The Madison Square Garden Company (MSG), which operates the world famous ‘Madison Square Garden’ in New York, has purchased nearly five acres of land in Stratford, East London, to build an international music and performance venue.

London is hoped to be the 1st city to build a ‘MSG Sphere’.  Designed by Populous, the Kansas City-based firm responsible for a large number of stadia and arenas across the globe, Spheres are planned for London and Las Vegas, and form part of the company’s plans for “next generation” facilities that create immersive and multi-sensory environments, and will be equipped with “game-changing” technologies.

The project is expected to bring 700 construction jobs to Newham for the 3 years it will take for building to be completed, and 2,700 to other parts of London.

The Sphere’s ability to emmerse the audience shown as an artist’s render

The estimate benefit to the UK economy is £2.7bn during its first 20 years of operation.

According to the company’s Economic Impact Report, once the venue is operation, an estimated £8 million would be spent annually in bars and restuarants in Newham and surrounding areas, £29m in local retail establishments (with nearby Westfield expected to be a chief beneficiary),  and a £15m windfall to local hotels.

James L Dolan, executive chairman and CEO of MSG, said: “London is one of the world’s greatest cities, and we are delighted to be taking this first step towards making it the location for MSG’s first international venue.”

“We believe that a large-scale, next-generation venue will not only become a premier destination, but also drive growth in London’s overall music and entertainment market – benefiting artists and fans, and serving as a long-term investment in the future of this incredible city. MSG Sphere will provide a home where like-minded communities can come together to not only interact with the performance, but also with each other.”

Mayor of London, Sadiq Khan, said: “It’s great to welcome another world-class venue to the capital, to confirm London’s position as a music powerhouse and to boost still further our city’s thriving night-time economy. From intimate grassroots music venues to spectacular arenas, London’s buzzing live music scene is world-renowned.”

Secretary of state for digital, culture, media and sport Matt Hancock stated “It’s great news that the world-famous Madison Square Garden Company has chosen London to be home for its first international venue. This ground-breaking arena in east London will not only create jobs, but help us continue to develop incredible artists, music, and innovative technology that will give fans an amazing experience.”

Further details of the design will be announced in the coming months and the final plans will be subject to a public consultation.

The full Economic Impact Report can be read by clicking here

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