Boston-based sports consulting firm Elevate has acquired Fenway Sports Management’s Consulting Group and will add its roster of clients and employees to its own. The deal brings together two staffs that complement each other, with Elevate being particularly strong in data and insights while Fenway excels in experiential live activations with brands. The acquisition will allow Elevate to scale faster, bringing its total number of offices across the globe to 12 cities in six countries.
The consulting group from Fenway, which has nine employees, will now be part of Elevate Brand, which launched in 2021 with the hiring of chief client officer Cameron Wagner. This is a big deal for both companies as it builds on the success they have had with Wagner’s group on their brand consulting efforts. Other bidders for the Fenway business included Allied Sports and Playfly.
Sponsor spending in sports has soared coming out of the COVID-19 slowdown. PwC estimates the market will hit $109 billion in 2030, up from $63 billion in 2021. Wagner says this acquisition will allow Elevate to scale faster and bring together two staffs that complement each other perfectly. Over the past three years, Elevate Brand has activated client campaigns for numerous properties such as the English Premier League, Formula 1, men’s and women’s World Cups, NASCAR, PGA, NBA, MLB, and NHL among others. Revenue has tripled during this time period alone.
Fenway Sports Management was founded in 2008 by Tom Werner and includes a variety of businesses including Fenway Entertainment Group (FEG), which operates the iconic Fenway Park stadium where the Boston Red Sox play baseball; FSG Productions; FSG Design; FSG Studios; FSG Digital; FSG Media & Entertainment; FSG Rentals; FSG Apparel Company; and many more subsidiaries under their umbrella. With this acquisition by Elevate Brand
