Venue will have 16,500 capacity and is part of wider redevelopment called Atlantic Wharf
McLaren has been confirmed as the winner of the deal to build a new arena in Cardiff after the consortium behind the scheme and the local council reached financial close on the job.
The value of McLaren鈥檚 deal has not been disclosed but is understood to be around 拢280m.
The firm first emerged as the winner of the 16,500 capacity venue last October, having pipped remaining rival Vinci to the work.
The job is being developed by the city council and entertainment operator Live Nation and its partner Oak View Group 鈥� the firm behind the Co-op Live arena in Manchester.
Also working on the deal, which is part of the wider transformation of Atlantic Wharf in Cardiff Bay, is Robertson Property 鈥� part of Scottish construction and development business Robertson Group.
Underlining the significance of the announcement, business and trade secretary Jonathan Reynolds said: 鈥�Our creative industries are world-leading and this is another clear vote of confidence in our economy and the UK鈥檚 position as a global creative superpower.鈥�
The arena has been designed by Populous and is part of the first phase of work at Atlantic Wharf which will also include a hotel and associated parking.
The council is leading the regeneration masterplan for the wider 30 acre redevelopment which it hopes will help transform Cardiff Bay into a top-tier visitor attraction for Wales and around the UK.
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