OVG’s US$150m Royal Farms Arena to host UFC, NCAA and tennis

  • OVG to increase capacity to 16,000
  • Redevelopment to be part-funded by Kevin Durant’s Thirty Five Ventures

US venue development and management firm Oak View Group (OVG) has begun work on its US$150 million renovation of Baltimore’s Royal Farms Arena.

The revamped Royal Farms Arena will host a range of sporting events, including the Ultimate Fighting Championship (UFC), the National Collegiate Athletic Association (NCAA), and tennis, as well as National Basketball Association (NBA) exhibition games.

The redevelopment of the publicly-owned arena is being funded by OVG, with additional backing from Thirty Five Ventures, the investment firm founded by NBA star Kevin Durant and his business partner Rich Kleiman. The Baltimore Development Corporation (BDC) economic development agency is also working on the project.

Once complete, the capacity of Royal Farms Arena will increase from 14,000 to 16,000, with OVG aiming for the renovation project to be signed off by February 2023. The venue refurbishment plan also includes new suites, terraces, refurbished concession areas, as well as upgrades to internal electronics and lighting.

Convenience store chain Royal Farms has held the venue’s naming rights since 2014, reportedly paying US$250,000 annually over an initial five-year term. According to Front Office Sports (FOS), OVG is currently looking for a new partner to take the rights.

Source link

Leave a Reply

Your email address will not be published.