NEC Completes Arena Funding

NEC Group announced that it now has the £29 million needed to refurbish Birmingham’s LG Arena.

Regional development agency Advantage West Midlands has confirmed it will grant £3 million toward redevelopment of the venue, formerly know as The NEC Arena.

It was renamed in September following a sponsorship deal with global electronics giant LG. Phase one of building work has now started – a new tower.

The creation of the 28-meter tower is part of the £14 million rebuild of the forum. This is the first major milestone in a project that’s aimed at creating what NEC Group describes as “a 21st century world class visitor attraction.”

Regional contractor GF Tomlinson Birmingham is managing the accelerated work programme, which will finish in June in time for the Rotary International Convention.

The sponsorship deal with LG will help support repayment of a £25 million loan provided by Birmingham City Council.
“I would like to thank AWM for this vital grant. It is wonderful news to have been awarded the final piece of funding needed for this exciting redevelopment,” said Phil Mead, NEC Group’s managing director of arenas.

“This month also marks an exciting first milestone in this vital project. With this work now under way, the reality of the LG Arena is one step closer.

“Increased revenue from the new LG Arena will also help protect the vital economic impact that The NEC Group creates in the region.”