Teams to Invest At Least $10B in New Stadiums

    • U.S. sports teams are looking to spend at least $10 billion in new stadium projects, often incorporating dining and hospitality.
    • The facilities often incorporate new technology around cleanliness and payments.

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A new era of stadiums and arenas is unfolding with visions of a more holistic fan experience.

The Oakland A’s, for instance, are seeking to move from a no-frills stadium near an international airport to create a $12 billion downtown development that would include 3,000 residential units, 1.8 million square feet of commercial space, a performance venue, and a hotel.

In all, teams are likely to invest at least $10 billion in new and renovated stadiums and arenas in the U.S. alone by 2030.

  • The soon-to-be-renamed Washington Football Team is angling for a domed stadium in Northern Virginia estimated to cost at least $2 billion.
  • Inter Miami CF is seeking city approval for a $1 billion stadium and surrounding commerce area.
  • The Buffalo Bills have proposed a $1.4 billion project.

SoFi Stadium, home to the Los Angeles Chargers and Rams since 2020, cost $5.5 billion. The stadium project included a performance venue and pedestrian walkway.

Other teams looking to move or upgrade include the Kansas City Royals, Tampa Bay Rays (who want stadiums in Florida and Montreal), Chicago Bears, and the Philadelphia 76ers.

Technological Enhancements

New stadiums are also coming with a suite of innovations, including touchless commerce, air filtration systems, and carbon neutrality, following the lead of Seattle’s Climate Pledge Arena, which opened at the start of this NHL season.

“Almost every arena will try to be carbon-neutral going forward,” Climate Pledge developer Oak View Group CEO Tim Leiweke told CNBC.