VIRGINIA BEACH, Va. (WVEC) -- United States Management (USM) said Tuesday that Los Angeles-based AEG Facilities, a division of AEG, "the leading sports, venue, and entertainment company in the world," would manage and operate USM's proposed arena at the Oceanfront.

USM is approaching the closing of financing the 18,000-seat arena which is slated to hold entertainment and sporting events.

“The more we surveyed the field of major operators, it became clear to us that AEG Facilities, because of their corporate diversity, vast network of services, ownership or sponsorship of sports franchises, renown touring artists and special events, were clearly the best choice for us in Virginia Beach,” said Andrea Kilmer, President and CEO of USM. “In addition, AEG has a local presence because they purchased the Norva in downtown Norfolk in 2014 and established a regional office there, run by two legendary local promoters, Bill Reid and Rick Mersel.”

AEG Facilities manages or consults with more than 120 venues on five continents.

Among the venues: STAPLES Center in Los Angeles, Barclay’s Center in Brooklyn, the new T-Mobile Arena in Las Vegas, and The O2 in London, which has been the world’s number one arena for nine consecutive years since it opened in 2007.

AEG also is a leading concert promoter. It owns the LA Kings (NHL) and the LA Galaxy (Major League Soccer).

The contract signed by USM includes pre-opening support by AEG Facilities Global Solutions.

USM has an agreement with the City of Virginia Beach to build the multi-purpose arena across from the Virginia Beach Convention Center on 19th Street.