Luna Park redevelopment plan unveiled with 2027 target

The iconic Luna Park stadium in Buenos Aires, long regarded as one of the flagship venues of Argentina’s live entertainment scene, will close its doors temporarily as it embarks upon a major renovation led by domestic and international promoters.

In a landmark deal confirmed June 25, Estadio Luna Park SA agreed to hand over the management of the venue to DF Entertainment and Live Nation ahead of a major renovation and expansion project.

The ambitious overhaul, which pairs one of Argentina’s leading entertainment firms with a global concert giant, will involve major structural works and a capacity expansion, with a grand reopening scheduled for late 2027 – in time for the 100th anniversary of the venue’s inauguration in 1932.

The project, which is awaiting approval by the Buenos Aires City government, will preserve Luna Park’s iconic façade while modernising the venue to meet international standards in acoustics, accessibility and audience experience. 

According to local outlets, the firms will invest a reported US$34 million into the project, though that figure has not been confirmed.

“In light of the new challenges presented by today’s cultural landscape, we hope this new chapter will offer the public a comprehensive, high-quality experience, while also enriching the cultural life of the City of Buenos Aires and strengthening its position as an artistic beacon in the region,” said the shareholders of Estadio Luna Park SA in a joint statement.

Once reopened, the revamped Luna Park is expected to host around 150 events per year, combining international tours and domestic acts across music, sport and performing arts. 

The upgrade aims to position the venue as a modern and competitive option in an increasingly crowded market, which includes the Movistar Arena and Obras Sanitarias stadium in Buenos Aires, as well as the Live Arena in Malvinas Argentinas.

Bidding process

DF Entertainment and Live Nation were selected after a private bidding process that reportedly drew 12 proposals, including one from ASM Global, which co-manages the Movistar Arena in partnership with La Nación. 

The winning consortium, led by DF founder Diego Finkelstein, promised a sweeping yet respectful transformation of the venue, which was declared a National Historic Monument in 2007. 

The plans have been approved by the Comisión Nacional de Monumentos, de Lugares y de Bienes Históricos.

“It’s a tremendous honour to have been chosen, together with our partners at Live Nation, as the sole entities responsible for renewing the most important cultural venue in Argentina’s history,” said Finkelstein in a press release. 

“We will bring the full strength and expertise of DF Entertainment and Live Nation to this unprecedented transformation, ensuring Luna Park continues to be a global reference point for artists, shows of all disciplines and genres, elite athletes, and fans – while honouring its historic legacy,” he added. 

Michael Rapino, CEO of Live Nation, described the partnership as a natural fit: “Buenos Aires is one of the world’s great music cities, and Luna Park is at the heart of it. We’re honoured to be part of the revival of this historic venue as we continue to connect the best artists in the world with the music fans of Buenos Aires.”

The renovation comes after years of discussion about the future of the venue, which has not undergone significant upgrades since the mid-20th century. 

Redevelopment plans

Despite its faded infrastructure, Luna Park has served as a symbolic and functional space for generations of Argentines. From historic boxing nights starring the likes of Carlos Monzón and Ringo Bonavena, to concerts by Frank Sinatra, Mercedes Sosa, Astor Piazzolla and countless international stars, the stadium has also played host to countless cultural milestones – including a visit by Pope John Paul II in 1987.

Under the new plans, all exterior façades and historic signage will be preserved. A museum will be created to honour the venue’s past. Internally, the stadium will be equipped with improved acoustics, upgraded sightlines, expanded food and beverage areas, premium suites and new technical facilities. 

Its capacity will be increased, though no specific figure has been officially released.

The stadium is owned by the Salesian Society of San Juan Bosco and Caritas, represented by the Archdiocese of Buenos Aires, who inherited the property following a bequest from Ernestina Devecchi de Lectoure. 

According to domestic media, the Church has granted the venue under concession in a deal worth a reported US$1 million per year, though the contract length has not been publicly disclosed. Sources have suggested a term of at least 20 years, with possible renewal.

Pope Francis, who served as Archbishop of Buenos Aires before becoming pontiff, is said to have followed the bidding process closely and encouraged transparency throughout.

– TIMES