BUENOS AIRES (CelebrityAccess) — Live Nation and their Argentinian partner, DF Entertainment, have successfully secured a deal to manage Estadio Luna Park a multi-purpose arena in Buenos Aires.
According to the Argentinian newspaper La Politica, the deal will see Live Nation and DF Entertainment manage the venue for the 20 years with a potential to expand the agreement for another two decades.
As part of the deal, Live Nation and DF Entertainment will invest $34 million dollars into the arena, starting in January 2025 and will help to expand the arena’s capacity to 13,000.
Additionally, the two companies will pay the arena’s owners with $1 million premium and guarantee a minimum of $1 million in annual profit as well as a fee per show, La Politica reported.
According to La Politica, the agreement will put Live Nation and DF Entertainment in direct competition in the market with the 15,000-capacity Movistar Arena de La Nación in Buenos Aires, operated by rival Anschutz Entertainment Group.
