GET ON THE MOVE

$10 billion in stadiums by 2030

Sustainability, grab-and-go technology

Several sports teams are ready for new or upgraded stadiums and could invest more than $10 billion for development by 2030.
These new and revised stadiums could be smaller than current ones, but are likely to include high-tech enhancements.
Competing against the 80-inch television in the living room.All new arenas will have to give fans a reason to get up – go to their car and come to the event. If there is no first-class experience, people watch the game at home

Teams are are seeking venue upgrades and could invest more than $10 billion for development by 2030. The bigger U.S. sports leagues have already secured national media revenue, so now teams want to increase revenue in other areas.

New and revamped arenas are one way they can. Sports clubs can attract lucrative naming rights and sponsorship deals with new buildings. There’s also a potential real estate play, using new buildings as anchors for massive real estate projects. That development helps generate even more money for teams.

FUTURE ACTIVITIES

Who pays the bill?

Technological enhancements aside, there are still debates surrounding who should fund sports venues.

In 2016, the Brookings Institute published a paper against using public dollars to fund stadiums. The report estimated from 2000 to 2014, more than $3 billion in tax revenue was lost on tax-exempt municipal bonds used to finance pro sports venues.

it’s best to avoid public funds. Municipalities and states need to be spending their money on schools, education, transportation, and life safety,

Now there is an ever-evolving thinking going on about how to [privately] finance these buildings and operate these teams to find new revenue streams going forward, In most circumstances, teams have leverage when soliciting public dollars, and sometimes threaten to relocate if they don’t get the money. That can hurt local economies.

Up to $15 billion would be invested in new pro sports venues over the next 15 years. That estimate increases to $20 billion when calculating renovation projects.

We believe stadiums are an integral part of the broader built environment and communal space, with a capacity to contribute to the social fabric. Designs that engage, protect and connect with users and visitors are always at the forefront of our funding approach.