Brazilian real estate, venue management and entertainment group, Revee, has teamed up with Argentine sports development firm Proenter to enter a proposal to redevelop and operate Estadio José María Minella, which was built for Argentina’s staging of the 1978 FIFA World Cup.
The proposal, Revee’s first move in the Argentine marketplace, was the only valid offer received as part of an international tender process launched by the Municipality of General Pueyrredón in December.
Guillermo Montenegro, Mayor of General Pueyrredón, had earlier outlined plans to launch a tender process to secure a partner to redevelop and operate Estadio Minella. Although the stadium in Mar del Plata, one of three to be developed for the 1978 World Cup, is still in use, it has fallen into a state of disrepair, with its main covered grandstand closed since September 2021 due to structural issues.
The tender process has incorporated the Polideportivo Islas Malvinas arena and other facilities located within the Teodoro Bronzini Municipal Sports Park complex. The stadium is still used as the home ground of local football teams Club Atlético Alvarado and Club Atlético Aldosivi, but officials are seeking that it can be brought back to its former glory and reclaim its position as a host venue for Argentina games and other major events such as concerts.
Notably, Revee and Proenter’s proposal has been endorsed by the Argentine Football Association (AFA), which in recent years has been linked with efforts to return national team games to the stadium.
The tender includes a 30-year concession, with an option to extend for another 10 years. Local newspaper La Capital said the financial offer made by the Revee-led group will be revealed at a later date.
Revee’s project includes the complete restoration of the stadium, which has current capacity of more than 32,000, the modernisation of the arena, and a general renovation of the entire surrounding area. It also includes food, retail and gaming areas.
Unlike other stadiums in Argentina, which are managed and financed by their provinces, the Minella is owned by the Municipality of General Pueyrredón, which while allowing it the freedom to make decisions also affords financial challenges in terms of upkeep.
Montenegro said on X: “Grupo Revee, a leading Brazilian fund in sports and entertainment infrastructure, presented a multi-million-dollar total modernisation project. This is the first time it has decided to invest in Argentina.
“The city cannot continue to sustain structures that generate expense and add no value if they are managed by the state. With private investment, we seek to transform Mar del Plata into a hub for world-class sporting and cultural events.
“The proposal includes gastronomy, retail, gaming, and the approval of the AFA for the Estadio Minella to host all national teams.”
