Mercedes-Benz Arena to be revamped for EURO 2024

Linkedin Twitter

Stuttgart Mercedes Benz Arena Image: asp / sbp

The 60,449-seat Mercedes-Benz Arena in Stuttgart will be upgraded for the EURO 2024 in Germany. In the near future, the lease payments of VfB will increase. Around 65 million euros will be raised for the upgradation work.

The Mercedes-Benz Arena will get 20 million euros in form of subsidy for the modernization work keeping EURO 2024 in mind. This declaration was made at an event held to present the draft budget of the city of Stuttgart. The stadium company on its own will take out a loan of 22.5 million euros. VfB Stuttgart will take over the remaining amount of around 65 million euros invested.

Mayor Thomas Fuhrmann has, however, made much higher claims, as per reports appearing in Stuttgarter Nachrichten. The financial support of the city is therefore also the VfB benefit.

The feel and appearance of the security and technical areas will be revised, the press box will be renewed and the area under the grandstand will be extended. For this purpose, VfB wants to restore and enlarge the business area. A clear picture has not emerged as to whether the club will raise the sum of 22.5 million euros from equity or through a loan.

The stadium company will have to clear the debt it is carrying of 58 million euros by 2041. The additional loan will be financed again by increasing the lease period. In the future, the club will have to lighten its wallet by paying 6.2 million euros – about one million more than before. Currently, VfB Stuttgart even pays only half to meet the shortfall after the relegation to the 2nd Bundesliga.

The Mercedes-Benz Arena is one among 10 stadiums picked up for hosting EURO 2024. Since its opening in 1933, the facility has been renovated several times, the latest one from 2008 to 2011. In 2017, the roof membrane was restored.

Continue to follow Coliseum for latest updates on venues business news. Coliseum is dedicated towards building the best global community of sports and entertainment venue executives and professionals creating better and more profitable venues.

Watch 150 member-exclusive videos with valuable tips for your venue

« Previous News:
» Next News:

More News

Sebastian Tobie on Coliseum Online EUROPE

eps international GmbH a name venues swear by

Published: May 10th, 2021

When it comes to executing live events, eps international GmbH, Germany is a name by which venue... » Read more

Texas Tech Athletics partners with Dynamic Pricing Partners

Texas Tech varsity’s ‘Dynamic’ move

Published: May 10th, 2021

Dynamic Pricing Partners (DPP), the best-in-class pricing, analytics and ticket distribution... » Read more

Twickenham to host Champions Cup and Challenge Cup finals

Rugby showpieces fall in Twickenham kitty

Published: May 10th, 2021

The Champions and Challenge Cup finals (rugby league) will take place at Twickenham Stadium in the... » Read more

IOC 2026 Milan Cortina Winter Olympics update April 2021

Milano Cortina 2026 focus on Olympic venues

Published: May 10th, 2021

The second International Olympic Committee (IOC) Coordination Commission meeting with Milano... » Read more

Receive global sports venue NEWS twice a week in your inbox