Belgrade Arena faces sale due to city's financial woes

Belgrade's iconic Arena is slated for a de facto sale in the coming months, a move attributed to the city's dire financial state and mismanagement, according to Nikola Jovanović, director of the Center for Local Self-Government (CLS).

Jovanović expressed dismay over the potential privatization of a major city symbol, directly blaming the current city administration's incompetence. "It is sad that another symbol of Belgrade is going into the private domain, exclusively due to the inability of the current city administration," the CLS statement read.

N1 has reached out to the City Secretariat and the Belgrade Arena for comment on these allegations, inquiring about the planned sale, negotiation timelines, involved parties, and the reasons behind it. Responses are pending.

Reports suggest the sale will occur under a public-private partnership model, with negotiations already in progress with three potential buyers. Jovanović estimates the private partner's investment would be approximately 30 million euros, a sum he considers minor compared to the Arena's overall value and initial construction costs. He voiced concern that more city assets might be leased to foreign entities under the current leadership.

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