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The reconstruction of the Palacio de Deportes following the fire on 28 June, 2001, has given rise to a modern and progressive multifunctional building. With a budget of 124 million euros, ARPROMA, a public company dependent on the Madrid Regional Government Treasury, commenced the work in February, 2002. The decision was made to maintain the structure which formed the Salvador Dalí Square and Felipe II Avenue facades as well as the rear structure in Fuente del Berro Street. The roof of the old Palacio de Deportes had been practically destroyed in the conflagration.
The recuperation of this space in Madrid, emblematic both for its history and its privileged location, was not prolonged and the building was opened on 16 February, 2005. Its seating capacity has been increased to a maximum of 16,000 spectators.
At present, the Palacio de Deportes is administered and exploited by Madrid Deportes y Espectáculos S.A, the company designated as the adjudicatee in the public tender called by the Madrid Institute for Sports, Leisure and Recreation (IMDER). The contract is for a period of 7 years until 2012, and is extendible for a maximum of three years.
The Community of Madrid (Madrid Regional Government), the general public and events organisers now have a building dedicated to sports and shows where the most demanding needs at every level are satisfied.
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THE PROJECT
