A consortium led by Sydney-based concert promoter Jacobsen Venue Management (JVM) and Miami-based promoter and venue owner Jack Utsick Presents has sealed a contract to develop and operate a new arena

A consortium led by Sydney-based concert promoter Jacobsen Venue Management (JVM) and Miami-based promoter and venue owner Jack Utsick Presents has sealed a contract to develop and operate a new arena in Auckland, New Zealand.

Negotiations on the NZ$80 million ($50 million) indoor entertainment venue Quay Park began eight years ago, according to JVM chairman Kevin Jacobsen, who takes the role as executive chairman of the Quay Park Arena Management (QPAM) consortium.

Construction on the 12,000-seat venue begins in June, and is expected to conclude at the end of 2005. Elton John, the Who and Robbie Williams are among acts lined up for concerts, according to Auckland Council's recreation and events committee chairman Scott Milne.

Under the terms of the partnership, QPAM and the City of Auckland will jointly fund the development of the site, with QPAM contributing NZ$11 million ($6.9 million). QPAM retains the right to operate the arena for 40 years before ownership reverts to the City of Auckland.

Jacobsen is joined on the QPAM board by JVM executive directors Michael Jacobsen and Amber Jacobsen, and Jack Utsick, founder of Jack Utsick Presents.

"This is a milestone for the collaboration between myself and the Jacobsen Group in Australasia," comments Utsick on the decision. Utsick has an existing partnership with Jacobsen Group through Jacobsen-Jack Utsick Presents, established in January to promote large-scale shows in Australia and New Zealand.

In the past three years, Jack Utsick Presents and Jacobsen Group have co-promoted Australian tours by Bee Gees, Elton John and Shania Twain.