore Development Corporation (BDC) and will allow OVG to negotiate a lease and management agreement for the City-owned arena. Oak View Group (OVG) has teamed up with Thirty-Five Ventures to be granted an Exclusive Negotiating Privilege (ENP) and Right of Entry agreement for a proposed $150m (£107.9m/€125.6m) redevelopment of Baltimore’s Royal Farms Arena.
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