You might be thinking that with the world embracing beards and facial hair, and with the Winter Olympics coming up, that it’s the perfect time to dust off the old hockey gear, reconnect with your inner child, and get back into the game. If so, you would be right! However, there is one important factor that you need to take into consideration before you do anything else. That is the cost of building a hockey arena.
You’ll be surprised at how much that cost. Building a hockey arena is no easy feat, and it’s sure to strain your wallet. To give you a better idea of what kind of investment you’re making, and how much you’ll need to spend on it, lets examine the cost of building a hockey arena, the Kings’ STAPLES Center.
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The Cost Of NHL Arena Construction
When you’re constructing a new arena, there are a lot of expenses to consider. You’ll need to set up a building fund, hire out legal help to draw up the contract, pay for site preparation (if the arena is built on a site that’s already been built on), and more. It’s not an inexpensive process, and it will certainly cost you money, even if you have an all-inclusive arena builder who handles the whole process for you. Depending on the complexity of the project, it can cost you a decent amount of money, say around $150,000 to $300,000.
The Cost Of STAPLES Center Renovation
Once you’ve poured your building fund into the construction of the arena, you’ll want to consider investing in some renovations. When the time comes, you’ll need to install a new video display system (this can cost you around $50,000), upgrade your bathroom amenities (around $25,000), and improve your restaurant and bar (this can cost you much more than just the food and drink, around $100,000). All of this adds up, and it’s certainly an expensive process, costing you around $275,000.
An NHL Arena, Plus All The Necessary Amenities, Will Set You Back
So, what would the total cost of an NHL arena, with all the necessary amenities, be? Well, it will depend on how big you want the arena to be, but let’s assume that you want it to be, say, 50,000-seat capacity, and you’ve set aside $150,000 for construction, as mentioned above. Then, you’ll need to add another $150,000 for the cost of the amenities, which, for the sake of argument, we’ll assume are worth it. In that case, the total cost, including the ice rink, plus all the necessary amenities such as the bar, restaurant, and boxes for the fans would be $300,000.
The Cost Of An MLS Arena
If you’re a professional sports league that mostly recruits from within the United States, you don’t have to worry about international players asking for a trade, since the United States is a fully functioning market. That makes it much easier to have teams in all the major cities. It would be great to have the NHL in Southern California, for example, but since there’s no demand for it in Australia, the Sydney NHL team could never join the league.
One of the major costs associated with having a professional sports team is the cost of buying and building a stadium. Unless you have a lot of money, and you’re willing to spend it, you won’t be able to have an NFL, NHL, or Major League Baseball team in your area. What’s more, you’ll have to search for venues that are near to or fit within your budget. This is one of the main reasons why MLS, or the “Major League Soccer” as it’s commonly known in the U.S., doesn’t have the same appeal across the pond as it does here.
The Cost Of An NBA Arena
The NBA is another sport that largely recruits from the United States, so building an NBA arena is rather straightforward. The only cost you’ll need to consider is the cost of the land. However, you can also build an NBA arena on existing land, which makes it much less expensive, as there’s already been some investment in the land. If you do decide to build on existing land, you’ll also need to make sure that you get the proper authorization from the city or county that the land is in. In some cases, they might even help you out with the costs associated with building an NBA arena, providing you’re a registered nonprofit organization or a church group.
The Cost Of An NCAA Arena
The NCAA, or the “National Collegiate Athletic Association” as it’s more commonly known, is another major sports league that mostly recruits from within the United States. Building a stadium for an NCAA team is rather pricey, as you’ll need to set aside a large sum of money for the construction, as well as for the amenities that the stadium will include. Like the NBA, you can also build an NCAA arena on existing land, making it less expensive. However, in that case, you’ll need to seek the permission of the current landowner, as well as pay for the right of way, which can be expensive.
The Cost Of A World Class Concert Hall
The final category that we’ll examine is what would the cost be of building a world-class concert hall, perfect for international performers and headlining acts? Well, it will depend on how big you want the hall to be, the material used for the building, and the quality of the equipment and fixtures, but let’s assume that you want the hall to be 50,000-seat capacity, and you’ve set aside $150,000 for construction. In that case, the total cost, including the stage, the lights, the sound system, and the doors, would be $300,000. Not cheap, but certainly an investment that will pay for itself.
When you add it all up, it turns out that building a hockey arena is rather pricey. However, with the right planning, and with the right group of people, it’s certainly an investment that you’ll enjoy for years to come. What’s more, not only will you be able to enjoy the game, but you’ll also be able to enjoy the experience of watching your favorite team play at their shiny new venue. It might be even better if you can get a group of friends together, and share the costs with a shared vision. Plus, if you’re a fan of a certain musician, you may be able to get them to play a concert that you could book. This might be a way to save some money, as well as have your favorite musician come to your city and give a performance that you couldn’t afford otherwise.