New 20,000-capacity arena set for Madrid

Article posted by Coliseum, April 23^rd, 2026

Image: Oak View Group

Atlético de Madrid, Oak View Group (OVG) and Live Nation are teaming up to build a 20,000-capacity arena on the site of the former Olympic Aquatics Center in Madrid.

Access All Areas said that the Barsento JV believe the venue will breathe new life into the unfinished Aquatic Center building, with the plan to transform it into one of Europe’s most significant multifunctional event complexes.

The multi-functional complex, construction on which will begin shortly, will be built around three pillars: an indoor music arena with a capacity of more than 20,000 people, an educational campus for 2,300 students led by Grupo UAX, and a sports center managed by GOfit with capacity for 9,000 users.

The project, expected to be completed by 2030, is part of an urban development scheme involving the area surrounding the 70,000-capacity Riyadh Air Metropolitano stadium.

Club Atlético de Madrid, commonly referred to as the Atlético Madrid or simply Atlético and colloquially as Atleti, is a Spanish professional football club based in Madrid (Spain) that plays in the LaLiga, the highest level of the Spanish football league system. The club play their home games at the Riyadh Air Metropolitano Stadium which has a capacity of 70,692.

The Metropolitano Stadium, also referred to as the Riyadh Air Metropolitano Stadium for sponsorship reasons, is a football stadium in Madrid, Spain, located in the Rosas neighborhood in the San Blas-Canillejas district. It has been the home stadium of the Atlético Madrid since 2017.

Mayor of Madrid José Luis Martínez-Almeida said the new venue would be a unique space that, together with the Ciudad del Deporte being developed by Atlético de Madrid, will hugely benefit the city.

He said, “This project will become a defining hallmark of Madrid and will give all its residents access to culture, sport and education in a world-class environment.

“Madrid is already a great music capital, and Live Nation’s commitment to investing and growing here is proof of that. Together with OVG, whose expertise and track record will be instrumental in making this venue a success, we have the opportunity to become a major global music hub.”

Atlético de Madrid CEO Miguel Ángel Gil said, “We have spent nearly 15 years looking for a way to bring this site to life, convinced that it could become the city’s finest leisure and entertainment destination.”

Live Nation Spain president Pino Sagliocco said, “The project is a turning point for the city, reinforcing its position as a global music capital.”

Oak View Group CEO Chris Granger added, “This venue is designed to become the central hub of a multifunctional project, capable of attracting global talent, boosting tourism and creating new opportunities for local businesses, while driving long-term economic impact.

“Together with our partners, we are committed to creating unforgettable experiences for fans, artists and the broader community.”

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