• Loading stock data...
Friday, December 13, 2024

Anaheim Approves $4B Project Surrounding Home of NHL’s Ducks

  • The 100-acre development — called “ocV!BE” — is expected to be completed by 2025.
  • It will be a potential site to host events for the 2028 Summer Olympics in Los Angeles.
OCV!BE

A new $4 billion mixed-use entertainment district development project surrounding the Honda Center — home of the Anaheim Ducks — has been approved by the Anaheim City Council. 

The project will be fully funded by the Samueli family, who bought the Ducks in 2005 for $70 million. The team is valued at $620 million as of December 2021 — ranking 24th in the NHL. 

  • The 100-acre development — called “ocV!BE” —  is expected to open in 2024.
  • It will be a potential site to host events for the 2028 Summer Olympics in Los Angeles.
  • Plans include a 5,700-seat concert hall, office buildings, two hotels, shops, and dining.
  • It will also have 195 reserved affordable housing options, with 1,500 apartments planned.

The project’s approval is the final step in a process that was started by the Samueli family in 2020. 

In August, the Anaheim Planning Commission voted 5-0 to approve the project, which was once proposed to be near Angel Stadium — the home field of the Los Angeles Angels  — before a deal over a nearby land purchase collapsed under regulatory scrutiny and an FBI investigation. 

Great Timing 

After low profits due to the pandemic, the NHL salary cap is reportedly set to rise by around $10 million over the next three years.

The league’s cap for the 2023-23 season will reach a record $82.5 million and could rise $1 million in 2023-24, then jump another $4 million each of the following two seasons.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

NBA Cup Prize: Every Player Wants the Money, But One Would Get..

Each player on the championship team will win nearly $515,000.

Manchester City Is a Mess. It’s Still Breaking Revenue Records

As on-field losses mount, the Premier League giant reports record revenue.

Belichick Makes UNC Intentions Clear: ‘I Didn’t Come Here to Leave’

North Carolina formally introduced Bill Belichick on Thursday.

NBA Cup Schedule May Benefit Losing Teams, League Exec Defends Format

An NBA executive told FOS all stakeholders agreed on the format.

Featured Today

The Top-Secret Operation to Create the Army-Navy Football Uniforms

The two-year process includes dozens of employees, NDAs, and military historians.
Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena
December 9, 2024

‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern

A season after Jontay Porter, the biggest risk may not be players.
Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion
December 7, 2024

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
December 6, 2024

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.

New Sixers Arena Clears Key Philadelphia City Council Vote

The team still needs one more vote to move ahead.
Nov 3, 2024; Harrison, New Jersey, USA; New York Red Bulls midfielder Lewis Morgan (9) heads a ball during the first half against the Columbus Crew in a 2024 MLS Cup Playoffs Round One match at Red Bull Arena.
December 11, 2024

MLS Team to Play in ‘Sports Illustrated Stadium’ in $100M Naming Deal

It’s a partnership with a sister ticketing platform company, not the magazine.
Speaker of the House Mike Johnson responds to reporters questions while departing a press conference at the U.S. Capitol in Washington, D.C. on Tuesday, Sept. 24, 2024.
December 12, 2024

RFK Stadium Bill Making Quiet Progress in Congress

It gives D.C. control of the 174 acres underneath the old stadium.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
December 10, 2024

Manfred Reinforces MLB Interest in Tampa Remaining Rays Home

The commissioner meets with state and county officials to support the Rays.
Dec 7, 2024; Washington, District of Columbia, USA; Washington Wizards guard Jordan Poole (13) reacts after the final horn against the Denver Nuggets at Capital One Arena.
December 10, 2024

Capitals, Wizards Owner Monumental Aims to Drive ‘Downtown D.C.’s Comeback’

Monumental Sports, which owns the Wizards, is ready to anchor a D.C. comeback.
December 6, 2024

Las Vegas Doubles Down on Sports With $1.75B Ballpark and NBA Arena

Ballpark and arena projects in the booming sports market receive key approvals.
December 5, 2024

Rays Reversal: St. Pete Approves $287M Stadium Bond Package

The approval gives the embattled project a big dose of resurgent energy.