FTSE 100 fund manager Intermediate Capital Group is reportedly in talks to buy OVO Wembley Arena (cap. 12,500) after the venue’s owner Quintain put it up for sale.

As reported by React News, Quintain, owned by US private equity giant Lone Star, is looking to sell the ASM Global-operated arena for around £50m after numerous parties showed interest.

The arena was acquired by Quintain in 2002 as part of its purchase of 44 acres of land at Wembley Park. Its management contact with ASM Global runs until 2028.

Quintain, which is also rumoured to be looking to sell the neighbouring London Designer Outlet, expects its net operating income from OVO Wembley Arena to total about £3.1m in 2022.

Shows taking place at the venue this year include HallyuPopFest (9-10 July), The Libertines (23 July), BKFC London (20 August), Billy Idol (19 October) and The Cure (11-13 December).