Goldenvoice has signed a long-term agreement with the Empire Polo Club in Indio, California, which will enable the promoter to stage additional festivals on the site.

The 642-plus acre desert oasis has been home to Goldenvoice’s Coachella Valley Arts & Music Festival since its inception in 1999, as well as its country music counterpart, Stagecoach, which first took place on the grounds in 2007.

The newly announced deal will see the AEG Presents subsidiary take over year-round operations at the festival site and polo fields, which are estimated to be worth US$80 million, according to local land records.

Additionally, the LA-based promoter and live events company is permitted to host two additional three-day events on the site every year, according to Billboard, prompting speculation that Desert Trip may return to the site after its debut in 2016.

“THE NEW LONG-TERM LEASE WILL ASSURE THAT THE ICONIC COACHELLA AND STAGECOACH WILL CONTINUE FOR MANY YEARS TO COME”

The deal also provides Goldenvoice oversight of the Empire Grand Oasis, a special event property in Thermal, California.

The Haagen Family, owner of the Empire Polo Club, says: “We are pleased to continue our long-term relationship with Paul Tollett and Goldenvoice. The new long-term lease will assure that the iconic Coachella and Stagecoach Music Festivals will continue for many years to come and allow Goldenvoice to expand their vast catalogue of musical acts on both of Empire’s properties. We wish the very best to AEG, Goldenvoice, and Paul Tollett with their future plans.”

Paul Tollett, president at Goldenvoice, says: “Goldenvoice has had a unique relationship with Empire Polo Club for over twenty-five years. It is a privilege to now take over the operations of the venue and we look forward to continuing to build upon the special history that has been established there. It’s immeasurable how much we’ve learned from Al Haagen.”

In August, Indio City Council extended its development agreement with Goldenvoice, allowing Coachella and Stagecoach to take place in the city until 2050. The promoter generates $3.5m for the city of Indio each year, according to city records.

Goldenvoice is one of the world’s biggest promoters; the company produces several festivals, including recently announced California Vibrations, operates 14 mid-sized venues and promotes over 1,800 shows per year.