The Buffalo Bills want a $1.3 billion new stadium in the National Football League. Chicago Bears spend $197 millionTo acquire land which could become their next home.

FedExFeld is falling apartWashington Football Team. lobbying for a new stadium in Virginia. There are a few Major League Baseball clubs, such as the Kansas City Royals, Oakland AthleticsAnd Tampa Bay RaysYou want to see new parks.

Los Angeles Clippers are already building their $1.2 million arena in the National Basketball Association. Although the Philadelphia 76ers have their sights set on them, it is possible that they are targeting Dallas Mavericks. There’s also the National Hockey League. the Phoenix Coyotes.  

The teams are looking to upgrade their venues and are willing to invest over $10 billion in development. Teams are now looking to expand their revenue streams beyond the major sports leagues in America. They can do so by creating and revitalising arenas.

With new buildings, sports clubs are able to attract sponsorship deals and lucrative naming rights. Real estate is another potential option. Many franchises, including the Milwaukee Bucks and Atlanta Braves, use their new buildings to anchor large real estate development projects. The development creates more income for the team.

Yet, the debate continues about funding sports projects. What will happen in an environment post-pandemic?

CNBC spoke with executives regarding the future of sports arenas and stadiums.

The new buildings “are more focused on providing premium seating projects to satisfy the market’s demands,” said Dan BarrettPresident at CAA Icon (the stadium- and arena planning division of CAA Sports).

Jon Ledecky (New York Islanders) stated that they are competing with the televisions in your living rooms, which is 80 inches. He opened UBS Arena in November 2021 for $1 billion.

“All these new arenas will have to give fans a reason to get up – go to their car and come to the event. Ledecky stated that fans won’t be able to enjoy a world-class game if it doesn’t offer them a great experience.

Mulvihill referred to James Dolan, New York Knicks’ owner and Madison Square Garden as examples of possible future experiences. Mulvihill pointed out James Dolan, New York Knicks owner and Madison Square Garden’s project in Las Vegas. MSG Sphere, a $1.8 billion entertainment venue, will feature tech that allows spectators to hear concerts in different languages and an infrasound haptic system – a vibrating floor.

Mulvihill stated that he believes some of his ideas, such as how to see a concert differently, can be transferred to the sporting arena. Mulvihill said, “If this technology works and is simple to use it can be transferred to other venues.”

UBS Arena was constructed during the pandemic. This caused delays. Oak View Group was able to rise to the challenge, investing $2.2 million.2 million in germ-killing air flirtation systemsThere are many other teams that might consider installing this.

Climate Pledge Arena, Seattle’s home for the NHL’s Kraken, is another 2021 Oak View project. The Kraken’s new home was praised by executives, who noted that it is carbon-neutral as well as powered by electricity and solar.

Oak View CEO Tim Leiweke said that almost every area will strive to go carbon neutral in the future. “I believe that you’ll see more dedication to sanitation.”

Grab-and-go technology is also used in the arena AmazonCustomers can pay online for products without the need to visit a cashier. Amazon pioneered this concept. this technologyIn some convenience stores and grocery shops.

Barrett from CAA Icon — which oversaw Climate Pledge and the Golden State Warriors’ Chase Center in San Francisco — thinks facial recognition tech, automated concessions, and robotics will also expand.

“Climate Pledge [Chase Center]He stated that they have raised the bar in terms of technology, fan engagement and overall fan experience. That’s when the Clippers building goes online. Given Ballmer’s history, I am certain he will want to play for the Clippers. [Intuit Dome]”To be the standard going forward.”

IntuitDome will feature a Halo videoboard with 44,000 square feet LED lights. It also has walk-out technology for concessions. 

Tillis stated that “in five to ten years time when Ballmer has finished, some of these older buildings will look really, really, really fast.” “They will look like dinosaurs.”

2016 the Brookings InstituteA paper was published opposing the funding of stadiums with public funds. This report estimates that tax-exempt municipal bond used for pro sport venues financing cost taxpayers more than $3 billion between 2000 and 2014.

Leiweke who helped the Islanders to get private funding to construct UBS Arena agrees it is best to stay away from public money.

Leiweke stated that “Municipalities, states, and other entities should be investing their money in schools, education and transportation and life safety.” There is an evolving thinking about what we should do with our money. [privately]He said that the company would finance and manage these facilities to generate new revenues in the future.

Most teams can leverage public money to solicit it. They may even threaten relocation if they do not get it. It can have a negative impact on local economies. But after St. Louis sued the Rams for departing in 2016 – receiving a $700 million settlement – teams will probably think twice before relocating.

Pegula Sports and Entertainment owner of the NFL’s Buffalo Bills is expected to pay the State for the new venue.

Engineering company AECOM published a report estimating the cost of a $1.35 billion price tagFor a new stadium near Highmark Stadium. A minimum of $300,000,000 more is projected for a downtown venue. Highmark’s lease expires July 2023. Bills owners want to continue operating the facility in new form. 60,000-seat fieldBy 2027

Mulvihill answered the question “These are long-term decisions, 20-30 year decisions for owners and cities. These decisions are not affected by the 10 percent rise in building costs.

Barrett estimated that up to $15Billion would be invested over the next 15-years in new sports venues. When you add renovations, that estimate jumps to $20 billion. Mulvihill, Barrett, and Barrett suggest that there will be more remodels than new constructions.

It Jacksonville JaguarsThe NFL’s most recent remodel efforts include the Green Bay Packers and Green Bay Packers. The Packers raised funds by issuing bonds. $90 million of public stockLambeau Field renovations to be funded at $250 Million

Barrett said that there will be significant investment over the next 10-15 years, with Major League Soccer champions NYCFC and other teams looking for new stadiums.  

Clippers aligned nearly $1 billionIntuit Dome’s partnership agreements and name naming. It is expected to open its doors in 2024. Paul Danforth of CAA Sports said that fintech and cryptocurrency companies are keen to make a name for themselves in the digital age by investing money in sports.

Danforth warned that markets such as Buffalo should not expect huge deals like the Los Angeles team, but it is still an opportunity for brands in New York State and beyond to enter the NFL.

Danforth said, “In years past they couldn’t afford naming rights. These businesses are growing so fast that their chances of being in these conversations is increasing. This is a rare opportunity. “That’s why brands desire to be associated with them,” said he.