The Rising Cost of Building Stadiums in the NFL

The NFL has seen the cost of building venues skyrocket since the turn of the century. The construction cost of stadiums in the NFL has exceeded the $1 billion mark. The league thereby owns some of the most expensive venues in the world of sports.

The trend of building expensive stadiums in the NFL started after the turn of the century. League teams began to construct state-of-the-art facilities to replace their aging and outdated stadiums. The AT&T stadium was opened in 2009 at a price tag of $1.3 billion, while the MetLife stadium was completed in 2010 at a cost of $1.6 billion.

Factors Leading to High Construction Cost

A good number of factors actively contribute to the high construction costs of stadiums in the NFL. One notable factor is the rising prices of construction materials. Most teams adopt unique designs and modern technology to build new stadiums. This requires premium building materials, which eventually leads to the high cost of construction

Other factors leading to the high cost of building stadiums in the NFL are the price of labor and the cost of acquiring land. Stadium construction requires a large number of skilled workers, who are in high demand. The willingness to build new stadiums in densely populated areas where land is expensive also drives up the overall cost.

Prices of Recently Built Stadium

The Allegiant Stadium in Las Vegas was opened in 2020 at an estimated cost of $2 billion. It became the new home of the Raiders, who had relocated from Oakland. The SoFi Stadium, which is now the home of two Los Angeles NFL teams, also opened in 2020. Located in Inglewood, the stadium was completed at an estimated price tag of $5.5 billion.

The Mercedes Benz stadium was also opened in 2017 at a projected figure worth $1.6 billion. The 71,000-capacity stadium is now home to the Atlanta Falcons. In the same vein, the U.S. Bank Stadium reached completion in 2016. The 73,000-capacity new home of the Minneapolis Vikings has a construction cost of roughly $1.06 billion.

Public Criticism and the Future of NFL Venues

The trend of expensive stadiums has not gone unnoticed by the public. There have been criticisms of the significant cost of the venues to taxpayers. A section of the public also argues that excessive funds spent on the stadium could be divested into other priorities that benefit society much better. These include education, infrastructure, and social services.

Despite the controversy surrounding the high cost of stadiums, the trend shows no sign of slowing down. Teams in the league will continue to invest in the construction of new facilities for a better fan experience. The Bills and Titans have already concluded plans to build a new stadium, while many other teams might come up with plans in the near future.