Arēna Rīga to be renamed “Xiaomi arena” for a period of five years, as the media were told by representatives of LLC Arēna Rīga.
Chairman of the Board of Arēna Rīga Ģirts Krastiņš told LETA that the arena’s development will be facilitated through cooperation with Xiaomi. This will allow the company to focus on innovations.
He mentioned that cooperation with Xiaomi will encourage technological innovation, including the introduction of new screens in the foyer of the arena, as well as, in general, more and more plans to abandon banners and papers using more sustainable technologies – digital screens.
The cooperation between Arena Riga and Xiaomi envisages that Xiaomi will make payments to Arena Riga and these funds will be used to improve and maintain the arena’s infrastructure, Krastiņš said, adding that in cooperation with Xiaomi, it is also planned to work on improving the sound technologies of the Xiaomi Arena during sports events, so that visitors can better hear the event applicants and enjoy the event more fully.
He also mentioned that the two sides have agreed to not disclose the price of the deal.
Krastiņš also said the investment amount for Xiaomi arēna will change annually across its development, reaching EUR 300 000 to EUR 700 000.
The Chairman of Arēna Rīga also said the arena’s financial flow was limited during the Covid-19 pandemic, so investments reached approximately EUR 200 000 to EUR 300 000. The current investments, however, reach an average of EUR 500 000 a year.
In 2023, LLC Arēna Rīga operated with a turnover of EUR 5.748 million, which is 2.5 times more than a year earlier, the company’s profit has also increased several times, reaching EUR 789 441.
Arēna Rīga was founded in 2005. Its base capital is EUR 4 million. Its sole owner is Juris Savickis’ LLC Glesum Investments.