Arena Events Group PLC New multi-year contract (3882J)
August 23 2021 - 1:00AM
UK Regulatory
TIDMARE
RNS Number : 3882J
Arena Events Group PLC
23 August 2021
23 August 2021
Arena Events Group plc
("Arena", the "Company" or the "Group")
New multi-year contract
Further to the announcement made on 26 April 2021, Arena Events
Group plc (AIM: ARE), the integrated event solutions business, is
pleased to report that its recently acquired US subsidiary, Arena
Aztec Shaffer (AAS), based in Houston, Texas, has agreed to a new
multi-year contract with Championship Management, a division of the
PGA TOUR. The agreement, which runs until May 2023, covers the same
scope of events as previously served by AAS, with pricing adjusted
to reflect current market conditions.
The significant majority of the historical revenues of the
previous Shaffer part of the business had come from golf,
supporting in excess of seven tournaments a year including the
Players Championship and the Presidents Cup. Shaffer originally
signed a contract with Championship Management in 2000, which was
renewed in 2008, 2012 and 2017. Prior to Arena's acquisition of
Aztec Shaffer, the multi-year long term contract with Championship
Management had been replaced by a short term amended contract up to
the end of May 2021 and extended again through to the end of
December 2021.
Greg Lawless, Chief Executive Officer of Arena commented:
"I am delighted that the team at Arena Aztec Shaffer and
Championship Management have been able to agree to a new contract.
This reflects the continued strong delivery of events by the team
at AAS since we acquired our stake in the company in April and
allows all parties to plan for a busy upcoming golf calendar,
including the Presidents Cup in 2022. With a strong trading
performance since we made the acquisition, this agreement further
supports the rationale for our investment in AAS."
Enquiries:
Arena Events Group plc
Greg Lawless (CEO) Via Alma
Steve Trowbridge (CFO)
Cenkos Securities (Nomad and Broker) +44(0)207 397 8900
Derrick Lee / Max Gould (Corporate Finance)
Julian Morse (Sales)
Alma PR (Financial PR) +44(0)203 405 0205
Josh Royston, John Coles, Helena Bogle
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END
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