By Eurohoops team / info@eurohoops.net
FC Bayern Munich and energy drink brand Red Bull have announced that they will collaborate to develop a new multi-purpose stadium in Munich.
Plans are for the two parties to work together to renovate the old Olympic Velodrome, converting the arena into the new home stadium for the FC Bayern Munich basketball side and ice hockey team EHC Red Bull Munich.
The arena, which is due for completion in 2019, will have a capacity of around 10,000. Work will cost around US$106 million.
Red Bull’s Austrian founder Dietrich Mateschitz has suggested this money will be recompensed through rental income generated by the stadium.
Mateschitz also reflected that recently reinstated Bayern Munich president Ulrich Hoeness was crucial in driving the deal forward.
FC Bayern Munich currently play home games at the Audi Dome, which holds around 6,700. EHC Red Bull Munich compete at the Olympic Stadium, in an arena which also has a capacity of just over 6,000.