Endeavor Considers Sale of Frieze Art Fairs

In a major shift, Endeavor Group Holdings, Inc., a global leader in sports and entertainment, has announced a strategic review that may lead to the sale of some of its most prominent event assets, including the world-renowned Frieze art fairs and the high-profile Miami Open and Madrid Open tennis tournaments. As part of its IMG portfolio, Frieze has earned a reputation as the foremost platform for modern and contemporary art, while the Miami and Madrid Opens are recognized as two of the most glamorous and well-attended events in professional tennis.

This review process follows Endeavor’s April 2024 agreement with Silver Lake, a private equity firm that will take the company private. With this transition, Endeavor seeks to streamline its portfolio, focusing on core assets while exploring new ownership possibilities for certain properties. The review excludes the TKO Group Holdings (comprising UFC and WWE) and the entertainment agency WME, signaling Endeavor’s commitment to retaining its premium sports and entertainment brands.

Mark Shapiro, President and Chief Operating Officer of Endeavor, commented on the potential sale, highlighting the success of the Miami Open, Madrid Open, and Frieze under the Endeavor umbrella. “As part of Endeavor, Frieze and the Miami and Madrid Open tournaments have each grown significantly, from Frieze launching successful fairs in Los Angeles and Seoul to the Miami and Madrid Opens setting year-over-year attendance and sponsorship records,” said Shapiro. “We are proud of this progress and confident that these unique assets are well-positioned for success in the future.”

Frieze: A Global Platform for Contemporary Art

Frieze has distinguished itself as a leading cultural institution, hosting premier art fairs in art capitals worldwide. Since its founding in 1991 with frieze magazine, the organization has expanded into seven high-profile art fairs in cities like London, New York, and Seoul. Each fair brings together celebrated artists, galleries, and collectors, offering a dynamic space for contemporary art discourse and fostering innovative cultural exchange. Frieze also supports year-round initiatives, including programs at No.9 Cork Street in London, and Frieze 91, which deepens engagement with audiences through curated events and art-viewing experiences.

The sale of Frieze could signal new opportunities for further global expansion under a different owner, potentially impacting the structure and reach of contemporary art events worldwide. Frieze's strong reputation, innovative programming, and cross-cultural impact would make it a compelling acquisition for buyers interested in the global art market.

Miami and Madrid Opens: Premier Events in the Tennis World

Alongside Frieze, Endeavor is considering the sale of the Miami Open and Madrid Open, two marquee ATP Masters 1000 and WTA 1000 tournaments. These combined men’s and women’s events have become known for their prestige, glamour, and competitive allure, with both tournaments consistently drawing record-breaking attendance and media viewership. The Miami Open, held at Hard Rock Stadium, is set against the vibrant backdrop of Miami’s thriving cultural and entertainment scene, while the Madrid Open, hosted at the Caja Mágica, has become a staple event on the clay court circuit.

The review, facilitated by The Raine Group, reflects Endeavor’s intention to optimize its offerings and explore growth potential in other areas. As the art and sports worlds eagerly watch, Endeavor remains open to the possibility of continued ownership if no viable sale aligns with the company’s strategic goals.

While no definitive timeline has been set for the conclusion of this review, and there is no assurance of a sale, the outcome could reshape ownership dynamics in both the global art and sports event landscapes.