BECAUSE OF EVER-GROWING DEBTS IN THE CITY’S COFFERS: Authorities are selling Belgrade Arena for 30 million euros!

Nikola Jovanović, director of the Center for Local Self-Government, said on Monday that the poor state of the finances of the City of Belgrade will lead to the sale of Belgrade Arena.

He took to social media and revealed the condition of the largest arena in Serbia.

“Due to the catastrophic state of the city’s finances, but also poor management, the leadership of the City of Belgrade will in the coming months proceed with the de facto sale of Belgrade Arena,” said Nikola Jovanović, director of the Center for Local Self-Government.

He then criticized the authorities.

“It is sad that yet another symbol of Belgrade is entering the private domain, solely because of the incompetence of the current city administration.”

He then explained how far the process has progressed.

“The transfer of Belgrade Arena will take place in the form of a public-private partnership, and negotiations are already underway with three potential buyers/partners,” Jovanović stated.

Jovanović emphasized that this is a harmful deal.

“The private partner’s investment in the Arena will realistically be around 30 million euros, which is a minimal amount compared to the total value of the property and the initial investment. It will be good if, by the end of this government’s term, Stari dvor does not also end up under a long-term lease to some foreigner.”