BRISTOL, England (CelebrityAccess) The construction firm building the new Bristol Arena, a 12,000-capacity arena to be built in England in 2020, can be delivered on budget.
The projected arena is £123.5 million, according to Pan Stadia, and will have funding from the Economic Development Fund of £53 million, operator contribution and income of £42 million and infrastructure funding associated with the surrounding Temple Meads East project of £28 million.
KPMG estimated it will cost £156 million.
“WE have set a target cost that we will come under, or we will lose money,” Buckingham Group director Oran McCloskey told the Bristol City Council, according to Pan Stadia. “This is the exact type of project for us, so why would we set a target cost where we would exceed it and lose money. We are very confident that we understand how to build this project and we understand all the significant risks.”
An alternate location for the site has also been proposed and Mayor Marvin Rees is expected to make a final decision on the location July 3, the magazine said.
