Trinty College Cambridge Buys The O2 Arena Site

One of the UK's foremost educational establishments, Trinity College Cambridge, has bought the site on which The O2 Arena is situated.

The ultra-rich college has forked out £24million to acquire Meridian Delta Dome, the holding company of the 999-year lease on the land.

The contract is potentially lucrative for the college as they get a split of ticket sales from the O2 Arena as landowners.

2008's rental income was £1.5million.  

Although Trinity College has leased the land, this will not affect concert promoters AEG's involvement with the venue.

The 23,000 capacity O2 is officially the world's busiest arena and has hosted high profile shows from the likes of Led Zeppelin, Prince, U2 and Metallica.