Stadium Industry Update - 17 September 2024
Chelsea’s potential new stadium plans at Earl’s Court, AC and Inter Milan reject Giuseppe Meazza redevelopment proposal, Manchester United’s record earnings overshadowed by rising net loss, Site identified for new stadium Raków Częstochowa and much more in our latest stadium industry updates!
Chelsea’s new stadium plans: What’s happening in Earl’s Court?
Chelsea FC is reportedly exploring the possibility of constructing a new stadium in Earl’s Court. The club has engaged in discussions with Transport for London (TfL) regarding the regeneration plans for the area. Chelsea’s Chief Executive, Jason Gannon, has reportedly held “productive” talks with real estate firm Delancey. The proposed new stadium is anticipated to have a capacity of 60,000 and could be situated at the Lillie Bridge Depot in Earl’s Court.
Chelsea is evaluating all options to accommodate a larger fan base. Club owner Todd Boehly has prioritised the redevelopment of Stamford Bridge. While the club has not dismissed the possibility of remaining at Stamford Bridge, progress on its redevelopment has stalled. The stadium's proximity to a tube line presents significant challenges for a rebuild and Chelsea is considering a phased redevelopment approach. This could potentially require relocating temporarily, with Wembley Stadium being a likely option. Stamford Bridge has currently a capacity of around 40,000.
AC and Inter Milan reject Giuseppe Meazza redevelopment proposal
Serie A Clubs, AC Milan and Inter Milan, have turned down a proposal supported by the Municipality of Milan to redevelop the Stadio Giuseppe Meazza. Instead, the two Serie A clubs are now refocusing on plans for a new stadium near their current shared venue. This latest development followed a meeting last week between senior representatives of both clubs and Milan's Mayor, Giuseppe Sala. After the discussions, Sala commented, “The strong understanding between the two clubs is certainly a positive sign”. Last month, the Municipality revealed that Milan and Inter were assessing both the technical and financial aspects of either purchasing the stadium outright or negotiating for its operational rights. In June, the Italian construction firm Webuild presented a redevelopment plan for the Meazza, which included demolishing the stadium’s first and third tiers to modernize the facility.
Inter and Milan have shared the Meazza since 1926, with the stadium undergoing multiple renovations over the years. Both clubs had previously been working on a joint project for a new stadium on the same site as their current home.
Manchester United’s record earnings overshadowed by rising net loss
Manchester United has reported record total revenues of €785m for the year ending June 30 2024, but its net loss has risen sharply to €134.3m. The club’s revenue increased slightly from last year’s €769.2m, with commercial income steady at €359.3m and broadcast revenue up from €248m to €263.1m. Matchday revenue increased slightly by €830,000 to €162.7m, driven by strong demand for hospitality, although it was partially offset by eight fewer home matches. The 2023-24 season saw record ticket sales, a doubling of women’s matchday revenues and the highest number of paid global memberships at 438,000. Season tickets for the 2024-25 season sold out rapidly, and the waiting list has grown to 171,000. The current net loss of €134.3m compares to €34m and €137m in the previous two years. Starting in Q3 of fiscal 2024, United launched a business transformation plan aimed at achieving €47.5m to €53.4m in annual cost savings, with €11.9m in implementation costs. These savings are expected over fiscal years 2025 and 2026.
On the stadium front, United has partnered with Trafford Council and the Greater Manchester Combined Authority (GMCA) to explore regeneration around Old Trafford. Reports suggest the club is considering a new 100,000-capacity stadium next to Old Trafford rather than redeveloping the existing venue, with a final decision anticipated by the end of the year.
Site identified for new stadium Raków Częstochowa
Częstochowa City has identified a site for a new 15,000-capacity stadium for Polish Ekstraklasa club Raków Częstochowa. Earlier this year, the City and Raków initiated a search for a suitable location, leading to a feasibility study. The study considered several sites, including Raków’s current 5,500-capacity Miejski Stadion Piłkarski and the Arena Częstochowa speedway stadium.
The Elanex site, previously home to a large textile factory, has been selected. This location is near the city centre, well-connected and offers strong potential for investment and development. The City envisions the site as a hub for a multifunctional complex combining sports, recreation and commercial uses. A public-private partnership is seen as the most promising approach for this project. The estimated cost for the new stadium and site redevelopment is around €78.5m, potentially rising to €103.7 with a parking facility.
Momentus organises exclusive webinar on driving sustainability in event management
Momentus invites the stadium community to join their upcoming webinar, "Achieve Your Venue and Event Sustainability Ambitions With Technology". This session will explore how technology can assist venues in tracking ESG goals, measuring carbon emissions and ensuring regulatory compliance. Participants will gain practical insights and tools for adopting a more sustainable and informed approach to venue operations. The webinar will include an interactive Q&A session for attendees to engage directly with the experts. Momentus offers A powerful, end-to-end cloud platform with fully-integrated CRM, event management, accounting, reporting and modern web portals for space booking, event planning, catering and payments — all in one place.
Register here to secure your spot for the must-attend webinar.
New pitch site club launched by Inter
Serie A club, Inter Milan has introduced a new Pitchside Club experience, featuring just 14 seats for fans to enjoy intimate views of the action, meet club legends and savor gourmet finger foods. The area will include Campari products and seating from Unopiù. This experience is akin to AC Milan’s Club 1899 Front Row Experience, offering premium seating and amenities reminiscent of NBA courtside views. Additionally, Inter is launching the Sports Pub San Siro-Bordocampo, a traditional pub where fans can watch away games on TVs, subject to availability.
Final ticket sales revealed by Paris 2024
Organisers of Paris 2024 have revealed a record 12m tickets sold for the Olympic and Paralympic Games, which wrapped up with the Paralympics closing ceremony at Stade de France 9 days ago. The Paralympics, which began on August 28, sold over 2.5m tickets, with most of the remaining 500,000 tickets still up for grabs. The Olympics, held from July 26 to August 11, sold more than 9.5m tickets and set new records in sports such as rugby sevens and basketball. Paris exceeded London 2012’s total of 10.9m tickets, but London retains the Paralympic ticket sales record with 2.7m. The next Olympic and Paralympic Games will be hosted by Los Angeles in 2028 and Brisbane in 2032.
Bernabéu forced to cancel and reschedule upcoming concerts after noise complaints
Real Madrid has announced the rescheduling of several concerts at the Estadio Santiago Bernabéu due to local noise pollution regulations. Despite soundproofing efforts, the club admitted it has been unable to fully comply with municipal standards. As a result, Dellafuente’s concert on November 15 and Aitana's performances on December 28 and 29 have been postponed, while Lola Índigo’s March 22 show will also be rescheduled. Additionally, the Music Bank concert, featuring K-pop acts and originally slated for October 12, has been cancelled entirely. Real Madrid assured fans it is working to meet the necessary sound production and broadcasting conditions to prevent future disruptions to its event schedule.
PSG's new stadium update after last weeks SIU article
Île-de-France has now approved the reservation of land for a potential new stadium for Paris Saint-Germain. The site, covering approximately 50 hectares, is part of a broader Environmental Master Plan for the region. The precise location of the site has yet to be announced. PSG is currently under a 30-year lease for Parc des Princes, which runs until 2043. The club has expressed a desire to purchase the stadium to undertake significant redevelopment, aiming to increase its capacity from around 48,000 to 60,000. Relations between PSG and the city have been stalled for some time as the club seeks a resolution.