History
The project of the arena started on 1989 when the Asociacion para el Fomento de Deporte y Recreacion A.C, led by the businessmen Jorge Lankenau and Hernan Garza presented the project to the then president Carlos Salinas. The project gained support from the Government of the State of Nuevo León who gave the land for the arena to be constructed within the limits of Fundidora Park.
The arena was originally planned to begin construction in May 1992, and finished by 1993, but the construction actually started on January 1994, and was planned to be finished by 1996. However due the 1994 economic crisis in Mexico, on May 1995 the project suffered a slowdown in the construction industry and finally came to a complete halt by 1996, due the lack of economic resources.
In April 2001 the Government of the State of Nuevo León invited 11 groups of investors to discuss the possibilities of restarting the construction of the arena. On June 1, 2001 the government announced that there were only 5 groups of investors willing to take over the debt and finish up the project and 2 weeks later, Publimax S.A. de C.V. was announced winner of the contest because it was the group with the most money eager to invest in the project (50 million USD). Before the construction was restarted, Hernán Garza accused the government of illegally revoking the concession that was given to him to build and finish the project. The government revoked the concession because of the halt of the project in 1995, but Garza alleged that the economic crisis obliged him to stop it for some time. This, among other problems such as the government delay in giving full control of the arena and Publimax rejecting to do any investment until the control was fully given (which happened in July 2002), caused the project to restart by the end of 2002 with an estimated finish date by the first trimester of 2004.
However, by the last trimester of 2003 the project was almost completed and the first event in the arena took place on Thursday November 27, 2003, with a concert performed by Mexican singer/songwriter Juan Gabriel.
Read more about this topic: Monterrey Arena
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