Henry Cardenas, the president and executive director of event and concert promoter Cardenas Marketing Network (CMN), has struck a deal to acquire the under-construction Arena Bogotá in Colombia.
The deal for the 24,000-seat venue, which is expected to open in the second quarter of next year, has been valued at more than $30m (£23.6m/€26.5m), according to Billboard.
The multi-purpose development, being built on a huge plot of land exceeding one million square feet, will host music concerts, sporting events and business conventions, whilst also offering restaurants, retail outlets, hotels and entertainment facilities.
The complex will have more than 2,500 parking spaces and the central arena itself will be “by far the country’s most modern major venue and the only covered arena even remotely approaching this size”, CMN said.
“There are some similarities with Arena Mexico, but even so there is none that has the qualities and grandiosity of Arena Bogotá,” Cardenas added. “As a way to compare the relative size, we can look to the American Airlines Arena in Miami, which has 17,000 seats, whereas Arena Bogotá will have 24,000.
“This great space gives us the flexibility to perform events and shows that we otherwise may not have been able to do. In short, the capacity of Arena Bogotá will be three times greater than any other arena that exists in Latin America.”
CMN’s offices are in Chicago and Miami, with Cardenas, a native of Colombia, having lived in the US since being a teenager.
Cardenas has set an optimistic target for the arena’s events schedule.
“For the first year of operations we plan to perform between 130 and 140 shows, which means about three events per week, including family events, corporate, live music and sports – for example, motocross, Olympic sports, indoor soccer, boxing, volleyball, tennis, basketball, eGaming, parades and equine events, among others,” Cardenas said.
The complex is about 60% complete, with the project being led by developers Guillermo Rincon and Jaime Sanabria.
Image credit: CMN
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