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The Business of Stadiums: Top Stories, Sports and Business News — Sept. 9

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These are the stories shaping sports and business for Wednesday, Sept. 9, 2020.

LeBron's Newest Record

LeBron James has added yet another record to his long list of them and this one may never be topped, as James collected his 162nd playoff win in the Lakers game three victory over the Rockets moving him past Derek Fisher for the most postseason victories of all time.

Meanwhile, while there was no March Madness in 2020, next year March could be madder than normal, as ACC coaches are proposing an expanded NCAA tournament that would include all Division I teams with the conference championships serving as the opening rounds. 

Read more: LeBron James Is the Most Valuable Player in NBA History: Unchecked

Daily Coronavirus Update

According to Johns Hopkins, there are over 27.6 million cases of the virus worldwide, with over 898,000 deaths. The U.S. has surpassed 6.3 million cases with nearly 190,000 deaths.

And we have some big news out of New York City. Governor Andrew Cuomo announced that starting on Sept. 30, indoor dining can resume in New York City at a 25% capacity.

The governor noted that this is due to compliance being better, despite his previous concerns about the enforcement in restaurants.

And then we have news concerning President Trump. An excerpt and audio from Bob Woodward's new book “Rage” was released Wednesday.

The tape and the excerpt focus on a conversation between Woodward and Trump where Trump admitted, in early March, that he knew that the coronavirus was dangerous and impacting more than just the elderly and said, “I wanted to always play it down. I still like playing it down, because I don’t want to create a panic.” 

A Look At the Business of New Stadiums

SoFi stadium is three and a half times the size of Disneyland and about twice as big as Vatican City.

The $5 billion stadium is being financed by $1.6 billion of personal equity from Rams owner Stan Kroenke who is the husband of Walmart heiress Anne Walton Kroenke. They have an estimated combined wealth of $15.1 billion.

Allegient Stadium is estimated to cost $1.8 billion with $1.1 billion coming from the team and another $750 million coming from public funding through muni bonds issued by Clark County that are backed by a special tax on hotel rooms in the Las Vegas area.
The NFL offers any team that decides to build a new stadium a standard $200 million.

Read more: SoFi Stadium preview with it set to open on Sunday

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