NFL Owners Approve Stadium Proposals Across League; Forbes Pegs Golden Knights’ Value At $965 Million
ADVERTISEMENT
ADVERTISEMENT
By Alan Snel, LVSportsBiz.com Publisher/Writer
Billion-dollar media rights deals have fueled the NFL’s ascension as the most powerful revenue-generating sports league in the U.S.
But new stadium and improved venues help, too, with the 32 teams’ bottom lines.
LVSportsBiz.com reported this week that the Raiders are pursuing $7.5 million in stadium improvements.
The NFL owners have also approved two new stadiums in Tennessee and Buffalo and improvement projects at stadiums of the Cowboys, Ravens and Broncos, according to Front Office Sports.
The Tennessee Titans are looking to build a $2.1 billion stadium, while the Bills are working on a $1.4 billion stadium project. The Cowboys have planned upgrades valued at $295 million, while the Broncos plan a $100 million improvement of Empower Field at the site of the old Mile High Stadium. The state of Maryland plans $1.2 billion in renovations at the Ravens’ M&T Bank Stadium and the MLB Baltimore Orioles’ Camden Yards.
Speaking of the stadiums, Allegiant Stadium’s 24 concert shows in a 12-month period from Nov. 1, 2021 through October 2022 grossed $182.5 million, tops for any stadium in the world.
Pop group BTS generated nearly $36 million during its four dates in April. It should be noted that T-Mobile Arena, with 58 shows grossing nearly $125 million, finished fourth in its category, while MGM Grand Garden Arena finished third in its arena size category with 27 shows grossing $45 million during the 12-month period. Las Vegas-based MGM Resorts International is part-owner of T-Mobile Arena and owns MGM Grand Garden Arena.
*
Speaking of sports venues, the MLB Tampa Bay Rays — the other MLB Bay-area team desiring a new ballpark besides the Oakland Athletics — are looking at ballyard proposals in both the cities of St. Petersburg and Tampa.
The plan calls for a domed ballpark in the Ybor Channel of Tampa that would link the Ybor City and Channelside areas of Tampa.
The Rays’ lease at the domed Tropicana Field in downtown St. Pete ends in 2027. The Rays floated a bizarre plan of playing half the season in Tampa Bay and half the season in Montreal, but MLB said no dice to that idea.
Both the Rays and Athletics are two of the lowest-drawing MLB teams struggling to come up with a new ballyard. The A’s are also looking two cities — Oakland and Las Vegas — for a ballpark answer.
*
Forbes business magazine said the Vegas Golden Knights were valued at $965 million, good for 16th in the 32-team National Hockey League. The VGK had operating income of $64 million, Forbes said.
The Rangers were the top valued team at $2.2 billion, with the Toronto Maple Leafs second at $2 billion, Montreal Canadiens third at $1.85 billion, the Chicago Blackhawks fourth at $1.5 billion and the Boston Bruins fifth at $1.4 billion. The top five teams are all Original Six clubs.
*
The NCAA has picked its successor to Mark Emmert. He’s Massachusetts Gov. Charlie Baker. who will take the reins on March 1, 2023, according to the Sports Business Journal. Baker is a big sports fan who played basketball at Harvard, but he has no college sports administration experience, SBJ said.
In other college sports news, UCLA is allowed to join the Big Ten conference as long as it takes “measures to mitigate travel and improve nutrition and mental health services for student-athletes,” SBJ reported.
With UCLA leaving the Pac-12 will UNLV get a chance to move from the Mountain West to the Pac-12?
Need a holiday gift? Buy Bicycle Man for $20 by emailing asnel@LVSportsBiz.com
