On Tuesday, Feb. 21, the Irvine City Council will hold a special meeting to discuss the proposed 14,000-seat Live Nation amphitheater for the Great Park. The matter, which was set to be discussed during the City Council meeting on February 14, was postponed at the request of Council Member Mike Carroll. The seating capacity of the proposed amphitheater will be the main topic of discussion at the special meeting on Tuesday night.
According to a staff report, Live Nation requested changes to the Design, Build, and Operational Agreement, which increased the project’s estimated cost by more than $20 million. The venue’s initial capacity was 14,000 seats. The staff report expressly notes that Irvine has been asked by Live Nation to finance the cost of building plans, which are highlighted as having an anticipated cost of at least $2 million. The removal of a Ticket Maintenance Charge, which divided a $5.00 ticket sale surcharge with the city at a 10% hike every three years, was another demand made by Live Nation.
The Council will eventually decide whether to build a 14,000-seat theatre or downsize to a 6,000-8,000-seat venue. A larger, 14,000-seat venue in Irvine is expected to cost around $150 million and bring in between $3.5 and $4.5 million a year. A smaller arena with 8,000 seats would be less expensive, costing between $80 and $90 million. The Staples Center in Los Angeles, presently known as the Crypto.com Arena, has a capacity of 20,000 people. The Greek Theater in Los Angeles, on the other hand, boasts 5,900 seats. The Hollywood Bowl, a well-known outdoor arena, can hold 17,500 people. The Irvine Barclay Theatre has 750 seats in total. The special City Council meeting will begin at 6:30 p.m.
