Allianz named title sponsor of Richmond amphitheater

Allianz Partners will be the naming sponsor for Richmond’s forthcoming 7,500-capacity, $30 million outdoor amphitheater, the global insurer announced Tuesday.

The Allianz Amphitheater at Riverfront, a project led by Charlottesville’s Red Light Ventures and Live Nation, is expected to open next year in time for the summer concert season, according to the announcement. The amphitheater is the first new major concert venue in Richmond in decades, and is set on four acres near the banks of the James River, near CoStar’s Richmond campus and Tredegar.

“We are thrilled to be a part of bringing this exciting new entertainment venue to the Richmond community,” Jeff Wright, CEO of Richmond-based Allianz Partners USA, said in a statement. “Our leadership team, along with the hundreds of our associates who live and work in Central Virginia, eagerly anticipate opening night and many future summers filled with incredible music against the backdrop of our beautiful city.” Financial terms of the deal were not disclosed.

The amphitheater’s expected to host 30 shows a season and generate $30.6 million in economic impact annually, as well as creating 300 jobs, according to the announcement. Red Light Management, founded by Coran Capshaw, represents dozens of major music artists, including Dave Matthews Band, Chris Stapleton, Sabrina Carpenter and others.

Capshaw also developed the Ting Pavilion on Charlottesville’s Downtown Mall and owns the Jefferson Theater, also in Charlottesville. He founded Starr Hill Presents and Musictoday, which concert promoter Live Nation purchased in 2006, but Capshaw reacquired the entertainment marketing company in 2017 after a later purchaser went bankrupt.

“We’re excited to have Allianz Partners join us as we bring a new destination for live music to downtown Richmond,” Capshaw said in a statement.