Red Bull To Build New 10,000-Seat Arena In Munich With DEL, BBL Clubs As Tenants

Red Bull Founder Dietrich Mateschitz said that the energy drink company "will build a new multi-purpose arena in Munich," according to N-TV. The arena, which is set to open in '19, will become the new home venue for German Hockey League (DEL) side EHC Red Bull Munich and Basketball Bundesliga (BBL) club Bayern Munich. Mateschitz: "We will be pre-financing the 10,000-seat arena with around €100 million ($106M). We intend to refinance the arena through rental income from EHC Red Bull Munich, Bayern Munich Basketball and the city. Munich is ambitious. We are planning to open the arena in 2019." The arena will be located inside Munich's Olympic Park where the old velodrome used to stand. Red Bull and Bayern Munich have advocated for a new arena since '14, but the jail sentence of Bayern Munich President Uli Hoeneß for tax evasion stopped those plans. Red Bull not only finances the Munich-based hockey team but also Bayern's Bundesliga rivals RB Leipzig (N-TV, 1/15).