Trinity buys O2 Arena

15 October 2009

Trinity College has gone through with its planned purchase of the 02 arena in south-east London. Confirming the rumours, reported last week by TCS, the college bought the holding company of the 999 year lease for £24million. Trinity will take a cut of all future box office revenues as the rent it charges the operator, Anschutz Entertainment Group  (AEG) is linked directly to ticket sales. In return for its investment, Trinity can expect annual revenues in excess of £1.6million.