A New Chapter for the World’s Leading Contemporary Art Fair
In a major shake-up of the global art world, Frieze, the powerhouse behind some of the world’s most prestigious art fairs and its namesake magazine, has been sold to a new events and experiences company founded by Ari Emanuel, the Hollywood mogul and former CEO of Endeavor Group Holdings.
The sale, reportedly valued at $200 million and set to close in the third quarter of 2025, marks a pivotal moment for Frieze and the broader contemporary art landscape. The acquisition includes all seven Frieze fairs—including those in New York, London, Los Angeles, Seoul, Chicago, and the Armory Show—alongside its respected editorial platform and No. 9 Cork Street gallery in London.
“Frieze Has Always Been a Source of Inspiration”
Emanuel, known for his influential role in media and entertainment, has maintained a long-standing relationship with Frieze, having helped acquire a stake in the organization in 2016 through Endeavor.
“Frieze has always been a source of inspiration for me—both professionally and personally,” Emanuel stated. “Having worked with the team for nearly a decade, I’ve seen firsthand the strength of their community and the ambition driving their mission to expand the reach and understanding of contemporary art.”
He continued, emphasizing his vision for the future:
“Frieze is well positioned for further growth and represents a strategic cornerstone in our new global events platform.”
A Seamless Transition Amidst Market Challenges
The sale comes just ahead of Frieze New York, which opens May 7 at The Shed with 67 galleries exhibiting. The timing is critical, as the global art market faces a downturn. According to the Art Basel and UBS “Art Market 2025” report, total art sales fell 12% in 2024, down to $57.5 billion. Despite this, Emanuel’s acquisition is seen by many as a stabilizing move.
“This is a stabilizing buyer,” said Alexander Gray, a New York gallerist and Frieze London selection committee member. “The model of the art fair is one that some disrupters might think is disruptable, but this is not the market climate for any disruption.”
Continuity and Leadership Commitment
A key component of the deal is the retention of Frieze’s leadership, including CEO Simon Fox, who will remain at the helm.
“This news marks an exciting new chapter for Frieze,” said Fox. “Our commitment to quality—and to supporting the arts community—remains at the heart of what we do. With the support of new ownership, we’re well placed to accelerate our creativity, collaboration, and growth.”
This continuity ensures that while ownership changes, the core values and direction of Frieze remain consistent.
Strategic Backing and Future Plans
Emanuel’s new company, which has yet to be named, is backed by an influential consortium of investors, including Apollo Global Management and RedBird Capital Partners. These firms bring extensive experience in private equity and media investments, further signaling robust backing for Frieze’s continued growth.
While the current deal does not include the Miami and Madrid Open tennis tournaments—which were also part of broader discussions—Emanuel is reportedly still interested in acquiring them as part of his emerging global events portfolio.
Frieze’s Global Expansion and Cultural Footprint
Founded in 1991 by Amanda Sharp, Matthew Slotover, and Tom Gidley, Frieze began as a magazine before expanding into art fairs, starting with Frieze London in 2003. Over the past decade, especially under Endeavor’s ownership, the brand expanded aggressively:
- Frieze Los Angeles launched in 2019
- Frieze Seoul debuted in 2022
- Expo Chicago and The Armory Show were acquired in 2023
The publication and event group now stands as one of the most globally recognized and respected names in contemporary art.
Restructuring at Endeavor and the Bigger Picture
This sale is also part of a larger sell-off strategy by Endeavor, following its $25 billion go-private acquisition by Silver Lake in March 2025. Emanuel stepped down as CEO shortly after, but his involvement with Frieze persisted.
The entertainment conglomerate, now rebranded as WME Group, is shedding what it calls “non-core assets,” and Frieze was one of the largest among them. Emanuel received a cash payout of $175.8 million and retained $290.3 million in equity rollover as part of Silver Lake’s buyout—funds that likely supported this latest acquisition.
“With deep experience in the cultural and creative industries, and a strong personal connection to Frieze, [Emanuel] brings both vision and continuity to the business,” Endeavor said in a statement.
Legal and Financial Advisors Behind the Deal
The sale was facilitated with heavyweight financial and legal advisors on both sides:
- Endeavor was advised by Latham & Watkins LLP, with The Raine Group and BDT & MSD Partners as financial advisors.
- Emanuel’s buying consortium was advised by Akin Gump Strauss Hauer & Feld LLP, Goldman Sachs & Co. LLC, and LionTree Advisors LLC.
What This Means for the Art World
The sale of Frieze to Ari Emanuel represents a fusion of business acumen and cultural stewardship. As the art market navigates uncertainty and global economic shifts, Frieze’s new ownership under one of the entertainment industry’s most strategic minds suggests a stronger integration of art, media, and global event management.
With Emanuel’s leadership, investors’ backing, and Simon Fox’s continued guidance, Frieze seems poised not just to weather the current market downturn—but to emerge as an even more influential force in the global art economy.
“Frieze is well positioned for further growth,” Emanuel reiterated. “It represents a strategic cornerstone in our new global events platform.”
Image Courtesy – Variety
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