Oak View Group announces first international arena
Oak View Group (OVG) has partnered with Live Nation to build and run a new entertainment and sports arena in Milan, Italy.
The project is Oak View Group’s first venue development outside the US, and follows the launch of the company’s London-based overseas division, OVG International, at the ILMC in March.
OVG announced today it has signed a head of terms agreement with property companies Risanamento and Lendlease to construct and operate the new arena, which will be privately funded and located in Milan’s new Santa Giulia neighbourhood. Though no official figures have been released, IQ understands the venue could have a capacity of up to 17,000 for concerts.
The Santa Giulia Arena will provide a significant boost to Milan’s bid for the 2026 Winter Olympic and Paralympic games, and would host the Olympics’ ice hockey tournament, according to OVG co-founder and CEO Tim Leiweke.
“We’re delighted to announce our first European partnership, bringing a state-of-the-art entertainment facility to Milan,” Leiweke comments. “The new arena will be an exciting addition for the city and an important part of hosting what would be an inspiring 2026 Winter Olympics.
“Oak View Group and Live Nation have years of experience working together and are the ideal partners to deliver and run the Santa Giulia Arena.”
The Santa Giulia Arena will compete with the 12,700-seat Mediolanum Forum in Assago, near Milan, which has served the city since 1990 and is one of two Italian members of the European Arena Association (EAA).
“We look forward to announcing more European partnerships soon”
An older open-air venue, the 10,000-capacity Arena Civica, which opened in 1807, is also capable of hosting concerts, as is the 80,000-cap. San Siro stadium.
Oak View Group, a venue development, advisory and investment company co-founded by former AEG CEO Leiweke and ex-Live Nation chairman Irving Azoff, launched in 2015.
In addition to arena development projects at the Key Arena in Seattle, Belmont in New York and the University of Texas in Austin, OVG runs the Arena and Stadium Alliance, an invitation-only association of of 28 arenas in the United States.
It also has a venue-management outfit, OVG Facilities, launched in 2017 following the acquisition of Pinnacle Venue Services, and a security arm, Prevent Advisors, and owns industry trade titles Venues Today and Pollstar, the latter which it bought the same year.
“We’re looking forward to working with Risanamento and Lendlease as part of their major regeneration project,” adds Leiweke, “and to announcing more European partnerships soon.”
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