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CTS Eventim To Build 16,000-Capacity Arena In Milan
Courtesy of CTS Eventim – MSG Arena Milan, Italy.
Rendering.
CTS Eventim announced that it will plan, build and operate a new arena in Milan, Italy. Construction of the MSG Arena is scheduled to begin in autumn 2022 and be completed in autumn 2025.
The entire project is estimated to cost €180 million. “The arena will initially be made available to the International Olympic Committee for the Winter Games at the beginning of 2026. After that, CTS EVENTIM will continue operating the venue. Agreements to this effect were signed today between CTS EVENTIM AG & Co. KGaA and the project company Milano Santa Giulia S.p.A.,” the announcement states.
CEO Klaus-Peter Schulenberg said, “This is where our expertise in the management of top venues and live entertainment comes into its own.”
– CTS Eventim.
CEO Klaus-Peter Schulenberg.
Offering space for 16,000 people indoors, the building will also feature an outdoor area of more than 10,000 square meters for open-air events. Facilities will also include “two multi-storey car parks for 2,750 vehicles,” acceding to the announcement.
An Eventim Group project company based in Milan will acquire a 50,000 square meter plot of land in the south-east of Milan, where MSG Arena will be constructed. It is part of the Milano Santa Giulia urban development project, which includes offices, housing and retail units across 120 hectars, not far from Milan’s city centre.
The arena is supposed to further expand CTS Eventim’s position in its second-largest market behind Germany, and increase the importance of the Milan as a touring destination for national and international entertainment and sporting events.
It will be located in the middle of Italy’s economically important region of Lombardy, well connected to the surrounding area via motorways and public transport. In terms of revenue, Italy is CTS Eventim’s second largest market after Germany. Before the start of the coronavirus pandemic, the region generated around €271 million in the ticketing and live entertainment segments in 2019, according to the company’s own figures.
CTS Eventim has long-standing experience in the management of multipurpose arenas for up to 20,000 spectators through the operation of venues such as the LANXESS Arena in Cologne, Germany, the EVENTIM Apollo in London, England, or the K.B. Hallen in Copenhagen, Denmark. The company portfolio also includes the Tempodrom and the Waldbuehne in Berlin, Germany.
Klaus-Peter Schulenberg, CEO of CTS Eventim, commented: “Our work as venue operators is one of the outstanding success stories of CTS Eventim. We are very much looking forward to this new project, which will enable us to bring our expertise in the management of top international venues and the live entertainment business to bear.
“Our new arena in Milan will be a must-play for all major tours, and we will also be able to offer top events from the Eventim portfolio to the region around Milan and beyond in our own arena through the four Italian promoters in our Eventim Live promoter network. This is another excellent addition to our value chain.”
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