AEG Facilities has had its application to run Wembley Arena approved by the UK’s Competition Commission. The completion of the 15 year deal with owner Quintain Estates and Development plc sees AEG increase its offering of live entertainment and sport in London in top venues along with its five-year contract for outdoor concerts and events in Hyde Park.
On the announcement, Rod O’Connor, Executive Vice President, AEG Facilities, Europe said:
Wembley Arena holds a special place in the hearts of music and live entertainment fans. It enjoys fame on a global scale and we are delighted to welcome it into our portfolio of elite and iconic venues and to have the opportunity to support it with our experience in operating many of the world’s most successful live events venues.
Quintain’s Wembley Park estate is currently undergoing a remarkable transformation and we are proud to be a part of a development that will not only benefit fans, but also the local community. This deal marks a new chapter in Wembley Arena’s illustrious history and we are committed to delivering the very best experience for fans, artists and partners.
Purchased by Quintain in 2002 as part of a deal in which it bought 44 acres of former exhibition lands around the old Wembley Stadium, Wembley Arena sits at the heart of Quintain’s ongoing project to revitalize Wembley Park with the creation of new shops, homes and leisure facilities. The agreement with AEG will attract many more live events and people to the area who will enjoy the world famous venue alongside other new attractions including the new 4* Hilton London Wembley Hotel, which opened last July, and the London Designer Outlet – the first of its kind within the M25 – which will open on October 24th.
James Saunders, Chief Operating Officer at Quintain, said:
This is fantastic news for Quintain and for London, the biggest market place in the world for live music. AEG is the world’s leading venue operator and we look forward to AEG bringing the world class content, world class customer experience and the operational expertise they have demonstrated at The O2 to the iconic and much loved Wembley Arena. The new partnership with AEG comes at an important time for Quintain, just 8 weeks before we open London’s newest retail destination next to Wembley Arena – London Designer Outlet. We can now offer visitors to the Arena a much more rounded experience with shopping, dining and even a stay overnight at the Hilton London Wembley. The two attractions combined should drive over 8m visitors a year to the Wembley Park area, creating jobs and many new exciting opportunities.
AEG’s application to run Wembley Arena was passed to the Competition Commission in March and then provisionally cleared in July before receiving the final approval in September.