Deserve? In the Co-op Live arena when it finally opens

The Co-op Live Arena finally opened last night after a whole saga involving delays, cancellations and incidents inside the venue.

After an awkward start, the arena welcomed guests for the first time on Tuesday, May 14, when Elbow took the stage. The Manchester band were due to perform at the 15th Co-op Live event, but after other big names including Peter Kay, Olivia Rodrigo and Take That were forced to pull out at the last minute, Elbow opened the arena.

Mr Tim Leiweke, the man behind Manchester’s Co-op Live Arena and CEO of Oak View Group (OVG), discussed the financial implications of the venue’s delayed opening. He said: “Are we spending more than anyone originally anticipated? Yes, but it will be worth it. The original cost was £365 million and now it is over £400 million.”

READ MORE: Taylor Swift’s message to fans ahead of Liverpool concert

READ MORE: Win a £200 Wickes voucher to celebrate the launch of Kimberley Walsh’s new paint

He added: “OVG and City Football Group, including our contractor and what they have had to put into losses, we will spend almost £450m privately. The contractor (BAM) lost a lot of money on this job. it cost them more than anyone expected.”

The colossal arena has a capacity of 23,500 – making it the largest indoor venue in the UK. Despite forecasting a final cost of £450m due to the series of delays – a significant increase on the £365m originally estimated – Mr Leiweke remains optimistic about the undertaking, saying that although the extra costs have were “painful”, they accepted it. on the chin.

An overview of the Co-op Live arena(Image: Getty Images)

Finally, he added, “We’ve been building this arena for five years, this is the longest construction I’ve ever seen on any arena ever built, it’s a complicated beast.” Mr Leiweke declined to discuss the financial repercussions of the delays, the Manchester Evening News reports.