U2 considering O2 Arena residency

McGuinness has said the band, whose latest album will arrive later this year, may consider playing multiple dates at the venue.

"The O2 has got great potential for U2," he said, "and because it’s undercover you can do a run of shows in the autumn."

U2 would follow in the footsteps of Prince, who played a massive 21-date run of shows in the former Millenium Dome last year.

Other big acts believed to be eyeing up the Arena include Oasis and Coldplay.