ASM Global has entered the Italian market for the first time after being selected to oversee the development and running of the new 6,000-seat Cantù basketball arena.

The venue management and services company will co-manage operations and run the commercialisation of the venue, which will be the home of Lega Basket Serie A (LBA) team Pallacanestro Cantù.

The €15.5m two-tier facility, which is set to be completed in late 2023, will host indoor and outdoor training facilities for the basketball club, and provide structural flexibility to allow for other sports and events, including expos, fairs, conventions and corporate gatherings.

The project is backed by Cantù Municipality by Cantù Next, a financial services and real estate development firm that will also provide most of the project’s funding.

“Today we plant the flag in Italy, a region with incredible growth potential,” said Ron Bension, president and chief executive of ASM Global.

“ASM brings to Cantù the decades of expertise and world-class service that have made ASM the premier venue service company it is today. We are looking forward to building on our success and making the new arena one of the most recognised facilities in the region.”

Plans for the arena were unveiled late last year and come after numerous failed attempts to develop a new home for Pallacanestro Cantù. The club has been playing away from its hometown in recent years due to the deterioration of its historic home of Palasport Pianella.

The new arena will have an octagonal plan and include a lower retractable tier of seats that can be adapted for concerts and events.

ASM operates 50 theatres, stadiums and arenas in Europe, and its global properties include Barclays Center in Brooklyn, The Globe in Stockholm, SSE Arena Wembley in London, and Qudos Bank Arena in Sydney.

“We are honoured to be able to link the names of Cantù Next and Pallacanestro Cantù with ASM Global, the premier name in entertainment and venue management,” said Andrea Mauri, managing director of Cantù Next and Pallacanestro Cantù.

“This alliance represents a great opportunity not only for the club, but for the new sports arena. Thanks to ASM, we will be able to develop new partnerships with international brands and will be able to better attract non-sporting events that will provide added value for the city of Cantù and, more generally, for our territory.”

Images: Pallacanestro Cantù