Recently, the club from Belo Horizonte won the Brazilian Serie A title for the first time in 50 years. Things are going smoothly off the pitch as well and the construction of the new stadium is moving forward. The venue will be one of the most technologically advanced in South America.

The construction of the ground with a capacity of 46,000 began in April 2020 and is expected to last three years. Therefore, the grand opening of Arena MRV is scheduled for May 19, 2023, when Atlético Mineiro face a well-known foreign team in a friendly match.

It is not known yet who will be the opponent, but Atlético may be the favourite of the game. This is a common situation in various Brazilian football competitions in which the club is participating, as you can find out by visiting the best sports betting sites.

On the same day, in addition to the match, a music concert will be held at the newly opened stadium. This confirms the design assumptions that the arena is to be fully multifunctional. Before the official inauguration takes place, a number of test events will be organised.

© instagram.com/arenamrv

Initially, it was said that the opening would be in October 2022, but it will not be possible as the stadium will need a number of various permits from the municipality. All of them are to be obtained by spring 2023. At the moment, 600 people are working on the construction site, and the level of project implementation has exceeded 44%. Closer to the end of works, the number of workers is to increase to 1,000.

In 2017, when the stadium was being planned, it was announced that the construction cost would be R$410 million. Less than 3 years later, when work began, it was R$560 million. Recent reports show that total expenses are likely to exceed R$700 million (€ 109 million). However, the club should cope well with this burden thanks to a well-thought-out investment financing model.

© instagram.com/arenamrv

The arena's financing model relies entirely on private funds. Moreover, the club did not have to take out a loan for the construction and will be the owner of the venue when it is put into use. The plot on which the stadium is being built was transferred to the club by MRV free of charge.

This entity entered into a naming rights agreement with the management of the stadium and over the time became one of the most important sponsors of the club. Although MRV comes from the construction industry, it does not actively participate in building the arena.

Additionally, Atlético sold a 50.1% stake in Diamond Mall, the club's shopping centre. R$290 million was raised from this transaction, almost half of the construction cost. Another big injection of cash was the sale of seats at the stadium (typical for new stadiums in South America). Companies such as Brahma, ArcelorMittal and Fassa Bortolo also contributed financially to the construction.