If you build it, they will come — especially when it costs half a billion dollars.
Oak View Group, a California-based development and investment firm, agreed to a joint venture partnership with City Football Group, the owner of Premier League champion Manchester City F.C., to build Co-op Live, a stadium that’s set to be one of the most advanced venues in the world.
The $495 million indoor music and entertainment arena will sit next to City’s stadium in Manchester.
Co-op secured naming rights to the venue last year in a 15-year deal worth as much as $125 million. Grammy-winning artist Harry Styles took a minority stake in the venue, which will open in December 2023 at the earliest.
Co-op Live is one of several venues Oak View plans to open in the coming years.
- June: Climate Pledge Arena – home of new NHL’s Seattle Kraken ($1 billion)
- Fall 2021: UBS Arena – future home of the New York Islanders ($1.5 billion)
- Spring 2022: Moody Center – multipurpose arena at the University of Texas ($338M)
- Fall 2022: Coachella Valley Arena – multipurpose arena near Palm Desert, Calif. ($250M)
- TBD 2022: Savannah Arena – a multipurpose arena in Savannah, Ga. ($165M)
Oak View and City Football want to make Manchester a global sport and entertainment destination.
“We can push the boundaries by creating a magical intersection of sports, community, and entertainment,” said Oak View CEO and co-founder Tim Leiweke.