Plans for a new 23,500 capacity arena near the Etihad Stadium have been approved.
Manchester Council gave the £350m music and indoor sports arena next to the Etihad Stadium the green light today, the Manchester Evening News reported.
The venue, to be built by American firm Oak View Group, is set to become the biggest indoor arena in Britain.
They claim that it could bring in as much as £1.5bn into the city’s economy over the next 20 years.
Council officers last week recommended it be approved in their report to councillors.
Co-founder and chief executive of applicant The Oak View Group (OVG) said: “We’re delighted that Manchester City Council has given our proposals the go-ahead, and we can’t wait to get started, bringing a £350m private investment, creating thousands of jobs, and delivering one of the world’s best arenas to this amazing city.
“I want to say a huge thank you to the community for taking the time to listen to what we had to say and providing feedback that ensured this arena is of Manchester, for Manchester and by Manchester.”
However, ASM Global, the operators of Manchester Arena, recently renamed the AO Arena, were bitterly opposed to the proposals, saying they fear it could drive them out of business.
However OVG insist the city can accommodate more than one arena, as in the case in Birmingham and London.
AO Arena said they were “disappointed” by this afternoon’s decision which they say has now put their own expansion plans “in jeopardy”.
“These concerns are backed by compelling evidence that shows there is simply no market for a second major arena in Manchester.
“This decision will have a significantly adverse impact for our existing arena, and the wider city centre businesses and attractions it supports.
“Clear evidence has been presented on multiple occasions that demonstrates the application for an Eastlands Arena relies on flawed research, impossible market projections, is in defiance of national and local policy, and does not align with the adopted Core Strategy to support sustainable growth in the city. Why then has it been so readily approved?
“Fundamental questions remain as to whether this is truly the right choice for Manchester, particularly in the current climate.
“Despite the initial plans for the area, starting with the 2017 Eastlands Regeneration Framework, emphasising any proposals should complement the city centre offer, we firmly believe, and are supported in analysis from the likes of Charles River Associates, Oxford Economics and Grant Thornton, that this second arena will instead pull visitors, footfall and spend away from the city centre.”
The arena said they are “considering our position, and will review all options to ensure the future of Manchester Arena, and our city centre economy, is secured, despite the pressures posed by the approval of this application”.
