Trends Point to a Future of Multi-Purpose Venues, Away from Single Sport Facilities

There is a trend in stadium/arena development to diversify venues, moving away from single purpose facilities that sit vacant for long periods during the calendar year, towards ones that can host a variety of non-traditional events (i.e. marathons, conferences, video game tournaments etc.) and draw spectators with varied interests. These new facilities are being built in more desirable locations (see: downtown) to encourage more visitors to attend. Flexible venues are also easier to finance with multiple parties contributing; as the public funding that used to subsidize the development of new sports facilities has, for the most part, dried up.

Howie Long-Short: New stadium construction can now cost more than $1 billion, so it makes fiscal to maximize ancillary revenue from stadium event rentals. Still, 86% of economists say that public funding for sporting venues is likely to cost taxpayers more, than any economic benefits realized by the finished facility; and most taxpayers are unlikely to ever step foot in the building. I’m all for multi-purpose venues, so long as the total expenditure for construction is coming out of owner(s) pockets.

Fan Marino: The Washington Redskins have released plans for a new 60,000 seat stadium that would offer locals far more than a place to watch football games. The proposed venue will include a moat that can be used for kayaking and surfing in the summer, and ice skating in the winter; while the stadium’s exterior will double as a climbing or rappelling wall. That doesn’t sound like a modern stadium, it sounds like an urban outdoor enthusiast’s dream.

More Than Sports: Stadiums Try Video Games and Surfing

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Author: John Wall Street

At the intersection of sports & finance.

One thought on “Trends Point to a Future of Multi-Purpose Venues, Away from Single Sport Facilities”

  1. Multi purpose? Every stadium is multi purpose. Besides what they were designed for many utilize that other sports can also utilize their facilities n other events such as concerts, meetings, weddings can be held there when sport specific activities r not taking place. what y’all are talking about is amenities, n attractions. Ice skating n canoeing is an attraction to draw more people to that particular area. As for teams wanting to move downtown it only makes sense from a business stand point as there is more people per mile while also it presents unique marketing and advertising that may not have been there if the teams decided to build in the burbs, this is especially true with sports such as hockey, basketball, n baseball which play during the work week.

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