Cities compete for over $100 billion in sports-driven mixed-use development

A study by Klutch Sports Group with the Royal Bank of Canada forecasts more than $100 billion in investment for mixed-use districts built around sports venues over the next 15 years, as cities aim to turn stadiums into year-round attractions. The piece profiles six contenders: Las Vegas, which has added NHL, WNBA and NFL franchises and expects MLB and NBA teams; Riyadh, backed by the Public Investment Fund and hosting LIV Golf, a high-profile football signing and the 2034 FIFA World Cup; Miami, leveraging luxury tourism and a $1 billion Freedom Park tied to Inter Miami’s revenue surge after Lionel Messi’s arrival; Melbourne, with the Australian Open and an upcoming NFL game; Paris, a hub of recurring elite events and a growing football brand; and Los Angeles, whose franchises generate billions and will host numerous championships culminating in the 2028 Olympics. The report warns that renegotiated media-rights deals and geopolitical concerns, such as sports-washing accusations, could pressure returns, yet cities see sport as a driver of tourism, branding and diversified growth.