The NFL’s long-term Super Bowl tickets license to On Location Experiences won’t be renegotiated because of TKO’s acquisition of the company from Endeavor , a source familiar with the terms said. Also, the NFL won’t own any part of OLE after these deals. It will be paid out for its stake in Endeavor, a relic of its original 100% ownership of On Location, when Silver Lake’s go-private acquisition is completed .
When talk of Endeavor’s divestments and going private first peaked around the Super Bowl, I speculated in February that the NFL could use its Super Bowl ticket license -- the backbone of On Location's business -- as a means of influencing the ultimate buyer. But that analysis was mostly predicated on an assumption that an On Location would be a totally new entity, not TKO, which shares key executive leadership (and their close ties to NFL owners and execs) with Endeavor.
