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Pacha Has Been Sold For €350 Million

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About a month ago we brought you the news that Pacha had been put up for sale. It now appears that the sale has gone through, with Pacha group, which includes the Ibiza venue Destino and all of the Pacha clubs worldwide, selling for a whopping €350 million. At the time, Pacha founder Ricardo Urgell claimed he could no longer stomach Ushuaia owners the Matutes family, it seems he was true to his word.

This could be another blow to the clubbing scene with Space closing earlier this month, it remains to be seen what kind of club the new owners have in mind and if some of the most loved nights, such as Mosaic by Maceo, will stay in the Ibiza Town hotspot.


In an interview with Diario de Ibiza, Urgell had this to say:

“I feel like an honest person trying to do the best possible, we have to want more for the island, invest in it, appreciate it and love her, so that we’re not only benefiting ourselves. People need to promote projects to improve Ibiza. It’s important that the island does not lose the magic.” 

He continued: “The island has spoiled areas that will be difficult to recover. If we continue at this pace, it will eventually move to the north of the island. Music should be controlled. We cannot have music everywhere.”

Here’s hoping that the new owners have music in their hearts and that the club retains some of the magic the Ricardo Urgell started there. 

Via Diario de Ibiza

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