This is the most expensive NFL stadium in the USA. The cost to build sofi stadium is about $5.5 billion. Only one person financed the whole funds named Kroenke who is a famous businessman in America.
At first, the builders set their budget at around $2 billion but the design, style, rules and regulations make it the highest. Audiences enjoy so many facilities while enjoying any live event at this place. Moreover, a special two sided scoreboard makes it more attractive to the people.
Therefore, recently they hosted the Super Bowl event at this venue. There have lots of sources which generates the revenue for this. Through this article, we will find out the reasons behind its high cost along with its unique amenities.
So without a further, I do let's move on to the discussion.
Cost of 4k HDR scoreboard at sofi stadium
That increases the beauty of this stadium significantly. People don't need to move their necks to focus on what's happening in the ground. The price of this giant board is around $2.8 million to $2.9 million.
The size of this board is 70000 square feet and individuals do not miss any single moment because of this. Moreover, the length of this giant screen is 465 feet. The highest standard technology is employed there to install this.
Nevertheless, it also helps to generate a good amount of revenue from corporate deals. Additionally, a Super Bowl which is considered as one of the famous and largest events can generate $18 million to $20 million.
Cost of sofi stadium tickets
This is one of the major sources of generating income for the stadium as well as the clubs. In general, the cost per ticket is around $70 to $300 for one ordinary match. Therefore, the prices vary due to the types of events. The total gross from the tickets is about $5.6 million to $5.7 million per year.
However, their main target is the Super Bowl event. The minimum price of a ticket for this event is around $3500 to $4000. Moreover, the most expensive tickets are sold at around $7500 to $8500 over the recent years.
Sofi stadium parking cost
Basically, there have two types of tickets holders for the stadiums. One is a season ticket holder and the other is a single game ticket purchaser. For a regular person, they charge $60 for parking and for the irregular audience the rate is $80 to $100.
Suites cost of sofi stadium
There are 7 types of suits are available in this stadium. All of them have different facilities, regarding food and beverage, parking, space and other facilities. In general, the price of a single suit for one match ranges from $15000 to $45000.
Moreover, people have the chance for buying any suit for one season and that cost will be around $1 million based on the terms and conditions of contracts. This cost will be rise if people want to use other extra facilities of the stadium. The suits capacities are about 15 to 35 people.
Can I use cash at Sofi Stadium?
Unfortunately, they don't accept any kind of cash for paying their bills. They do receive credit cards, visa cards and master cards. That actually removes the hassle of the people as well as the authority. Moreover, people can buy tickets online too.
What is Sofi Stadium named for?
Sofi Technologies Inc. provides give $400 million over the condition of paying it by 20 years to Kroenke for the name only. This can consider one of the great deals for this private company. Moreover, this deal also brings great benefits to the Sofi Corporation.
Cost of other NFL stadiums
The national football league is the major soccer event in the USA. Almost all the teams have their stadium to play the league games. Furthermore, the franchise owners spend huge money to build their teams as well as the stadium.
The sofi stadium is the most expensive but for understanding its richness we need to know the other stadium cost too. That is why we illustrate the price of other stadiums with a bar chart so that the processes of comparison become easy.
From the above bar chart, we can notice the huge gap in the cost of these stadiums if we compare with Sofi.
How much time is needed for building the sofi stadium?
Nearly 4 years is needed to complete the whole infrastructure of this. They started their journey in November year 2016 and the stadium opened in September 2020. The location of this is only 4 km away from the LA airport.
That is why builders dug 100 feet for reducing the height. Moreover, the authority of the airport has no issues regarding the height because it was 30 to 25 feet lower than the ordinary stadium.
The capacity of the sofi stadium
In general, 70000 people can watch live events at this stadium. Moreover, the total capacity can be increased for the major events of the USA. The design and great quality technological infrastructure help the authority to expand the number of seats very easily.
Subsequently, the number of seats can be increased to 110000 to 120000 for a special event like the super bowl. Basically, people of the USA are always looking forward to attending these kinds of big events.
The revenue model of sofi stadium
Though its building cost is huge and two to three times bigger than other NFL stadiums in the USA, there have versatile sources of generating money. Moreover, they are committed to the Football franchise and the people to offer the best service.
First of all, it is considered as the home ground of two rich clubs of the world such as; New York Giants and Jets. Therefore, their fan base is huge and they try to attend all the live matches of their team. The authority of this stadium charges around $15,000 to $40,000 as rent per game.
Moreover, they also take a significant portion of the commission from other variable revenues. Actually, their whole revenue model completely depends on the number of events. Additionally, they also charge a good amount of money from the individuals for granting permission to visit the stadium.
Cost Analysis
The ultimate design and updated structure make it one of the finest stadiums in the world. A private company whose owner name is Kroenke spends around $5.5 billion to build a sofi stadium. They don't take any share from the public limited company or the government to make this.