Atlético Madrid Live Nation and OVG unveil 20000-plus arena plan

Atlético de Madrid, Live Nation and Oak View Group (OVG) have unveiled a plan to build a 20,000-plus capacity indoor arena next to the Riyadh Air Metropolitano as part of a wider entertainment, sport and education complex.The project targets the unfinished former Olympic Aquatic Centre site in Madrid’s San Blas-Canillejas district and is scheduled for completion by the end of 2030, with construction expected to begin shortly.Miguel Ángel Gil, Atlético’s chief executive, said: “We have spent nearly 15 years looking for a way to bring this site to life, convinced that it could become the city’s finest leisure and entertainment destination.“Our club has acted as the great integrator, uniting efforts and shared visions around a 400 million euro investment, and finding the pieces that complement and strengthen our Ciudad del Deporte.”The development will be delivered by Barsento, the joint venture between Atlético de Madrid, Live Nation and OVG, with the club positioning the scheme as complementary to its wider Ciudad del Deporte plans around the stadium.Plans centre on three pillars, led by an indoor music arena with capacity for more than 20,000 people aimed at concerts and large-scale live events.An education campus led by Grupo UAX is set to serve more than 2,300 students across higher education and vocational training, with programmes expected to cover areas including health and sports management and music and entertainment industry applications.A third component is a GOfit-managed sports centre designed for up to 9,000 users, including indoor and outdoor pools, adding a daily participation offer alongside event-led footfall.Madrid mayor José Luis Martínez-Almeida said the complex would be “one of the most important entertainment, culture, education and sport complexes in the world” and linked it to the broader stadium-area regeneration.Live Nation Spain president Pino Sagliocco said: “The project is a turning point for the city, reinforcing its position as a global music capital.”OVG chief executive Chris Granger said: “This venue is designed to become the central hub of a multifunctional project, capable of attracting global talent, boosting tourism and creating new opportunities for local businesses, while driving long-term economic impact.”The arena provides Atlético with an additional year-round events platform that can be packaged with premium, hospitality and sponsorship assets, while giving Live Nation and OVG a major new booking option in a high-demand touring market.