Events promoter and venue operator Live Nation has confirmed it will cease operating the Cardiff Motorpoint Arena if it wins a bid to operate a new, 15,000 capacity venue in the Welsh capital.

The new venue was announced in November last year. It will provide a capacity in between the Motorpoint’s 7,500 and the Municipality Stadium’s 75,000.

It is part of a £500m redevelopment project, which will also feature retail space, apartments, restaurants, a cinema complex, hotel and multi-storey car park.

An artist’s impression of what the new venue could look like

Cardiff City Council’s cabinet member for investment and development, Russell Goodway, revealed when announcing the project: “There has been significant interest in this project from a variety of arena operators in the UK.

“Live Nation, the current operator of the Motorpoint Arena and one of the world’s leading event promoters, has also approached the Council and it has confirmed in writing they would cease to operate the existing Motorpoint Arena if they were successful in securing the operator lease for the new facility.”

The Council has approved permission for design work to progress on the new venue. This is expected to be considered in May, and a planning application may be submitted as early as September.