Len Blavatnik Takes Over The Theatre Royal Haymarket in Record-Breaking Deal
Forbes has reported that Sir Leonard Blavatnik's entertainment firm Access Entertainment has bought the Theatre Royal Haymarket earlier today. This marks the biggest deal for a British theater, which was formerly held by the sale of the Victoria Palace to Cameron Mackintosh in 2014.
"The United Kingdom is home to many of the world's most remarkable artistic talents," stated Blavatnik. "We are proud to be the new owners of the Theatre Royal Haymarket and will continue its long tradition of excellence," he remarked.
The theatre is in need of renovations, and given that they present mostly older plays with smaller audiences, it is not a steady income source. The theatre's profit peaked in 2016 with £431,107, when it housed Bradley Cooper in The Elephant Man. But, with several struggling shows in 2017, its operating profit fell to £55,967.
The landlord did not sell the theatre outright, it only offered what is left on the lease. There is no guarantee that it will be renewed in 2086.
Read more on Forbes.
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