Plans for a new 23,500 capacity arena near the Etihad Stadium have been approved.
Manchester Council gave the 拢350m music and indoor sports arena next to the Etihad Stadium the green light today, the reported.
The venue, to be built by American firm Oak View Group, is set to become the biggest indoor arena in Britain.
They claim that it could bring in as much as 拢1.5bn into the city鈥檚 economy over the next 20 years.
Council officers last week recommended it be approved in their report to councillors.
Co-founder and chief executive of applicant The Oak View Group (OVG) said: 鈥淲e鈥檙e delighted that Manchester City Council has given our proposals the go-ahead, and we can鈥檛 wait to get started, bringing a 拢350m private investment, creating thousands of jobs, and delivering one of the world鈥檚 best arenas to this amazing city.
鈥淚 want to say a huge thank you to the community for taking the time to listen to what we had to say and providing feedback that ensured this arena is of Manchester, for Manchester and by Manchester.鈥
However, ASM Global, the operators of Manchester Arena, recently renamed the AO Arena, were bitterly opposed to the proposals, saying they fear it could drive them out of business.
However OVG insist the city can accommodate more than one arena, as in the case in Birmingham and London.
AO Arena said they were 鈥渄isappointed鈥 by this afternoon鈥檚 decision which they say has now put their own expansion plans 鈥渋n jeopardy鈥.
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鈥淭hese concerns are backed by compelling evidence that shows there is simply no market for a second major arena in Manchester.
鈥淭his decision will have a significantly adverse impact for our existing arena, and the wider city centre businesses and attractions it supports.
鈥淐lear evidence has been presented on multiple occasions that demonstrates the application for an Eastlands Arena relies on flawed research, impossible market projections, is in defiance of national and local policy, and does not align with the adopted Core Strategy to support sustainable growth in the city. Why then has it been so readily approved?
鈥淔undamental questions remain as to whether this is truly the right choice for Manchester, particularly in the current climate.
鈥淒espite the initial plans for the area, starting with the 2017 Eastlands Regeneration Framework, emphasising any proposals should complement the city centre offer, we firmly believe, and are supported in analysis from the likes of Charles River Associates, Oxford Economics and Grant Thornton, that this second arena will instead pull visitors, footfall and spend away from the city centre.鈥
The arena said they are 鈥渃onsidering our position, and will review all options to ensure the future of Manchester Arena, and our city centre economy, is secured, despite the pressures posed by the approval of this application鈥.
