The delivery of the new 15,000-capacity Indoor Arena at Atlantic Wharf has taken another step forward following the completion of the Full Business Case and a report to Cardiff Council’s Cabinet to appoint the consortium of Live Nation, Oak View Group as operators and Robertson as developer - as the successful bidder.

The new indoor arena will create a premier destination, which could attract one million visitors every year and bring more than £100m per annum into the local economy.

Cllr Russell Goodway, Cabinet Member for Investment and Development, said: The city's business community have backed the project for many years, particularly the hospitality sector. The new indoor arena will be a top tier UK visitor attraction and the financial benefits that it will bring to Butetown and the wider area will be significant - with up to 2,000 jobs created during the construction phase and a further 1,000 jobs in operation when the Atlantic Wharf masterplan becomes a reality.

“Through the Atlantic Wharf masterplan, significant improvements will be made to the public realm and to transport links, and there is no doubt that the regeneration of this site will kick-start the next phase of regeneration in Cardiff Bay.”

Construction is expected to begin in April 2022, with the arena opening at the end of 2024.

Graham Walters, chief operating officer, Live Nation (UK Venues), said: “We are committed to delivering a world-class arena with Cardiff Council and our consortium partners OVG and Robertson, that will offer maximum benefit to the local community and the wider region to create one of Wales’ key cultural locations and destination venues.”