PACHA Nightclub Group Sold For €350 Million Euros

Ibiza Nightlife seems to have taken another blow recently, after the closing of the world renowned Space nightclub, is joined by the sale of the equally famous PACHA Nightclub Group. Pacha founder Ricardo Urgell, has recently agreed to sell the nightclub group for €350 Million, as he claimed he could no longer stomach Ushuaia owners the Matutes family.

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.”

Ricardo Urgell hopes that the new club owners will retain some of the magic that he invested into the clubs, and would like to see the nightclub group grow, in a healthy magical way that will continue to invite clubbers to make memories within its walls.