Business · Companies · 20 hrs ago
Ariel Investments backs stadiums for women’s sports teams
Ariel Investments is backing purpose-built venues for women’s sports teams as a way to grow the business.
Many women’s teams share arenas with men’s teams, which can limit control over schedules and access to prime-time slots.
The average WNBA team is valued at $427 million, compared with $2.4 billion for an average NHL team, a gap Ariel says dedicated facilities could help narrow.
Ariel’s Project Level fund has raised $250 million and plans to raise $1 billion by July 2027.
Project Level is working with Denver Summit on a stadium due to open in 2028, as part of a complex with shops, restaurants and housing.
Ariel estimates a purpose-built arena could add up to $3.8 billion to a team’s value over 30 years, though that is a projection.
The fund is also investing in other women’s sports ventures, while the Denver stadium will be a test of whether dedicated venues can bring in more revenue.
Ariel Investments is financing women’s sports infrastructure through its Project Level fund, aiming to help teams build venues designed for them.
The fund has raised $250 million and plans to raise $1 billion by July 2027.
Ariel is working with the Denver Summit on a stadium expected to open in 2028.
A report from Project Level says a purpose-built arena could increase a team’s value by as much as $3.8 billion over 30 years.
The article cites a large valuation gap between average NHL and WNBA teams.
- Who
- Ariel Investments, through its Project Level fund, and the Denver Summit.
- What
- Ariel is financing women’s sports infrastructure, including a stadium project for the Denver Summit.
- When
- The stadium is expected to open in 2028. The fund aims to raise $1 billion by July 2027.
- Where
- Denver, Colorado, where the Summit stadium is being built.
- Why
- Ariel says purpose-built venues can help women’s teams grow revenue and increase franchise values.
This story does not have two clearly opposing sides.
Ariel raised $250 million in the first round of funding for Project Level.
Ariel issued a report on how purpose-built venues can unlock revenue in women’s sports.
Ariel plans to have raised $1 billion for Project Level.
The Denver Summit stadium is expected to open.
- Project Level funding raised
- $250 million
- Fundraising target
- $1 billion by July 2027
- Minimum investment tier
- $5 million
- Potential value increase
- Up to $3.8 billion over 30 years, according to Project Level’s white paper
- Average team valuations
- NHL: $2.4 billion; WNBA: $427 million
- Denver Summit stadium opening
- 2028
What people are saying
Ariel’s reputation for the past 43 years has been investing in the intersection of growth and value, basically the small caps
That’s almost six times. You have to look at it objectively and say something feels off
The reason why we call it Project Level is to level the playing field for women’s leagues and elevate them into the major leagues