It was announced today that Live Nation has been selected as the preferred bidder to deliver the new 15,000 capacity Cardiff arena. The planned new venue will attract more than one million visitors to the area as well as creating thousands of local jobs, and is estimated to generate more than £100m for the community economy annually. Live Nation will deliver this project in collaboration with Oak View Group, and Robertson as the developers. The venue will cost around £150m to build, with Live Nation and Oak View Group both investing £10m.
“We look forward to working in partnership with Cardiff Council to bring this ambitious vision to life over the next few years. Our combined experience in the delivery and operation of facilities of this nature will result in a world-class facility that will bring economic benefits to the entire region, both during its construction and for many years to come once it’s open” a spokesperson for the developer and operator consortium (Live Nation, Oak View Group and Robertson) said.
The next phase of the planning process will be underway next year and will see the wider community given the opportunity to see the exciting proposals for the site. There will be a strong focus on sustainability and creating employment opportunities in the Cardiff area, which will ensure that residents and the wider local community benefit from this project.
About Live Nation Entertainment
Live Nation Entertainment (NYSE: LYV) is the world’s leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, and Live Nation Sponsorship. For additional information, visit www.livenationentertainment.com.
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