Bold plans to build two huge new concert venues in ‘high priority location’ London have been unveiled by the live entertainment giant which co-owns Manchester’s Co-op Live. The ambitious proposals to be ‘bigger and better’ in London would cost of around £1.5bn.
Speaking to City AM, Oak View Group (OVG) chief executive Tim Leiweke revealed plans for up to two arenas are currently being considered. The venues would be more expensive than the £450m OVG and City Football group shelled out to build Co-op Live in Manchester and would also be larger than that arena – which is currently the largest in the UK.
In April 2024, Leiweke revealed he was considering building a glitzy venue Hammersmith, arguing the capital is underserved by its current entertainment options. Leiweke said: “I think we will see in the next 12 months a commitment to spend well over another £1.5bn in the UK on new arenas.
“We certainly think London will have to be bigger and better and more expensive. It is London, and things cost more down there. We get it.
“We continue to be focused on a long-term vision for London. I would do a fairly aggressive bet that we have another arena or two in us, in the UK in the near future. I think London is still a high priority.”
Co-op Live has a total capacity of 23,500 and has hosted concerts by the likes of Elbow, Paul McCartney and Liam Gallagher. In comparison, The O2’s capacity in London stands at 20,000.
Leiweke is the former president and CEO of Anschutz Entertainment Group (AEG) whose UK venues include The O2 in London. While at AEG, Leiweke was responsible for The O2’s transition from the ailing Millennium Dome to become an iconic venue.
Links to David Beckham and whether he’ll part of London plans
AEG also owns the Los Angeles Kings, the Los Angeles Galaxy, part of the Los Angeles Lakers and the L.A. Live entertainment complex. It was Leiweke who helped Los Angeles Galaxy sign David Beckham from Real Madrid in 2007.
Asked whether Beckham might be tempted to invest in a new arena in London, Leiweke said: “So David and I are always working on ways to work together. He’s off chasing some dreams, including the new football club [Salford City] that him and Gary [Neville] are involved in.
“We will have partners in London in that arena, for sure. One of the things we’ve done is we have partners in every arena we built.
“I’m not sure if that would be good news for David [if he invested], but we continue to have a good relationship with Becs, and I’m a big fan of what he’s done in Miami.”
Developer not put off by MSG Sphere plan collapse
The possible plans for at least one new major indoor arena for London come after a bid for the landmark MSG Sphere London was withdrawn in January 2024. Madison Square Garden Company (MSG) initially put forward the development in 2018 but the scheme was rejected by London Mayor Sadiq Khan and the project was halted.
Asked whether he was worried about taking on the planning system in the capital, Leiweke said: “No because It’s not going to light up like an airport runway at night. Everyone tried to make the Jim Dolan and MSG people aware you’re going to have to think about the neighbourhood.
“If you look at the remarkable success of Co-op Live – you don’t hear a negative outcry in this community. We’ve honoured and upheld our agreements and so we haven’t experienced any of that.
“I’m not trying to preach to anybody about how to build things, but you’ve got to understand your neighbourhood when you go into a planning process. We understand London. We’re proud that we had a history with the O2 and getting that built. I get how to get arenas built in London.”
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