I’m still here at the Sloan Sports Conference, and I’m watching a panel discuss venue and stadium management. All the panelists have been involved with the financing and construction of various sports stadia and arenas. One issue that was discussed was when a stadium needed to be replaced. The answer, of course, was that you need a new stadium when the old one becomes obsolete.
What is obsolete?
To the panelists, structural obsolescence is not the issue – it’s financial. That is, the venue needs to be able to take advantage of the latest in revenue generation, such as electronic signage and premium seating. Tim Romani of the Romani group said that once a stadium gets too old to build in the latest in revenue generation, it needs to be torn down and replaced. I’ll do a full wrapup of the panel and conference later, including the panelists’ discussion of whether public funds should used to build venues, but I’ll post tidbits in this space throughout the day.