Work is underway in Madrid on one of Europe’s most significant multi-functional complexes, combining sport, entertainment, culture and education.

The €800 million initiative to regenerate the former Olympic Aquatic Centre in the north-east of the city, next to the Riyadh Air Metropolitano stadium, is being led by Barsento – a joint venture between Live Nation Entertainment, Oak View Group and Atlético de Madrid. The project will be developed on a 115-hectare municipal site granted on a 75-year lease.

Iberian operator, Go-Fit will oversee the sporting element, which will feature indoor and outdoor pools and have capacity for up to 9,000 users. Go-Fit's chief strategy and transformation officer, Steven Ward, says: “If there’s a finer project in our sector in Europe in the next few years, I am yet to see it.”

Playtomic will manage the 24-court padel centre; Topgolf and Callaway Golf will oversee the golfing area; and Wavegarden will develop a surf lagoon.

Live Nation Entertainment and Oak View Group will manage the arena’s concert and event schedule; Universidad Alfonso X el Sabio will lead the academic component and López Real Inversiones 21 will oversee the commercial zone.

The first three plots are expected to be completed between August and September 2026, with full operational capacity targeted for 2028, coinciding with the completion of the concert arena and university campus.

Atlético de Madrid believes Sports City will significantly boost economic activity around the Metropolitano. CEO Miguel Ángel Gil says the project follows years of work to secure investment and establish the right partnerships and mix of amenities.

“We have spent nearly 15 years looking for a way to bring this site to life, convinced that it could become the city’s finest leisure and entertainment destination,” he says. “The key has been finding truly complementary activities that will generate real value for the district.”

Mayor of Madrid, José Luis Martínez-Almeida, says: “Our city will be home to one of the most important entertainment, culture, education and sport complexes in the world. A unique space that, together with Ciudad del Deporte being developed by Atlético de Madrid, will establish the city as an international benchmark.”

Alfonso Arroyo, deputy to the president of Go-Fit, says: “At Go-Fit we promote a health and wellbeing prevention model. This initiative, integrated into a top-tier project, has been conceived to provide the neighbourhood with a highly anticipated space for local residents – designed for everyone – where wellbeing, connection and family enjoyment come together in a single, accessible and community-focused experience.”