David Bruhn’s Post

With the conclusion of the 2024 Olympic Games in Paris, one question lingers: What happens to the grand stadiums and facilities now left empty and silent? This question encapsulates a broader challenge in sports and entertainment development: how to create lasting value from structures that have historically been designed for limited, specific uses. The future of this asset class will be all about 'raising the floor' - a fundamental shift in how we evaluate the economic impact of these developments. Instead of fixating on the stadium's balance sheet, this approach considers how an integrated, mixed-use development anchored by a sports or entertainment venue can elevate the baseline economic value of entire neighborhoods and cities. In this essay, we examine the market dynamics and investment theses that have led to forward-thinking investors and developers creating consumer driven development projects that not only deliver financially - but become cornerstones of community life, cultural hubs, and centers of economic vitality. We would like to extend a special thanks and gratitude to Professor Joe Gyourko of the The Wharton School, Professor John Macomber of Harvard Business School, Greg MacKinnon, Director of Research at PENSION REAL ESTATE ASSOCIATION (PREA), Duncan Paterson, Principal of Sports/Entertainment Group of Gensler, Randall Friedman (Williams College ‘95 and YPO Gold Northeastern At Large) President & COO of JohnWallStreet, the Pittsburgh Penguins, Fenway Sports Management (FSM), Buccini Pollin Group, and the Urban Land Institute for their insights. Please let me know thoughts in the comments

Great report by Clay Cove Capital and Amachie Ackah. Definitely points the way towards how sports facility owners and investors should be thinking about real estate development, value creation and community integration.

As the 2024 Olympic Games in Paris becomes a memory, a pressing question remains:   What becomes of the grand stadiums and facilities now that the torch is extinguished, the crowds have dispersed, and the athletes have gone home? In real estate private equity, sports and entertainment venues have often been seen as impressive but underutilized assets. The future, however, is about 'raising the floor'—shifting focus from short-term revenue to the broader economic impact of integrated, mixed-use developments. Clay Cove’s latest essay delves into this paradigm shift that is redefining the future of these venues. In this essay, we explore the market dynamics, trends, and case studies that illustrate how forward-thinking investors and operators are not only maximizing financial returns but also establishing these assets as cornerstones of community life, cultural hubs, and centers of economic vitality. A warm thanks to Professor Joe Gyourko of the The Wharton School, Professor John Macomber of Harvard Business School, Greg MacKinnon of PENSION REAL ESTATE ASSOCIATION, Duncan Paterson, Principal of Sports/Entertainment Group of Gensler, Randall Friedman, President & COO of JohnWallStreet, the Pittsburgh Penguins, Fenway Sports Group, Buccini Pollin Group, and the Urban Land Institute for their insights as we developed this piece. Looking forward to hearing all of your thoughts in the comments.  https://lnkd.in/eSWcehA4

As the 2024 Olympic Games come to a close in Paris, the question arises: What happens to the colossal structures now that the crowds have dispersed? Historically, these venues have embodied a "build it and they will come" mindset—designed for sports and entertainment but often left dormant afterward. It's time for a paradigm shift. The future of this asset class lies in 'raising the floor'—a fundamental change in how we assess their economic impact. Rather than focusing solely on the stadium's balance sheet, this approach emphasizes the value of integrated, mixed-use developments anchored by sports or entertainment venues, which can significantly boost the surrounding economic landscape. In this essay, we explore the market dynamics and investment strategies that are driving forward-thinking investors and developers to create consumer-driven projects. These developments not only deliver strong financial returns but also become vital community centers, cultural hubs, and engines of economic growth. Click below to read our thoughts. https://lnkd.in/eQj9nzyi

Stadiums today aren't just about the game – they're transforming the entire fan experience. With cutting-edge connectivity solutions from Comcast Business, teams and venues are revolutionizing how fans engage with events, from faster Wi-Fi to enhanced mobile experiences. Learn more about how this game-changing technology is shaping the future both in the stadium and beyond! #IWorkforComcast #Technology #StadiumInnovation #FanExperience #ComcastBusiness"

Earlier today, we announced a significant C-Band overlay initiative at the iconic AT&T Stadium, home of the National Football League (NFL) Dallas Cowboys. 📶 In the words of Matt Messick, Dallas Cowboys CIO, “In 2021, we installed 20 MatSing lens antennas in four strategic ceiling locations to provide a multi-carrier mobility network supporting all low and mid-band spectrum. With the addition of 14 more lens antennas, we are now overlaying C-Band to deliver high-capacity connectivity throughout the stadium. Our initial choice of lens antennas was based on our analysis showing better performance and improved economics compared to under-the-seat and traditional panel antennas, and I am pleased to say these benefits extend to C-Band.” We are indeed pleased to state that Dallas Cowboys and AT&T delivered full venue, multi-carrier, C-Band mobile broadband with only 14 of our #multibeam #lensantennas. With 24 and 48 beams enabled from each antenna, the venue has 300+ sectors for #highcapacity connectivity. C-Band overlay is happening in many venues today and we are pleased to share that carriers, venues and other network owners are opting extensively for our lens antennas for efficient and cost-effective overlay to deliver the best connectivity. #5G https://lnkd.in/gakJSB48

How fans and spectators are engaged at an event goes as much to their overall experience as the game they are there to watch. It is no surprise then, that stadium operators are increasingly adopting innovative solutions to improve operations, enhance security and improve the overall fan experience. Adelaide’s Coopers Stadium, home to the Adelaide United Football Club, is set to become an early adopter by implementing facial recognition technology, following in the footsteps of Melbourne’s AAMI Park and Sydney’s Allianz Stadium. As industry leaders, it is crucial to recognise the transformative impact of such technologies. The integration of facial recognition at Coopers Stadium is a prime example of how innovation can be used to not only enhance operations, but simultaneously ensure an enhanced fan experience. People who feel safe can sit back and enjoy the game. By adopting these advanced solutions, venues set a benchmark for excellence in stadium management and fan engagement. We are all for improved fan experiences and technology that helps operators in all ways. To read more about the implementation of facial recognition: https://hubs.la/Q02K8xZ10

🌟 Illuminate Your Field, Energize Your Game! 🌟 LED Sports Lighting isn't just about brightening up the night—it's a game-changer for athletes, fans, and the environment alike! 💡⚽️ 👀 Optimal Visibility: With LED technology, you get crisp, clear lighting that ensures players can see every move and fans can enjoy every moment, enhancing the overall experience. 🌿 Energy Efficiency: LED lights are champions of efficiency, reducing energy waste and costs compared to traditional lighting systems. This means more playing time without breaking the bank or the environment! 👌 Safety First: Lighting isn't just about visibility; it's also about safety. LED Sports Lighting provides consistent, reliable illumination that keeps players safe and enhances security for all. 🔄 Future-Proof Your Field: Upgrading to LED lighting not only improves your facility now but also future-proofs it for years to come, ensuring you stay ahead of the game. #sportslighting #outdoorlink #energyefficiency #LED #lightingcontrols

🏟️ Ｔｈｅ　ｓｔａｄｉｕｍ: More than just concrete and seats! 📺 It's wires, chips, engines, and engineers driving profits just like the players on the field. In the realm of professional sports, stadiums are the beating heart of the fan experience and a crucial asset for #clubs. While substantial investments are made in their physical structure, the infrastructure supporting broadcasting and spectator entertainment often takes a backseat. This oversight can impact the quality of TV broadcasts and overall fan engagement. Recent research underscores that stadiums play a pivotal role in enhancing the value proposition for clubs. Studies like those by Boissel, Jones, and Fernandes emphasize the critical role of the "servicescape" in driving customer value, highlighting how stadium environments directly influence fan satisfaction and loyalty. Yet, despite these insights, there's often a gap in prioritizing the infrastructure that supports broadcasting excellence. From safety and cybersecurity systems to cutting-edge sound and lighting setups, these technical resources are essential for transforming stadiums into seamless "plug and play" environments for broadcasting companies. Neglecting these upgrades not only affects viewer satisfaction but also impacts clubs' competitiveness and revenue streams. As highlighted by industry analyses, stadiums are more than venues for hosting games—they are economic engines and cultural landmarks that can spur local development and elevate a club's global stature. Smart stadiums, in particular, are expected to grow significantly, offering new business opportunities and enhancing overall fan experiences (Ericsson, 2022). At LALIGA, we recognize the pivotal role of stadiums beyond their physical footprint. Our mission is to collaborate with clubs to optimize their infrastructure for broadcasting excellence. By integrating advanced technologies and strategic upgrades, we empower stadiums to meet modern broadcasting standards effectively. Let's elevate your stadium's potential together. Connect with us to explore how we can enhance your broadcasting capabilities and elevate fan engagement. Your #stadium deserves to be a standout asset in the sports industry! #StadiumInfrastructure #BroadcastingExcellence #FanEngagement #SportsTechnology #soccer #football #venue References: Jerôme Boissel. https://lnkd.in/dn7HeV_S Charles W. Jones. https://lnkd.in/dbansidz Teresa Fernandez & Sara Neves. https://lnkd.in/ddSrmfyS Ericsson: https://lnkd.in/dQ4b-jR5 Some other interesting articles: https://lnkd.in/df4FjjxU https://lnkd.in/dytsG8tE https://lnkd.in/d8HxRvJe