New sports arena based on Madison Square Garden on the cards for Dublin
A €225million worldclass sports and concert arena based on the famous Madison Square Garden in New York is on the cards for Dublin – if the Government stumps up €66 million towards it.
The new 6,000-8,000 seater indoor stadium will feature two Olympic-sized ice rinks for winter sports games and would also be used to host top-level basketball and international tennis fixtures.
The proposed development, at Cherrywood, south Dublin, would see major ice-hockey teams from the US, Canada, the UK and Europe compete, while it’s envisaged that a professional Dublin-based team similar to the successful Belfast Giants would be located there.
Pic: Getty Images
And the arena would be designed for activities other than sport too, with 50-70 events annually, including concerts, international exhibitions and corporate events.
A company called Prime Arena Holdings announced plans for the arena in 2024 and now says it is ready to go ahead – if the Government lends a hefty financial hand.
Prime Arena Holdings is backed by MCD founder Denis Desmond, Setanta and Premier Sports founder Mickey O’Rourke, and tech investor and Hostelworld co-founder Tom Kennedy.
Charlie McConalogue. Pic: Gareth Chaney/ Collins Photos
John Hume and Eoin Brophy, founders of public affairs firm Hume Brophy, are also on board, as is financier Helen Work.
Earlier this week, Dún Laoghaire-Rathdown County Council moved to change the zoning rules on the site to allow it to proceed to planning.
The huge development will feature two Olympic-sized ice rinks under one roof – one for major international sport and entertainment, and the second for schools, community access and grassroots development.
Madison Square Garden. Pic: Getty Images
An analysis by Professor Tony Foley from the DCU Business School showed that the arena could deliver €298 million in economic activity annually and support 2,409 jobs and bring in 67,500 international visitors per year.
Dermot Rigley, the chief executive of Prime Arena Holdings, wrote to Enterprise Minister Peter Burke in November to outline the business case for the development, according to documents obtained under the Freedom of Information Act.
He wrote: ‘A one-off State contribution of €66million (29% of €225million) will unlock €159million in private investment, significantly below the public-funding norms for comparable European venues and well under national benchmarks such as the Aviva Stadium (47%) and Croke Park (42%).’
The arena is designed by Populous, the architects behind landmark venues such as the Sphere in Las Vegas and the Tottenham Hotspur Stadium in London.
In a business plan, the minister was told Prime Arena is working directly with the US and Canadian National Hockey League (NHL) to bring major teams such as the Boston Bruins and the Toronto Maple Leafs to Dublin for a launch series.
Referring to the recent American football game in Dublin in September, Mr Rigley added: ‘The Prime Arena will enable Ireland to build on this momentum by hosting NHL Global Series games, US National Basketball Association showcase fixtures, tennis events, and other major international tournaments, further elevating Ireland’s position.’
Government sources noted that any decision around funding would be a whole-of-Government decision and too big for any one department to make, adding that it was a ‘hell of a lot of money’.
‘You could be building four swimming pools, probably, around the country for the same price as what they’re looking for,’ they added. Mr Rigley said the indoor arena would host more than 50 entertainment events annually, as well as sports tournaments, conventions and major business events.
The business case also said that a professional ice hockey team would be launched in Dublin, and that they would work with the
SSE Arena in Belfast – where the Belfast Giants are based – to launch joint bids for international ice hockey tournaments.
Peter Sherrard, CEO of the Olympic Federation of Ireland, contacted the minister to say the organisation was supportive of the move. He wrote: ‘The proposed ice facility will play a crucial role in social integration, particularly for the large numbers of people with Eastern and Northern European heritage in Ireland.’ He said it would also offer opportunities for age and disability inclusion, ‘ensuring that winter sports are accessible to all’.
Junior sports minister Charlie McConalogue told Extra.ie the proposal ‘contains many exciting elements with potential economic benefits for Dublin and the country as a whole’.
He added: ‘The proposed development is much more than a sport project, therefore it requires consideration across a number of departments.’
A spokesman for the Department of Sport said: ‘Project promoters are engaging with a number of departments to examine the economic, tourism and other fiscal benefits that the development could deliver.’
