Live Nation has agreed a deal to acquire the La Défense Arena in Paris, France from current owner Ovalto.
And IQ Magazine said that once the agreement has been concluded, Live Nation will launch a major upgrade programme that will enable the multipurpose arena to host significantly more productions year-round.
The plans are aimed at attracting leading domestic and international artists to the venue, the largest arena in Europe, reinforcing the French capital’s position as a global live entertainment destination and bringing major benefits to the region.
The 30,681-capacity Paris La Défense Arena is the home stadium of Racing 92 and is an indoor rugby stadium (and a performance hall), but its dimensions, 156 m long, 160 m wide, its ceiling height (42 m) allow for planning. It opened on October 16, 2017 and is located in Nanterre, Paris, France.
Racing 92 is a French rugby union club based in suburban Paris that was formed in 2001 with the collaboration of the Racing Club de France and US Métro.
Live Nation France MD Angelo Gopee said, “Our ambition is simple: to make Paris La Défense Arena a venue that welcomes more productions, with the finest facilities for artists, all event producers and promoters and, above all, the audience.
“This ambition is rooted in a strong commitment to local inclusion, education and cultural access – ensuring major live experiences drive local development and inspire younger generations.”
Since opening in 2017, the 45,000 capacity Paris La Défense Arena has hosted performances by artists including Bruce Springsteen, the Rolling Stones, Kendrick Lamar, Taylor Swift, Hans Zimmer and Dua Lipa, as well as sporting events such as the Olympic Games, the Tour de France and the Rolex Paris Masters.
Ovalto president Jacky Lorenzetti said, “Paris La Défense Arena will be able to leverage the full expertise Of Live Nation, the global leader in entertainment, to continue its development.
“In just 10 years, we have made Paris La Défense Arena a unique venue in Europe with a solid business model. Today, a new chapter begins for the arena and its employees.
Live Nation joins the existing network of major French venue operators alongside LDLC Arena, Accor Arena and Stade de France.
Frédéric Longuépée, president of Paris La Défense Arena, added, “Ovalto has created a venue that has become unique in Europe in less than ten years.
“The arrival of Live Nation promises exciting new opportunities for our clients, employees, and partners, whose support has been crucial in making the arena the icon it is today.”
Live Nation, which will continue to organise shows across all venues and welcome all promoters to Paris La Défense Arena, says the venue’s increased capacity will create more opportunities for event producers, artists and fans.
Completion of the transaction is subject to approval by the French Competition Authority.
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