Millennium Dome the dome's new owners, the Anschutz Entertainment Group, to a design by HOK SVE and Buro Happold. It cost £600 million, and the resulting venue opened to the public on 24 June 2007, with a concert by rock band Bon Jovi. During the 2012 Summer Olympics, the artistic gymnastics events, along with the medal rounds of basketball, were held at The O2. It also held wheelchair basketball events during the 2012 Summer Paralympics. For sponsorship reasons, during those times the arena was temporarily renamed the North Greenwich Arena. Issues related to the Dome damaged Peter Mandelson's and John Prescott's political
Millennium Dome estimated at £48 million, which could have been realised by demolishing the structure, but it was considered preferable to preserve the Dome. The dome was publicly renamed as The O2 on 31 May 2005, in a £6 million-per-year deal with telecommunications company O2 plc, now a subsidiary of Telefónica Europe. This announcement, which presaged a major redevelopment of the site that retained little beyond the shell of the dome, gave publicity to the dome's transition into an entertainment district including an indoor arena, a music club, a cinema, an exhibition space and bars and restaurants. This redevelopment was undertaken by