Live Nation Entertainment, along with its local partner Diego Finkelstein, are the main candidates in the auction organized by the consulting firm E&Y to acquire the emblematic Luna Park stadium, a symbol of the city, which is currently in the hands of the Salesian Juan Bosco Society and Caritas.
Luna Park: a historic place
To talk about this topic, Channel E contacted the real estate developer Gustavo Ortola who said that precisely Luna Park “It is one of the few buildings in the city of Buenos Aires that has an impressive history”.
According to the interviewee, this building, listed as the city’s heritage since 2007, has been the scene of historical events such as Carlos Gardel’s wake, the meeting between Perón and Evita and Maradona’s wedding. And he added: “It is a historical icon of the city”.
Who are the current and future owners of the stadium?
When asked about the current management of the stadium, Ortola He said that in 2018, the will of Lectoure’s widow transferred the property to the Salesian Society Juan Bosco and Cáritas, administered by the archbishop of Buenos Aires.
Recently, a tender was held to determine the new destination and exploitation of Luna Park and the tender, according to the interviewee, “was won by businessman Diego Finkelstein, partner of Live Nation and Ticketmaster”, a company that has brought the best events to Buenos Aires since 2018, including artists such as Roger Waters, Coldplay and Paul McCartney.
Investment of 30 million dollars and doubling of capacity
On the other hand, the interviewee explained that Luna Park faces an important restriction and that is the capacity of 8,500 people, half the capacity of the city’s Movistar Arena. “To solve this, Finkelstein plans to double the capacity of Luna Park, with an investment of 30 million dollars, exploiting it for 30 years and promising to once again turn it into an icon of Buenos Aires entertainment.”he continued.
Regarding the change of management, Ortola clarified that, “this concession does not change hands” because “the ownership of the building will remain with the Archbishopric” and “while the 30-year concession will focus on entertainment”.
In closing, he said: “The Lectoure family operated it for almost 90 years, and now it will be Finkelstein with Live Nation who will manage it, implementing an entertainment program and a retail base that will revitalize this mythical place in Buenos Aires”.
