Spain: Atletico launches the project of the new concert ‘hub’ next to Estadio Metropolitano

24.04.2026 17:22 source: StadiumDB.com ; author: Miguel Ciołczyk Garcia

Atlético and the City of Madrid have unveiled a project that will transform the concrete shell next to Estadio Metropolitano into a centre for concerts, leisure and education. The American companies Live Nation and Oak View Group will be responsible for carrying out the project.

Estadio Metropolitano will have a multi-purpose complex

What is currently a concrete shell next to Estadio Metropolitano will soon become a complex combining a concert hall, a sports centre and a university campus. This is because Atlético, in collaboration with Madrid City Council, Live Nation and Oak View Group, will transform the unfinished Aquatic Centre into a multi-purpose complex.

We’ve been looking for ways to breathe new life into this venue for nearly 15 years [...] Today we can say we’ve got it right, said Miguel Ángel Gil, CEO of Atlético de Madrid. This project is the result of years of perseverance, he added.

Auditorium, campus and sports centre

The councillor put the cost of the investment at around €400 million. However, the council cites a slightly different figure: more than €360 million.

Thanks to this funding, the Aquatic Centre will have:

a concert hall with a capacity of over 20,000 people,
a campus of Alfonso X el Sabio University for 2,300 students,
a sports centre with a capacity for 9,000 users.

What it will not have, however, is a hotel. As reported by El Confidencial, Atlético has dropped it from the plan, as the Madrid Court of Justice declared the agreement with the City null and void at the end of 2025, ruling that the hotel could not be included without amending the General Plan.

The City Council grants Barsento a licence valid until 2101

The project will be led by the Barsento consortium, comprising Live Nation and Oak View Group. The works are due to be completed in 2030.

The City Council, for its part, maintains that the project is in the public interest. In exchange for a 75-year concession for Barsento, the council will receive 141 million euros. With this project, Madrid is set to become one of the world’s leading artist residencies, a major hub for music, says mayor José Luis Martínez-Almeida.