HOK Sport Venue Event goes it alone

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HOK Sport Venue Event, the world's leading sports architecture firm, is to be spun out of parent company HOK Group to form an independent company and brand by the end of 2008.

HOK Sport Venue Event, the world's leading sports architecture firm, is to be spun out of parent company HOK Group to form an independent company and brand by the end of 2008. "Both practices are enjoying the strongest financial and operational positions in their history, " HOK Group CEO Patrick MacLeamy said, explaining the move. "This strategic step will facilitate the continued growth and leadership of both HOK and HOK Sport Venue Event within their respective markets. "An employee–owned firm with 26 regional offices on four continents, HOK Group posted $631m in revenue in 2007, up nearly 32% from $479m in 2006. HOK Sport reported $154m in 2007 billings, up 22% from $126m in 2006. HOK Sport Venue Event has been a part of HOK Group for 25 years and has operated independently as a wholly–owned subsidiary since 2000. The companies claim that the buyout will have no impact on clients or projects of HOK or HOK Sport Venue Event, and both practices will continue to collaborate on projects where their combined expertise will benefit the client and project. HOK Sport has designed stadia for 30 National Football League franchises and 24 Major League Baseball franchises in the US. But after two Minnesota projects are finished–the HOK–designed Twins stadium in 2010 and the new Vikings stadium that HOK and rival firm Ellerbe Becket are competing for–no more major–league baseball or football projects are on the horizon. However, with HOK Sport being a leading designer of minor–league, collegiate and international sports facilities, the company is bullish about its future as a standalone entity. HOK Sport also specialises in convention centres, which account for 10% of its design work, and the company is attracting attention for its new emphasis on 'green' projects.

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