President and Chief Executive Michael Rapino has agreed to a new five-year deal to remain in the position at Live Nation.

According to details revealed by Live Nation, the deal includes a significant increase in compensation for Rapino, with an annual target payday of $30 million if performance metrics are met.

Rapino joined the group in 2005 and will have spent more than 20 years as its chief executive by the time his new contract expires in 2027.

“Rapino successfully steered Live Nation through two years of pandemic shutdown, emerging better positioned than ever and on pace for a record year in 2022 with over 100 million fans across 45 countries,” the company said in a statement. “Similar to past contracts, 90% of Rapino’s total compensation is tied to continued growth and delivery of shareholder value.”

The Pittsburgh Steelers announced that the new name of their home stadium will be Acrisure Stadium. Financial terms of the 15-year deal for the stadium were not released.

Acrisure is a Fintech which operates a top 10 global insurance broker. The company provides a broad array of AI-driven solutions across Insurance, Real Estate Services, Cyber Services, Asset Management and more to millions of clients. Notably, Acrisure has grown from $38 million in revenue to more than $3.8 billion in just over eight years and has rapidly expanded its global footprint.

“We are excited to partner with Acrisure for the naming rights to our stadium,” said Steelers President Art Rooney II. “Acrisure provided us with an opportunity to ensure our stadium continues to be a valuable asset for our fans as well as keeping up with the market value of NFL stadiums. We are very appreciative to partner with Greg Williams and his company, and we look forward to a long, beneficial relationship for years to come.”

“The Pittsburgh Steelers are an institution in American sports and a globally recognized brand. Partnering with the Steelers is the opportunity of a lifetime and a tremendous honor,” said Williams, Acrisure Co-Founder, Chairman and CEO. “Through Acrisure Stadium, we will increase awareness of the extraordinary advantage Acrisure brings our clients while conveying our strong sense of community. Relatedly, we are eager to invest in the Pittsburgh community and broader region as we chart our course to an unforgettable first season. This relationship truly embodies and aligns two organizations that have high standards and are determined to achieve great things.”

The stadium had been known as Heinz Field since it opened in 2001. The original deal was for 20 years and $57 million that was extended through the 2021 season. The company has said that it will continue to be a long-term sponsor at the stadium.

By R.V. Baugus

Oak View Group has announced Kim Stone as president of UBS Arena and executive vice president of OVG East Coast.

Stone will be based in Belmont Park, New York, and oversee all UBS Arena business and building operations. She will also be responsible for all OVG East Coast owned and operated properties, including Baltimore Arena, which is scheduled to open in February 2023. UBS Arena is the home venue for the New York Islanders.

“The opportunity to work with an innovative leader in Tim Leiweicke and build something special at UBS Arena and OVG is simply a dream come true,” Stone shared in an email. “It’s a rare gift to join a team that values diversity and is a positive disruptor in our sports and entertainment industry.”

Stone moved back to Miami last summer after opening Chase Center in San Francisco. For the past year she has worked again with the Miami HEAT as EVP of Human Capital and Special Projects. “I enjoyed the role, but this was too good to pass up,” she said.

She begins her new position on August and will report to both the board of managers of UBS Arena and Francesca Bodie, president of business development for OVG.

“I’m delighted to welcome Kim to the team and look forward to seeing her take UBS Arena to new heights as we continue to build stellar momentum at OVG,” Bodie said.

As part of her new role with OVG, Stone will oversee and implement the strategic plan for UBS Arena and its surrounding area, and drive profitability and ticket sales for all events.

“Kim is an excellent fit to lead our world-class organization at both UBS Arena and OVG East Coast venues and I’m thrilled to have her join the OVG team,” said Leiweke, chairman and chief executive officer of Oak View Group.

“The New York Islanders, as a partner in UBS Arena, are delighted and honored to welcome Kim Stone to our family,” said Scott Malkin, co-owner of the New York Islanders. “Her commitment to excellence, in every step of her career, sets the standard for our organization.”

Live Nation announced that Arizona Federal Theatre has a new name. Say hello to Arizona Financial Theatre.

According to a spokesperson for the entertainment venue located in Downtown Phoenix, “the new name reflects the broader change of the naming sponsor’s expansion of services across Arizona.”

“This small change in name marks a huge milestone for our institution as we continue to expand our financial support to the entire state of Arizona,” said Ronald L. Westad, president and CEO of Arizona Financial Credit Union, in a press release.

According to the press release, Arizona Federal Credit Union’s members voted to approve a change in charter last April, “switching the financial institution from a federally-chartered credit union to state-chartered.”

By Amy Procaccini

Sodexo Live!, the leading hospitality partner to the world’s most iconic venues, announced a new multi-year agreement with ASM Global-managed Norton Healthcare Sports & Learning Center (SLC), the Louisville region’s premier track & field facility. Part of the 24-acre Louisville Urban League Sports & Learning Campus, Norton SLC is also home to a range of local, regional, and national sporting competitions beyond track and field, as well as concerts and other large events. The Sodexo Live! team will develop a well-rounded menu of food and beverage offerings to ensure a best-in-class experience during every visit to the Norton Center.

“While the Norton Healthcare Sports & Learning Center proved to be one of the top indoor track & field facilities in the nation during its first year of operation, we’re lucky to have a flexible venue with ample space to cater to so much more,” said Eric Granger, General Manager, ASM Global Louisville. “With Sodexo Live!’s extensive background and proven success in managing events of all kinds, we knew they would be the best partner to provide next-level hospitality to our guests.”

“We are so excited for this partnership,” said Sadiqa Reynolds, President and CEO of the Louisville Urban League. “To have a global company like Sodexo Live! sign on to a community-led project in the west end says so much about what we are building here.”

The Norton Healthcare Sports & Learning Center is competitively positioned as one of the fastest indoor track facilities in the world and has proven that stance as numerous records were broken in the venue’s inaugural year. As one of only nine banked indoor track and field facilities in the nation, the venue has attracted some incredibly high-caliber athletes to compete since opening in February 2021, including world record holders, Olympic athletes, and some of the top collegiate and high school track & field athletes in the nation.

In addition to hosting track meets, the facility attracts nearly 100 concerts, meetings, community events and other sporting events annually. The Norton Healthcare SLC features 90,000 square feet of floor space with a 4,100 seat, 200-meter banked Mondo indoor track that lowers using hydraulics to provide more space. It’s also home to a 400-meter Humana Outdoor Track & Field Stadium, a four-lane mini-bowling alley, an interactive rock-climbing wall, and a multi-purpose space that is used for educational programming for the Louisville community.

In addition to Norton SLC, Sodexo Live! and ASM Global also provide hospitality and management respectively to Louisville’s neighboring KFC Yum! Center.

“The Norton Center is a wonderful space that produces events that are enjoyed as much by visitors from across the country as by the local community,” said Steve Pangburn, CEO, North America, Sodexo Live!. “We’re thrilled to launch this new partnership and work with their team to further elevate the overall guest experience.”

Amy Procaccini is Strategic Brand Communications Manager, Sodexo Live!