An OJEU notice for the £20m-30m contract has now been published and contractors have until February 8 to register their interest.
The 5,000 seater arena will include a velodrome cycle track and will be built next to Derby County’s Pride Park stadium.
The project has been designed by Mace who will work with the winning contractor.
Mace Project Director, David Grose, said: “We have designed an iconic building which will complement Pride Park Stadium, but will also function as a stand-alone facility.”
Construction of the new arena is due to start in May with completion scheduled for March 2014.