The Arena project has three partners, Leicester Riders, Leicester College, and Leicester City Council. All are providing funding, along with the Sport England and the Leicester & Leicestershire Enterprise Partnership (LLEP).
LCC owns the site at Charter Street and will provide a long term lease of the site (125 years) to a new company, Leicester Community Sports Arena Limited (LCSAL), owned by the Rider’s charity (Leicester Riders Foundation), with the company paying a commercial rent for the site.
The Arena project is being designed to allow the potential for the development of future additional facilities on site.
The Charter Street site was selected by the City Council following a detailed site selection process, which involved 10 possible locations around the city, and involved all relevant stakeholders, over the period from September to December 2013. It is noted the location is on a route of Connecting Leicester (to Abbey Park).
The £4.5m Project also includes remediation of the (currently contaminated) site at Charter Street, and the provision of car parking and landscaping.
The Arena project build will be led by the Riders through LCSAL, with an agreed management and governance structure with the Council and Leicester College.
The Arena will be operated on a not-for-profit basis with all surpluses re-invested in the Arena, or in sports community outreach activities in deprived local communities, as are already being delivered by the Riders through the Leicester Riders Foundation.
The Arena Business Plan leverages the very large community development programmes of Leicester Riders. The Arena will deliver highly structured community sports participation opportunities for the community.
The project is designated the Community Arena Project (CAP), and is targeted for completion in late 2015.