Ariel Emanuel, through his newly formed company Mari, has finalized the acquisition of Frieze, which includes its publication, seven art fairs worldwide, and two exhibition spaces. The deal also encompasses tennis events like the Miami Open and Madrid Open, and a majority stake in Barrett-Jackson, a collector car auction house. The acquisition, first announced in May, was valued at around $200 million, with Goldman Sachs and LionTree Advisors serving as financial advisers. Mari, backed by $2 billion in equity from investors including Apollo, RedBird Capital Partners, and the Qatar Investment Authority, will be led by Emanuel alongside Mark Shapiro, with Simon Fox remaining as Frieze CEO.
This acquisition matters because it signals a major convergence of the art world with sports and live entertainment under a single corporate umbrella, reflecting a broader trend where experiences are increasingly valued over material goods. The deal comes during an uncertain art market and just before Frieze London and Frieze Masters, underscoring the strategic bet on live events and the growing integration of art, sports, and lifestyle sectors. The involvement of high-profile investors and the creation of Mari as a platform for experiential assets could reshape how art fairs operate and compete in a shifting cultural economy.