The Competition Commission has finally decided that AEG Facilities, a standalone affiliate of AEG, will manage Wembley Arena.
The 12,500-seat arena, which has been operated by Live Nation Entertainment for the past six years, will now be added to AEG's current portfolio, which also features the O2 Arena, IndigO2, and the Hammersmith Apollo.
Rod O’Connor, executive vice president of AEG Facilities, Europe, said: "Wembley Arena holds a special place in the hearts of music and live entertainment fans. It enjoys fame on a global scale and we are delighted to welcome it into our portfolio of elite and iconic venues and to have the opportunity to support it with our experience in operating many of the world's most successful live events venues."
Many aspects were considered by the Competition Commission, such as if the merger would reduce and damage both the quality of the venue and the arena's reputation.
Martin Cave, chairman of the AEG/Wembley inquiry group, added that AEG will still remain limited in increasing venue hire prices due to various issues such as brand, availability, capacity, personal preference and reputation. Instead, venue price negotiation will now take place after the venue booking has been confirmed.
This news comes just two months before Quintain opens the London Designer Outlet next to the Arena. This means that visitors can not only enjoy great shows and matches, but also shop, dine and even stay the night at the Hilton London Wembley. It is hoped that around eight million visitors will come to the Arena every year, and this in turn, will hopefully create a wide array of hospitality jobs in the local area.
In the past eight decades, the Arena has been host to some of the biggest artists such as The Rolling Stones, The Who, The Beatles and Stevie Wonder.
Berkeley Scott is a specialist recruitment agency in the catering industry.