State of the Industry: 2020 Where We’Ve Been, Where We Are, Where We’Re Going October 27, 2020 Table of Contents
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State of the Industry: 2020 Where We’ve Been, Where We Are, Where We’re Going October 27, 2020 Table of Contents 01 Introduction and 05 Entertainment Districts Background 06 Geo-Fencing Visitation 02 Impact of COVID-19 Analysis 03 Updated Venue Database 07 ALSD International Mini- and Statistics Feature 04 Recent Renovations and New Builds 2 1 Introduction Welcome to Design and Build § Trying times for the Sports Facility Industry § More than $15 billion in Major League Sports Projects currently finishing or underway (~$8 billion this year) § Today : § COVID-19 § Up to Date Database Statistics § New Builds/Major Renovation Profiles § Where are fans coming from? § ALSD International Mini-Feature hundenpartners.com | © 2020 HSP 4 What Does HSP Do? Conduct market, financial feasibility & impact studies on: § Stadiums/Arenas § Entertainment Districts § Hotels, Convention Centers § Mixed-Use Districts hundenpartners.com | © 2020 HSP 5 2 COVID-19 Impact League Modifications NBA MLB NFL MLS NHL Bubble Shortened 60-game Attempting “MLS is Back” “Hub Cities” regular season full season Tournament hundenpartners.com | © 2020 HSP 7 Fan Engagement & Stadium Modifications § Virtual Fans § % of Stadium Capacity § “Gameday To Go” § Watch Parties/Events § Touchless/Cashless § Legend Events § Cardboard Fans § Mobile F&B Ordering 8 Updated Venue 3 Database and Statistics What Trends are We Seeing? New MajorNew LeagueMajor League Facilities Facilities by Year and League: 1999by - 2024 Year 18 17 16 15 14 13 12 11 10 9 8 v 7 6 5 4 3 2 1 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 NBA NFL NHL MLB MLS § Most leagues had purpose-built venues with § Shift to renovations and new builds modern amenities by 1999. driven by location. 11 Average Cost per Facility by Year Average Cost Per Facility by Year by League: 1999 - 2024 Average cost per new $4,000,000,000 venue by league is NBA NHL MLB MLS NFL increasing. $3,500,000,000 § NFL: $2.8B $3,000,000,000 § NHL: $1.1B § NBA: $930M $2,500,000,000 § MLB: $775M $2,000,000,000 § v MLS: $270M $1,500,000,000 $1,000,000,000 $500,000,000 $0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 12 Total Spending on Major League Facilities Total Spending on Major League Arenas & Stadiums: 1999 - 2024 Average annual $9,000,000,000 spend over the last 24 years on new $8,000,000,000 venues is roughly $7,000,000,000 $2 billion, increasing despite $6,000,000,000 fewer venues. $5,000,000,000 $4,000,000,000 $3,000,000,000 $2,000,000,000 $1,000,000,000 $- 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 NBA NFL NHL MLB MLS 13 Major League Facilities Built by Decade 1% 3% 1% 1% 1910's 3% 3% 1920's 9% 2020’s § 14 renovations 1950's announced or 1960's 18% begun in the last 1970's 2010’s year. 1980's 31% § 90+ facilities built 1990's 1990’s from 1990-2010. 2000's 31% 2010's 2000’s 2020's 14 Longest Time Span Since Major Investment/Renovation NFL MLB NHL MLS NBA § Bills Stadium - § Comerica Park - § S&P Center - § SeatGeek § Ball Arena- Buffalo Detroit San Jose Stadium - Denver Bridgeview, IL § Rogers Centre - § Nationwide § Moda Center - § Nissan Stadium (potential move Toronto Arena - to downtown) Portland - Nashville Columbus § § Oriole Park at § Dick’s Sporting American Camden Yards - § BB&T Center - Goods Park - Airlines Center Baltimore Sunrise, FL Commerce - Dallas § Tropicana Field City, CO - Tampa 15 Total Spent on Renovation (2005-Present) Total Spent on Renovation (2005-Present) $5,000,000,000 Total $4,000,000,000 amount spent per year for $3,000,000,000 new venues and $2,000,000,000 renovations is more than $3 billion! $1,000,000,000 $0 NHL NFL NBA MLB MLS 16 Average Number of New Major League Venues Opened per Year Average Number of New Major League Venues Opened per Year 5 4.5 • Well-located 4.2 facilities have 4 less need to be moved or 3 2.8 2.6 replaced. 2 • More value in upgrading 1 existing facilities. 0 1990's 2000's 2010's 2020's 17 Recent Renovations and 4 New Builds Five Major Leagues (2019 – 2024) MLS New Builds 2019-2024 MLS: Recent Renovations and New Builds 2019 2020 2021 2022 2023 § Minnesota § Expansion team § New Columbus § Miami Freedom § North Carolina United FC in Nashville Crew Stadium Park Opens FC Stadium moved into new begin play at Opens Allianz Field Nissan Stadium § Austin FC to § Nashville begin play in Fairgrounds § Chicago Fire in § Expansion team their new Stadium opens negotiations to in Miami to Stadium § return to Soldier begin play at Cincinnati new Field Lockhart West End Stadium Stadium to open § Providence Park in Portland § St. Louis MLS renovation Stadium to open 20 Columbus Crew Stadium Columbus, Ohio § MLS Franchise: Columbus Crew § Reported Cost: $300 million § Opening Year/Season: 2021-2022 hundenpartners.com | © 2020 HSP 21 Austin FC Stadium Austin, Texas § MLS Franchise: Austin FC § Reported Cost: $260 million § Opening Year/Season: 2021-2022 hundenpartners.com | © 2020 HSP 22 West End Stadium Cincinnati, Ohio § MLS Franchise: FC Cincinnati § Reported Cost: $250 million § Opening Year/Season: 2022 hundenpartners.com | © 2020 HSP 23 Nashville Fairgrounds Stadium Nashville, Tennessee § MLS Franchise: Nashville SC § Reported Cost: $275 million § Opening Year/Season: 2022-2023 hundenpartners.com | © 2020 HSP 24 St. Louis MLS Stadium St. Louis, Missouri § MLS Franchise: St. Louis § Reported Cost: $400 million § Opening Year/Season: 2022-2023 hundenpartners.com | © 2020 HSP 25 Miami Freedom Park Miami, Florida § MLS Franchise: Inter Miami CF § Reported Cost: $1 billion § Opening Year/Season: 2022-2023 hundenpartners.com | © 2020 HSP 26 North Caroline FC Stadium Raleigh, North Carolina § MLS Franchise: North Carolina FC § Reported Cost: $2 billion § Opening Year/Season: 2023-2024 hundenpartners.com | © 2020 HSP 27 Renovated MLS Pitches 2019-2024 Providence Park Portland, Oregon § MLS Franchise: Portland Timbers § Reported Renovation Costs: $85 million § First Season in Renovated Facility: 2019-2020 hundenpartners.com | © 2020 HSP 29 NBA New Builds 2019-2024 NBA: Recent Renovations and New Builds 2019 2020 2021 § Chase Center § Bankers Life § Talking Stick Fieldhouse Resort § Wells Fargo renovation renovations Center renovation § Rocket (profiled under Mortgage NHL) renovation 31 Chase Center San Francisco, California § NBA Franchise: Golden State Warriors § Reported Cost: $1.4 billion § Open Date: September 2019 hundenpartners.com | © 2020 HSP 32 Chase Center Innovation § Partnerships with tech giants - Adobe, Oracle, Google Cloud, Accenture, and JPMorgan Chasse § Augmented-reality technology § On-site hotel, retail space, and office space § 300 spaces for valet bicycle parking hundenpartners.com | © 2020 HSP 33 Chase Center Premium Spaces hundenpartners.com | © 2020 HSP 34 Renovated NBA Arenas 2019-2024 Rocket Mortgage Fieldhouse Cleveland, Ohio § NBA Franchise: Cleveland Cavaliers § Reported Renovation Costs: $185 million § First Season in Renovated Facility: 2020-2021 hundenpartners.com | © 2020 HSP 36 Bankers Life Fieldhouse Indianapolis, Indiana § NBA Franchise: Indiana Pacers § Reported Renovation Cost: $360 million § First Season in Renovated Facility: 2020-2021 hundenpartners.com | © 2020 HSP 37 Talking Stick Resort Arena Phoenix, Arizona § NBA Franchise: Phoenix Suns § Reported Renovation Cost: $230 million § First Season in Renovated Facility: 2020-2021 hundenpartners.com | © 2020 HSP 38 NFL New Builds 2019-2024 NFL: Recent Renovations and New Builds 2019 2020 § M&T Bank § LA Rams and LA § Carolina Panthers Stadium Chargers move and Denver unveiled to new SoFi Broncos propose renovation Stadium mixed-use districts § Jacksonville § Raiders relocate Jaguars to Las Vegas and § Mercedes-Benz proposed move into new Superdome major Allegiant announces renovations Stadium renovation in preparation for hosting Super Bowl 40 SoFi Stadium Los Angeles, California § NFL Franchise: LA Rams / Chargers § Reported Cost: $5+ billion § Opening Year/Season: 2020-2021 hundenpartners.com | © 2020 HSP 41 SoFi By the Numbers § 298 acres § 3.1 million Sq. Ft § 70,000-seats (expandable to 100,000) § 70,000-square foot video board § 260 luxury suites - more than 13,000 premium seats. hundenpartners.com | © 2020 HSP 42 SoFi Stadium Premium Spaces Field Level Club Field Level Club Private & Public Private & Public Club/Suite Offerings Club/Suite Offerings hundenpartners.com | © 2020 HSP 43 Allegiant Stadium Las Vegas, Nevada § NFL Franchise: Las Vegas Raiders § Reported Cost: $1.9 billion § Opening Year/Season: 2020-2021 hundenpartners.com | © 2020 HSP 44 Allegiant Stadium Premium Spaces Twitch Sponsored Champions Club E-Sports Lounge ModeloUSA Cantina Club Luxury Suites hundenpartners.com | © 2020 HSP 45 Allegiant Stadium Retractable Turf hundenpartners.com | © 2020 HSP 46 Renovated NFL Stadiums 2019-2024 Mercedes-Benz Superdome New Orleans, Louisiana § NFL Franchise: New Orleans Saints § Reported Renovation Costs: $450 million § Opening Year/Season: 2020 - 2024 hundenpartners.com | © 2020 HSP 48 TIAA Bank Field Jacksonville, Florida § NFL Franchise: Jacksonville Jaguars § Reported Renovation Costs: ~ $500 million § Opening Year/Season: TBD hundenpartners.com | © 2020 HSP 49 MLB New Builds 2019-2024 MLB: Recent Renovations and New Builds 2019 2020 2021 2023 § Wrigley Field § Globe Life Field § Coors Field § Athletics completed opens in proposed