The Intersection of Sports and Business: A New Age in Sports Facility Development
In a rapidly evolving world of sports, the confluence of business and sports facility development has become more apparent than ever. Modern stadiums and arenas are no longer just venues for games: they’re also transformative developments that catalyze economic growth and social change within their communities. According to the PwC Sports Outlook report, North American sports market revenue is expected to reach $83 billion by 2023, with a large part of it stemming from the business of sports facilities and related developments. What then, lies behind the transformation of these stadiums and arenas into mega entertainment centers?
On the latest episode of Suite Talk, host Patrick Risch invites Eric Andalman, counsel at Hogan Lovells in Denver, to answer these questions and more. The discussion dives into the intricacies of sports facility development, its financing, and its impact on the communities they serve. As someone with impressive credentials and experience in the area of sports businesses design and negotiation, Andalman has much to share and dissect in this discussion.
Key points of the discussion will include:
- The role Eric and his team play in sports facility development and how they guide clients through everything from choosing project managers to securing public grants and financing.
- A look into the evolution and complexity of aspects such as food and beverage negotiations and naming rights in the sports business.
- Exploration of some transformative projects that Eric has been involved with and highlighting their profound impact on the respective communities.
Eric Andalman is a seasoned legal counsel at Hogan Lovells, a leading global law firm. A graduate of Washington University St. Louis, where he completed his law degree in 2008, Eric has established himself as a trusted advisor in the realm of sports facility development. Over the years, he has played a crucial role in several landmark projects, providing comprehensive advice and solutions to owners and developers alike.