Company History:

 

Comcast-Spectacor follows “Blueprint” of Growth and Success

Comcast-Spectacor, the Philadelphia-based sports and entertainment firm, has built an impressive, synergistic organization from a “blueprint” it created for owning and operating sports franchises, managing public assembly facilities and providing sports programming for regional cable television.

“Our blueprint for success starts with Ed Snider's vision,” said Comcast-Spectacor Ventures President Peter Luukko. “Ed's objective has always been to bring all of our resources, both current and future, together to benefit all of our entities. It is a proven winner.”

At the helm of it all is Ed Snider, Comcast-Spectacor Chairman, who in 1967 sought a National Hockey League expansion franchise to play in Philadelphia. Snider mortgaged his home to acquire the franchise rights and created the Philadelphia Flyers. In 1972, Snider took the Spectrum out of bankruptcy paying 100 cents on the dollar and took control of the facility.

 

His Flyers captured the Stanley Cup in 1974 and again in 1975, becoming the first expansion team to win the coveted trophy. The Flyers today continue to be among the NHL's top franchises in points, as well as season tickets and revenues.

With the Spectrum as America's Showplace in the early 1980s, Snider created Spectacor Management Incorporated (later to become SMG). He joined his company with Aramark and the Hyatt Corporation as equal partners to create SMG. In 1997, Snider sold his interest in SMG to his partners and sat out a two-year no-compete clause before starting Global Spectrum in 2000.

In 1996, Snider created Comcast-Spectacor by forming an outstanding partnership with cable powerhouse Comcast Corporation, also a Philadelphia company. In doing so, he created a new sports and entertainment venture that included the Philadelphia Flyers, the Spectrum, the soon-to-open Wachovia Center (now Wells Fargo Center), the Philadelphia 76ers and created a new 24-hour regional sports programming network, Comcast SportsNet. Snider and his new venture also acquired an


American Hockey League franchise to play at the Spectrum, while the Flyers moved to the, then new, Wachovia Center (now Wells Fargo Center).

 

As Snider continued to expand Comcast-Spectacor, he appointed Luukko, then President of the Complex, to become President of Comcast-Spectacor Ventures for new business development for Snider and Comcast-Spectacor.

In early 2000, Comcast-Spectacor purchased Globe Facility Services, which was created and headed by Michel Sauers, a former executive with SMG and an employee of Snider's at the Spectrum. The new venture was named Global Spectrum and was designed to bring the resources and expertise of Comcast-Spectacor to other public assembly facilities. Soon after re-entering the public assembly management field, Global Spectrum increased its contracts by nearly 500 percent.

Many of Global Spectrum’s top management, who account for more than 200 years of industry experience, are considered the founding fathers of private facility management.

 

Luukko, who also serves as Chairman of Global Spectrum, quickly acquired Leisure Food Services and renamed it Ovations Food Services. He also purchased three minor league baseball teams in Maryland to further expand the business into minor league sports.

 

Ovations Food Services offers clients over a century of food service management experience with specialty catering and fine dining. As a Comcast-Spectacor company, Ovations Food Services works independently from Global Spectrum but can also work together with the management firm to create a synergy that maximizes benefits for the client.

 

In an effort to find additional revenue for facilities and their owners, Comcast-Spectacor offers Front Row Marketing Services, the industry’s leading firm for creating, identifying and selling new revenue streams at facilities.

 

In July of 2003, Comcast-Spectacor acquired New Era Tickets and renamed the company Patron Solutions. The company specializes in providing innovative technological solutions for box office management, event management and customer communications.

 

What has made Comcast-Spectacor so successful has been its ability to vertically integrate all of the resources of its entities, as well as those supplied by its parent company Comcast Corporation, to create synergistic opportunities to grow its business.

The Budweiser Events Center at the Ranch, in Larimer County, CO, is the first venue to fully utilize all of the entities under the Comcast-Spectacor umbrella: Front Row Marketing Services is selling sponsorship opportunities and premium seating, Global Spectrum is managing the facility; Ovations Food Services is providing food and beverage concessions and Patron Solutions is the ticketing company for the facility.


Comcast-Spectacor and Global Spectrum opened 10 new venues in 2002-03.

 

“This is a very exciting time for our company,” said Luukko. “As we continue to grow our business, our goal is to remain focused on our accounts and ensure the best quality service possible for our clients and our customers.”

 

Global Spectrum utilizes the resources of Comcast-Spectacor to maximize its relationships within the concert and family show industry to bring the finest in sports and entertainment to the region. Global Spectrum also works closely with Comcast-Spectacor to schedule preseason basketball games featuring the 76ers and the Flyers at its facilities.

 

The “blueprint” that Snider created for Comcast-Spectacor is being implemented in Global Spectrum’s plans for its accounts. It has proven to be a winner in Philadelphia, now the company will make it a winner throughout the industry.

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