“The Rise of Real-Estate Speculation: US Sports Teams Put Stadiums on the Backburner”
Stan Kroenke successfully relocated the St. Louis Rams to an ultra-modern stadium near Los Angeles International Airport, with the $5 billion, 70,240-capacity SoFi Stadium complex anchoring a massive land redevelopment. The Hollywood Park site includes an artificial lake, a 6,000-seat theatre, and space for offices, hotels, shops, restaurants, and apartments. This trend of sports franchises integrating real estate has become common, with owners aiming to maximize profits from their properties. With mixed-use developments now more popular, teams are seeking to control economic activity around their stadiums. This strategy has led to various entertainment districts around sports venues, creating economic impacts on local communities.
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