Venue development, advisory and investment company Oak View Group has been selected to lead the construction and operation of a new arena in the Austrian capital of Vienna.
OVG has been named as the ‘best bidder’ for the project following an 18-month process led by the City of Vienna’s Wien Holding company. The process was set up to identify a strategic partner capable of planning, constructing, financing and operating the arena.
OVG said the new arena will become the “best in continental Europe” and allow Vienna to compete with other worldwide capital markets and host more leading events.
The City of Vienna launched the planning process for a new arena in 2019 with the aim of creating a “must-play” destination for European music tours and major sporting events such as the Erste Bank ATP 500 tennis tournament, which already takes place in the city.
Read the full story on our sister site TheStadiumBusiness.com.