Cologne's Lanxess Arena Expected To Go Up For Sale By The End Of March
Cologne's Lanxess Arena, which is, among others, the home of German Hockey League (DEL) club Cologne Sharks, "is expected to be sold," according to the SID. Arena owners Oppenheim-Esch-Fonds "are reportedly preparing the sale of the multi-purpose arena, which was completed in '98, and its adjacent buildings for the end of March." The whole complex "is expected to be divided into five parts: the 18,500-seat arena itself, a training facility, two office buildings and a parking deck." The owners hope that the separation "will increase the number of potential buyers." The owners invested an estimated €320M in the project. They expect "to regain about two-thirds of it through the sale" (SID, 3/19).