Design & Development

Tycoon Roig takes full control of new Valencia arena

Featured image credit: Roig Arena

Spanish tycoon Juan Roig has taken full control of Valencia’s under-construction Roig Arena.

Licampa 1617, a holding company owned by Roig, has acquired 100 per cent of shares for the venue after purchasing Arena Alive SL’s remaining stake in facility operator Valencia 5 Estrellas.

The 18,600-capacity Roig Arena, due to open next year, is named after the president of supermarket chain Mercadona, who has already invested €280m (£233m/$292m).

Licampa 1617 said the acquisition is due to cause a change in personnel in charge of the project.

“Following this operation, a restructuring process will begin at Valencia 5 Estrellas with the aim of analysing the final corporate structure that will remain for the management of the Roig Arena,” the company said in a statement.

“Neither the acquisition nor the restructuring will affect the development of the facility: the team will remain the same, and planning and schedule continue as planned.”

Building work on the Roig Arena started in June 2020 and is due to be completed in the second half 2025.

It will primarily host concerts and basketball matches, with Valencia Basket expected to use it as its main venue in place of La Fonteta.

However, for basketball it will have a reduced maximum capacity of 15,600.

This will make it the largest arena in Spain ahead of Madrid’s WiZink Center.

Musical performances by Joaquín Sabina, Hans Zimmer and Dani Martín have already been announced.

The original delivery date for the venue was supposed to be in 2023 but that has slipped until next year.

The venue is also due to boast a 1,300-space car park, a multi-purpose hall, catering areas, and other terraces and premium spaces.