Orange County Fair & Events Center will ink a 10-year deal to host Cirque du Soleil extravaganzas on its grounds in Costa Mesa, with five shows slated for production in that time.
The first is Luzia, a Mexico-themed event creation running Feb. 21 through March 18, for which tickets went on sale in August.
Ticket prices start at $50, the Cirque du Soleil website said.
An OC Fair & Events Center spokesperson said an agreement was in place for the first show at that time so ticket sales could begin; OCFEC’s board approved the 10-year deal today.
OCFEC said estimated total revenue from the show will be $350,000 from about 40 shows in the period.
The group said Cirque pays about $98,000 to rent the space, a figure which could change on future shows.
Other OCFEC revenue for the run includes 40% on VIP catering and all alcohol sales by Spectra, its master concessionaire, and parking fees.
Cirque du Soleil handles its own food service for shows’ general audiences.
Cirque du Soleil was last in OC in 2015, also at the fairgrounds, for 55 performances of Kurios, which brought OCFEC $541,000. Prior to that Cirque du Soleil, in 2010 and 2013, was held on Great Park land in Irvine.
Cirque du Soleil was founded by Canadian billionaire and high-stakes poker player Guy Laliberte in 1984. He sold most of the company for about $1.4 billion in 2015, retaining a 10% stake.
U.S. private equity firm TPG holds 55% and China-based investment firm Fosun 25%; Quebec-based pension fund manager Caisse de depot held a minority position at one point as well, news reports said.
Revenue is pegged at north of $800 million as are liabilities: the new owners took on about $885 million in debt and credit commitments as part of the buyout.
Cirque sells about 11 million tickets a year and employs about 4,000 people for shows in 40 countries, sources said. The company has produced a Broadway show, has worked with the NFL and Walt Disney Co., and plans a theme park in Mexico.
