Atletico Madrid is taking another major step in diversifying its revenue streams after reaching a 10-year strategic agreement with entertainment giant Live Nation to host concerts at the Riyadh Air Metropolitano.
The deal, which is expected to be officially announced in the coming hours, will see between 15 and 20 concerts staged annually at Atletico’s home stadium, with all events scheduled during the off-season when no competitive fixtures are played.
The agreement also includes an option to extend the partnership beyond its initial 10-year term.
A new multi-million euro revenue stream
Atletico plans to leverage not only the stadium itself, but also a future indoor arena to be built adjacent to the Metropolitano, as well as the existing fan zone outside the venue, which already features a permanent stage.
According to industry sources, the club expects to generate up to €1 million in net revenue per concert, while additional income is likely to come from direct ticket sales following Atletico’s recent partnership with ticketing platform Fever.
Earlier this year, Atletico, Live Nation and Oak View Group agreed to invest approximately €400 million in a new 20,000-seat indoor arena next to the stadium. The venue is expected to become one of Spain’s premier entertainment destinations and has been modeled after Manchester’s Co-op Live arena.
Bad Bunny demonstrated the stadium’s potential
The Metropolitano has already emerged as a major concert venue in recent months. Puerto Rican superstar Bad Bunny performed ten consecutive sold-out shows at the stadium in May and June, attracting more than 560,000 spectators, with average attendance exceeding 56,000 fans per night.
Non-sporting activities generated €22 million in Atletico’s most recent annual budget, although concert ticketing revenue had not previously been included as a direct income source for the club.
Atletico officials maintain that all events hosted at the stadium have complied with local noise and cleanliness regulations, with concerts ending before 11 p.m., when stricter noise restrictions come into force.
Bernabéu’s setbacks create an opportunity
Atletico’s move comes as city rival Real Madrid continues to face challenges surrounding concerts at the renovated Santiago Bernabéu.
The Bernabéu hosted 16 concerts during the summer of 2024, but complaints from local residents regarding excessive noise escalated into legal disputes, forcing the suspension of further events.
Although Spanish courts have ruled that concert promoters, rather than Real Madrid, bear responsibility for noise issues, legal proceedings remain ongoing, while soundproofing work at the stadium continues.
Against this backdrop, Atletico Madrid appears determined to position the Metropolitano as more than a football stadium, transforming it into a year-round entertainment destination capable of generating significant recurring revenues and strengthening the club’s commercial model.