Prominent American business leader Ari Emanuel unveiled a new holding company, which will house many of Endeavor Group Holdings assets and live sporting events and experiences.
Emanuel, the CEO of entertainment and media agency Endeavor and TKO Group Holdings, announced his latest venture will operate under the name MARI. Arts organization Frieze and IMG’s portfolio of tennis events including the Miami Open and Madrid Open are under MARI's control. The new holding company will also hold a majority shared in automotive auction house Barrett-Jackson.
The Mubadala Abu Dhabi Open, Mubadala Citi DC Open and SP Open also makeup IMG's considerable tennis portfolio. Other major ATP tournaments such as the Japan Open and Rio Open fall under the company's management.
CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COM
Furthermore, the MGM Macau Tennis Masters, a tennis exhibition and invitational event, has been organized by IMG — a TKO Group Holdings subsidiary.
UFC TO DITCH PAY-PER-VIEW MODEL AS PART OF $7.7B MEDIA RIGHTS DEAL WITH PARAMOUNT
The newly formed company finalized the acquisition of Frieze and all other deals on Wednesday to coincide with MARI's launch.
TKO Holdings Group executive Mark Shapiro will serve on MARI's board and is also listed as a principal investor. Other key investors include, RedBird Capital Partners, Qatar Investment Authority, HSG, IMI media group, Ares Management funds and Dr. Patrick Soon-Shiong.
The Miami Dolphins ownership group, which is led by Stephen Ross, has also been tapped to join the coalition.
Craig Jackson, the founder and CEO of Barrett-Jackson, will remain in place.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
"Live events and experiences have never been more powerful," Emanuel said in a statement. "As people increasingly value experiences over things—and as hybrid work and AI give us more time to enjoy them—sports, art, lifestyle, and entertainment are becoming even more essential. At MARI, we’re building on the global impact of Frieze and the success of the Madrid and Miami Opens to create new ways for audiences to come together and share their passions."
