VIENNA WAITS: A rendering of a new $428 million multipurpose arena to be built in Vienna, Austria, designed by architects Kronaus/Mitterer/Gallister. (

Oak View Group, parent company to VenuesNow and Pollstar, has won the bid for its next big European arena project: a new 20,000-capacity building in the Austrian capital of Vienna, the gateway between Western and Eastern Europe, according to OVG CEO Tim Leiweke.

Following an 18-month process, OVG was named “best bidder” to lead the construction and operation of the $428 million project. The U.S. arena developer stated that it intends to build “the best [arena] in continental Europe, enabling Vienna to compete with other worldwide capital markets and to host more of the world’s top events.”

The city of Vienna launched the planning process for a new arena in 2019, with the aim of creating a multi-purpose, state-of-the-art building that would attract the world’s biggest touring artists, as well as other types of shows, corporate events, trade fairs, e sport, and other special events, according to the city’s own words.

The award process, led by the city of Vienna’s Wien Holding, was set up to identify a strategic partner capable of planning, constructing, financing, and operating the new arena.

Targets that had to be met by the bidders also included convincing sustainability and health and safety concepts, which OVG was able to provide. Construction is scheduled to begin in 2025, aiming for completion in late 2029.

According to the city, the arena will be largely financed by OVG, with the city contributing an amount in the “double-digit million range,” according to the final offer.

“The next phase of the award process will include planning, zoning, and environmental impact assessments for the project before the contract signing later this year,” according to a release from OVG.

It marks the ninth arena project in the last two years for OVG. As OVG points out, “all of Oak View Group’s arenas have a positive community impact, prioritize sustainability, and maximize safety for visitors. OVG has a record of delivering its arenas through private financing, minimizing the cost to local councils and taxpayers.”

Subcontractor on planning and construction is the Granit GmbH, among the top 10of Austria’s largest construction companies. Populous are on board for added cooperation and planning. The basic design of the building was conceives by Vienna-based architects Kronaus/Mitterer/Gallister.

While the city acknowledges that OVG cooperates closely with Live Nation, the largest entertainment provider worldwide, an important part of the bidding process was a guarantee that the arena would be open to all event organizers, “and that there are no exclusive rights for certain event organizers,” as it states on the City’s website, which adds that ticketing, too, must be designed in such a way as “not to impair the existing competition among the various ticket providers.”

Leiweke commented, “Vienna is a capital market that deserves one of Europe’s top entertainment arenas. As the gateway between Western and Eastern Europe and again ranked as the world’s most livable city this year, it needs an arena that can attract the world’s best events. For those that doubt our commitment and wherewithal, there have been seven new arenas built in the world in the last two years and OVG did them all. We are committed to this project and will deliver on our commitments.”

Francesca Bodie, president of business development and lead negotiator on behalf of OVG, added: “We have huge admiration for the city of Vienna for having the vision to deliver continental Europe’s best arena, as well as the initiative to find a partner with a proven record of delivering outstanding new arenas that minimize the cost to taxpayers and prioritize innovation and sustainability.”

As Wien Holding states, moves were made to stop the awarding of the project to OVG, including “two applications for review, and applications to prohibit the conclusion of the contract,” which were filed with the Vienna Administrative Court against the decision to award the contract to the best bidder.

As a rule, the Administrative Court of Vienna has a decision deadline of six weeks, and in award procedures of this complexity, proceedings can be expected to take several months, the city informs.