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London's O2 Arena Up For Sale

Friday, October 12th 2012 12:00

The world's second most popular venue is up for grabs

NME reports that Anschutz Entertainment Group, the US concert venue company who currently own the venue, are looking to sell some of their biggest assets, including London's most popular venue.

The O2 Arena (formerly the Millennium Dome) was famously sold to a US consortium by the UK government for a nominal sum of £1 despite costing the UK tax payer £850m to build and it was later redeveloped into a sports and entertainment arena between 2003 and 2007. Since then it has become of the world's busiest venues and has played host to some of the world's greatest bands, plus it was used as an Olympic venue. Mobile network O2 pays about £6 million a year for naming rights to the site.

According to reports AEG are looking to shift a number of their assets and could raise as much as $7bn.

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