Stadium Industry Updates 9 April 2024
FC Barcelona's VIP Box Sale, Nottingham Forest New Museum and Fan Experience Enhancements, The Evolution of European Football Stadiums, Tottenham Hotspur Reports Record Revenue Growth and much more in the latest Stadium Industry Updates!
FC Barcelona's VIP box sale: financing the Camp Nou renovation.
FC Barcelona is selling 62 VIP boxes at the Camp Nou stadium as part of its renovation plans, aiming to generate €160m. Of the 115 VIP boxes planned, 62 are for sale to companies for a ten-year period, with some already sold.
The proceeds will help finance the stadium's renovation, part of the club's efforts to address financial challenges while maintaining competitiveness.
Recent financial reports show a net profit of €304m, supported by creative financial strategies and deals like the €400m agreement with Sixth Street.
Additionally, Limak Construction received a €1m bonus for completing the initial phase of the revamp ahead of schedule.
Read more at: https://www.thestadiumbusiness.com/2024/04/05/barcelona-aiming-to-make-e160m-from-vip-boxes-of-new-camp-nou/
Nottingham Forest unveils new museum and fan experience enhancements.
Nottingham Forest has launched a new museum at the City Ground, part of its plan to enhance the fan experience.
The museum showcases the club's history, including items from Brian Clough and match-worn shirts. Stadium tours, including Legends Tours, offer behind-the-scenes access.
The museum will also host community events. Talks continue regarding the club's future at the City Ground, with plans to expand capacity to 40,000.
Read more at: https://www.thestadiumbusiness.com/2024/04/02/nottingham-forest-boost-fan-experience-with-new-stadium-museum/
The evolution of European football stadiums: embracing the ‘American’ bowl
The European football stadium landscape is undergoing a significant transformation, as traditional terraced grounds give way to sleek, modern bowl designs inspired by American stadiums.
Clubs are embracing these changes to enhance the fan experience and boost revenue by hosting a variety of events beyond football matches.
Tottenham Hotspur's state-of-the-art stadium serves as a prime example, with increased matchday revenue and a wide range of non-football events.
While some critics lament the loss of tradition and atmosphere, others see the benefits of these innovative venues. This trend is spreading across Europe, with clubs like Real Madrid, Manchester United, and Barcelona investing in stadium redevelopment projects to modernize and maximize revenue stream.
Read more at: https://www.365scores.com/news/the-incredible-american-stadium-revolution
Tottenham Hotspur reports record revenue growth fuelled by non-football business.
Tottenham Hotspur experienced a significant revenue surge in the latest financial year, reporting a 24% increase to £549.6m, largely attributed to its growing non-football business.
Commercial revenues, including sponsorship and stadium events, saw substantial growth, reaching £227.7m, with contributions from diverse events like NFL games and music concerts.
Match receipts also increased, providing crucial revenue for stadium debt security. UEFA prize money surged due to Champions League success, while TV and media revenues remained stable.
Chairman Daniel Levy emphasized the importance of the club's multi-use stadium in driving financial sustainability and on-pitch success. Looking ahead, Tottenham anticipates further growth in commercial revenues, leveraging its state-of-the-art stadium facilities.
Read more at: https://www.thestadiumbusiness.com/2024/04/03/stadium-revenue-helps-spurs-top-500m-turnover-milestone/
Planet Group secures naming rights for KAA Gent's stadium.
KAA Gent's stadium, formerly known as the Ghelamco Arena, has found a new naming sponsor in Planet Group, Sam Baro's HR company.
The deal, worth 1 million euros annually, comes as a significant boost for the club, which faced financial challenges prompting player sales earlier.
Planet Group, led by Baro, aims to establish a long-term partnership, emphasizing its commitment to sports and branding. With an annual turnover exceeding 125 million euros and over 2,000 employees,
Planet Group is a prominent player in the HR sector. The company's association with sports extends to initiatives like the Planet Group Ekiden and a padel court in Ghent, aligning with its vision to promote sports as part of its corporate culture.
Read more at: https://www.world-today-news.com/owner-sam-baro-renames-aa-gent-stadium-for-1-million-per-year-as-planet-group-arena/
Adelaide Oval makes history with Cryptocurrency payments for fans.
Adelaide Oval, in partnership with the Adelaide Crows and Crypto.com, introduces cryptocurrency payments for food and drinks, facilitated by DataMesh technology.
This marks a global first at this scale and was available for fans during an AFL fixture. Customers who opt to pay in cryptocurrency select Crypto.com as the preferred method and use a dynamic QR code generated at checkout.
The initiative aims to cater to the growing adoption of cryptocurrency in Australia. It's part of Crypto.com's commitment to innovation and Adelaide Crows' goal of offering diverse payment options to fans. The technology will extend to live music events at the venue.
Read more at: https://www.thestadiumbusiness.com/2024/04/05/cryptocurrency-accepted-at-adelaide-oval-following-latest-partnership/
Lesotho's "Stadium of Life": Africa's first certified timber stadium
Lesotho is building Africa's first certified timber stadium, the “Stadium of Life,” in collaboration with FSC International, Kick4Life, and others.
Constructed with preserved Eucalyptus poles, the stadium emphasizes sustainability and community development. Led by architect Pedro Clarke, it aims to minimize carbon emissions while showcasing wood's carbon sequestration potential.
Scheduled to open by Christmas 2024, the project symbolizes a shift towards eco-friendly sports infrastructure in the Global South
Read more at: https://woodcentral.com.au/africa-first-8500-timber-poles-replace-concrete-in-stadium/
Wolves extend Levy partnership to elevate retail experience.
Wolves have expanded their partnership with Levy to include retail operations, making Levy the club's new retail partners.
Levy, known for their catering services, will now manage Wolves' Megastore at Molineux and the club's online store, offering a wider range of merchandise.
The partnership aims to enhance the fan experience, with a focus on quality, innovation, and community support. Supporters can continue shopping through the online store or visit the Molineux Megastore during regular opening hours.
Read more at: https://www.wolves.co.uk/news/club/20240403-wolves-and-levy-extend-partnership/
Arsenal's Unity: community Iftar and multi-faith inclusivity
The Emirates Stadium hosted a Community Iftar event, emphasizing unity and inclusivity. Over 100 guests, including both Muslim and non-Muslim members, gathered to break their fast together at sunset.
Mo Elneny, a prominent Muslim player for Arsenal, joined the event. Key local figures also participated.
The event featured the unveiling of a multi-faith prayer room at the stadium, reflecting Arsenal's commitment to inclusivity. It was captured in a documentary titled 'Arsenal and Ramadan,' showcasing Mo's journey and support for Muslim footballers during Ramadan.
Read more at: https://www.arsenal.com/news/emirates-stadium-hosts-community-iftar