NEC Group put up for sale by Birmingham City Council

The GMB Union says they're pleased Birmingham City Council intends to honour equal pay settlements for women but is concerned about jobs and costs for users if the NEC group is sold off. The council says it can't afford to invest in the complex and help it grow.

Birmingham City Council has announced it is selling off the NEC group. The council, which is facing a £1.1 billion bill for equal pay settlements, says it wants to ensure its existing uses are preserved.

The venue is one of the biggest exhibition centres in Europe and also houses the 16 thousand seat LG Arena which hosts concerts and conventions.

Watch Callum Watkinson's report on the council's decision to put one of the city's best-loved assets up for sale.

Calling today's announcement "historic", Council leader Sir Albert Bore said the sale was necessary for the venue and events company to grow.

"The NEC Group has reached a point in its evolution where it needs to be able to adopt the financial disciplines of a private, rather than council-owned company," he said.

READ: NEC group put up for sale by Birmingham City Council

Birmingham City Council is putting the NEC Group up for sale. The group includes the National Exhibition Centre, the International Convention Centre, the National Indoor Arena and the LG Arena.

It is claimed the group brings in four million visitors and £2 billion to the region every year, and supports 30,000 jobs.