German Bundesliga football club RB Leipzig has agreed a deal to purchase Red Bull Arena and plans to expand the stadium’s capacity to about 57,000.
The announcement yesterday (Thursday) ended speculation over a stadium move for RB Leipzig, which was only formed in 2009 and is currently enjoying an impressive debut season in the top-tier Bundesliga, sitting in second place.
Financial details of the club’s agreement with Michael Kölmel, the current owner of the arena, were not disclosed, but the LVZ newspaper reported that the deal will be worth €70m (£60m/$73m).
The agreement covers the purchase of the stadium’s main and adjoining facilities as well as the bell tower. The deal is subject to approval from the city of Leipzig and the relevant authorities.
"We are very pleased that the open and fair discussions with Prof. Dr. Michael Kölmel could be concluded… in a successful and positive way for both sides,” RB Leipzig chairman Oliver Mintzlaff said. “The decision is a clear signal for our fans… as well as the city of Leipzig. Now it is up to the city to agree to the sale and to make a positive decision on our building request. "
Expansion work is due to get underway in 2018, with LVZ reporting that the renovation will cost €40m.
RB Leipzig had reportedly been considering a move to a new stadium in northern Leipzig, but yesterday’s announcement secures the club’s long-term future at Red Bull Arena.
The arena, which staged five games during Germany’s hosting of the 2006 Fifa World Cup, has a current capacity of around 42,500.
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