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The men’s World Cup is roughly 600 days away, and some host markets feel behind in planning and in direction from FIFA, and have insisted to me that the U.S. doesn’t fully understand the scale and magnitude of what’s in store — from crowd sizes to passion, travel and logistics. But others close to the sport are confident the U.S., Canada and Mexico will successfully meet the moment, and the event will have a significantly positive legacy on soccer in America.
So that’s one FIFA event. The other FIFA event where there is real concern is the Club World Cup, which is slated from June 13 to July 15. This has been dubbed “Infantino’s baby,” as it’s seen as the brainchild of FIFA President Gianni Infantino. His vision was to take a smaller, condensed tournament played in January and expand it to 32 teams in the summer. Late last month, Infantino confidently took the stage at a festival in Central Park with Hugh Jackman and Gayle King, and with great fanfare, announced the 12 stadiums in the United States that will stage Club World Cup matches. His enthusiasm was evident, as he touted great players participating from the 32 best clubs from six global soccer federations.
The problem is there is little time — only eight months until the event — and sparse enthusiasm from soccer leaders on the ground; the ones I’ve spoken with lament FIFA’s preparations and even question the need for the event. Meanwhile, teams and players complain there are already too many games throughout the year. There are also plenty of questions about the Club World Cup’s commercial viability, as FIFA’s inability to land a media partner has been well documented; it was close to a deal with Apple, but the company sensed there wasn’t a vibrant market for the rights and backed off, and now it’s uncertain where the event will land. Sponsorship sales have also been very slow, and remember, we are less than a year out. The stadium footprint is largely on the East Coast, with games being played mostly in NFL venues. Organizers will need healthy attendance to show energy around the matches, so watch ticket prices, because soccer fans now have a lot of other events to choose from, and the Club World Cup lacks the history to be an instant, surefire draw; not all of these matches are going to be passion-drivers. FIFA announced six years ago that the Club World Cup and a new Nations League could result in $25 billion in revenue over time, and that’s led critics to question if this event is just about money. In addition, sources shared that top Premier League clubs participating were assured a hefty payday from FIFA to alleviate any lost revenue from summer friendly matches in the U.S. I wouldn’t be surprised if Infantino turns to the PE markets and institutional investors to help fund any potential shortfall in revenue in exchange for future returns.
So, yes, there is a lot at play here. One element that will certainly help the markets co-hosting both the Club World Cup and the World Cup the following year is a great dress rehearsal around operations, logistics and security, but that’s among the few positives I have heard about this event less than a year out.
In a recent conversation on mixed-used developments, there were two projects that insiders are keeping an eye on that might not be on everyone’s radar. The first is what Carolina Hurricanes owner Tom Dundon and Dallas developer Pacific Elm Properties are doing with an 80-acre, $1 billion mixed-use development around the Lenovo Center and North Carolina State’s Carter-Finley Stadium in Raleigh, N.C. Phase 1 will break ground late next year and include retail and office space, a 150-room hotel, more than 500 residential units and a 4,300-seat theater. As we all know how important the tailgating culture is, the plans have five acres for a tailgate zone and a unique promenade lined with drive-up tailgate suites and balconies, which they hope to complete in 2027. Too often, the important social aspect of tailgating is overlooked around facility development, but not here. Machete Group’s David Carlock, a top venue development adviser not affiliated with the project, said he was intrigued by this specific project, as well everything in North Carolina: “It’s a terrific market. That will be a great project, but several markets there are interesting; Winston-Salem, Raleigh, Charlotte are all benefiting from a lot of tailwinds and secular drivers.”
The other project is the $7 billion, decade-long 1901 Project around the United Center in Chicago, as the Bulls and Blackhawks will jointly develop 55 acres around the arena, hoping to break ground early next year in an effort to turn a lot of surface parking lots into a new neighborhood and reinvent what West Chicago can become. Yes, mixed-use developments offer great renderings, but that doesn’t always mean they get done. And while early, these are two projects that will significantly enhance the overall sports experience, and another reason we are paying so much attention to these developments.
Abraham Madkour can be reached at amadkour@sportsbusinessjournal.com.
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