- April 21, 2026
- Posted by: SportsV
- Categories: Featured Articles, Features, Home News, Industry News, News, Press Releases
Barsento, the joint venture formed by Live Nation, Oak View Group (OVG) and Atlético de Madrid, has presented the transformation project of the former Olympic Aquatic Centre site alongside the Mayor of Madrid, José Luis Martínez-Almeida. The initiative will breathe new life into the unfinished building, transforming it into one of Europe’s most significant multifunctional complexes dedicated to sports, entertainment, culture and education.
The project will provide Madrid’s northeastern area with an innovative and distinctive offering for sports, leisure and culture, open to the public and designed to complement and reinforce the city’s ongoing urban transformation.
In January 2025, Barsento presented a private initiative to the City of Madrid aimed at regenerating the Aquatic Centre building, an unfinished infrastructure with enormous transformative potential for the city. The proposal was analysed by the City Council, which validated its general interest, urban planning compliance and economic feasibility. Subsequently, it was subjected to public consultation, with no alternative proposals received. Finally, the City Council decided to hold a public tender, to which Barsento submitted a proposal that has been awarded.
This process culminates today with the public announcement of the land concession for the municipal plot ES01 in the AOE 00.08 “Parque Olímpico Sector Oeste” area, covering 66,843 m² with a buildable area of 90,000 m².
The project has been designed with consideration for its social, economic and environmental impact, incorporating global trends in urbanism and sustainability. It aims to help Madrid maintain its position as one of the leading cultural and recreational destinations in both Spain and Europe, with a positive influence on the local economy through tourism and the attraction of international events.
Mayor of Madrid, José Luis Martínez-Almeida, said:
“Our city will be home to one of the most important entertainment, culture, education and sport complexes in the world. A unique space that, together with the Ciudad del Deporte being developed by Atlético de Madrid, will establish the city as an international benchmark. This project will become a defining hallmark of Madrid and will give all its residents access to culture, sport and education in a world-class environment.”
He further added:
“Madrid is already a great music capital, and Live Nation’s commitment to investing and growing here is proof of that. Together with OVG, whose expertise and track record will be instrumental in making this venue a success, we have the opportunity to become a major global music hub and a city of residence for the world’s greatest artists. This is further reinforced by the commitment of UAX, a leading educational institution in Spain, and GOfit, which will bring high-quality swimming pools to the district — something local residents have long been calling for — and will complete a sporting offer unprecedented in the area.”
Construction work will begin shortly, with a completion timeline extending until the end of 2030. Once finished, the complex will open its doors as a world-class infrastructure that will solidify the San Blas-Canillejas district as a reference for sports, leisure and entertainment in Madrid. This will complete the urban development initiative surrounding the Riyadh Air Metropolitano stadium, which also includes the Ciudad del Deporte project, transforming a once-lost Olympic initiative into an opportunity for growth and revitalisation for the people of Madrid and the district.
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Atlético de Madrid CEO Miguel Ángel Gil, said:
“We have spent nearly 15 years looking for a way to bring this site to life, convinced that it could become the city’s finest leisure and entertainment destination. Today we can say that we got it right, because the key has been finding truly complementary activities that will generate real value for the district. Having a music arena alongside Live Nation and OVG, a university and vocational training campus of the calibre of UAX, and the sports facilities that GOfit will bring, fills us with pride. This project is the result of years of tenacity. Atlético de Madrid has acted as a great integrator, bringing together efforts and ambitions around an investment of 400 million euros, and finding the pieces that complement and strengthen our Ciudad del Deporte. Thank you, from the bottom of our hearts, to everyone who has made this possible.”
Three major facilities: auditorium, university centre and sports centre
The transformation project for the Olympic Park will focus its activities around three major areas:
Music-first arena for concerts and events. This will be the heart of the complex, dedicated to music and cultural shows, with a capacity of over 20,000 people. Madrid will thus have a new, world-class covered venue to host major entertainment events and meet the growing demand for live performances. This will further position the city as a global centre for live music, particularly as a leading hub for Latin music worldwide.
Educational Campus (UAX Group). A modern and sustainable campus for more than 2,300 students, offering higher education and vocational training through Universidad Alfonso X el Sabio and XTART FP. The programs will include degrees in health and sports management, developed in collaboration with Atlético de Madrid, as well as management and technology applied to the music and entertainment industry, in partnership with Live Nation.
Sports Centre (GOfit). A facility with a capacity for up to 9,000 users, featuring both indoor and outdoor pools, a project designed to complement the entertainment and leisure offering required in the San Blas-Canillejas district.
Pino Sagliocco, President, Live Nation Spain, said:
“The project is a turning point for the city, reinforcing its position as a global music capital. It creates a new cultural hub for Madrid, expanding how and where audiences can experience live music, while reflecting the city’s role as a bridge between Europe and Latin America. With an open, inclusive and diverse creative vision, it will also provide artists with an exceptional environment to connect with their fans.”
Chris Granger, CEO, Oak View Group, said:
“Madrid is one of the premier destinations for live entertainment on the planet. We at Oak View Group believe that a new world-class arena can be transformative for Madrid and the broader region. This venue is designed to become the central hub of a multifunctional project, capable of attracting global talent, boosting tourism and creating new opportunities for local businesses, while driving long-term economic impact. Together with our partners, we are committed to creating unforgettable experiences for fans, artists and the broader community.”
Alfonso Arroyo, Deputy to the President of GOfit, added:
“At GOfit, we promote a health and wellbeing prevention model. This initiative, integrated into a top-tier project, has been conceived to provide the neighbourhood with a highly anticipated space for local residents—designed for everyone—where wellbeing, connection, and family enjoyment come together in a single, accessible and community-focused experience.”
Jesús Núñez, President of UAX, added:
“Higher education must rise to the level of, and serve, the sectors that are transforming the world. Sport, music and entertainment are global industries driving economic development while requiring professionals with specialised, rigorous training that is closely aligned with the realities of the sector. This project gives us the opportunity to deliver exactly that: a distinctive educational offering, unique in Spain, born from direct collaboration with internationally leading partners.”
International Expertise and Track Record
Barsento combines the knowledge and experience of three global industry leaders. Live Nation is the largest live entertainment company in the world, with a presence in more than 50 countries. OVG is the largest developer and operator of entertainment venues worldwide. Atlético de Madrid contributes its expertise in managing large sports and leisure infrastructures in the city.
Although these are independent initiatives, the transformation project for the Aquatic Center and the City of Sports promoted by Atlético de Madrid together form an unprecedented ecosystem in the capital. In the coming years, this environment will become one of the leading destinations for sports, leisure, culture, and education, not just for Madrid, but for all of Europe.
About Barsento
Barsento SL is the joint venture formed by Oak View Group, Live Nation and Parque Metropolitano (a subsidiary of Atlético de Madrid) for the development of the Olympic Park Transformation Project in Madrid. The company was formed to present and execute a private urban regeneration initiative on the municipal plot ES01 in the AOE 00.08 “Parque Olímpico Sector Oeste” area in the San Blas-Canillejas district of Madrid.
About Live Nation
Live Nation Entertainment (NYSE: LYV) is the world’s leading entertainment company, consisting of three global market leaders: Ticketmaster, Live Nation Concerts and Live Nation Sponsorship.
About Oak View Group (OVG)
Oak View Group (OVG) is the global leader in premium live entertainment infrastructure and services, with a platform spanning venue development and end-to-end capabilities across venue management, hospitality and sponsorship sales. Founded in 2015, the company serves a collection of seven world-class owned venues and a client roster of the most iconic arenas, stadiums, convention centres, music festivals, performing arts centres and cultural institutions, spanning four continents.
About Parque Metropolitano
Parque Metropolitano is a subsidiary of Atlético de Madrid, established in 2022, and dedicated to operating and managing facilities for sports activities, recreation, leisure and sociocultural events around the Metropolitano Stadium.
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