11 July 2023 , 15:45
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Arsenal owner Stan Kroenke is gearing up to launch his latest project in the form of a new stadium for his MLS team the Colorado Rapids.
The Missouri-born billionaire businessman's empire includes some ten teams in all across a plethora of sports which includes Denver Nuggets of the NBA, NFL giants Los Angeles Rams and two e-sports outfits. The 75-year-old has had a year to remember in many ways, with the Nuggets winning their first NBA championship to make him the first owner to oversee three major North American sports title triumphs.
This followed the title wins for the Rams in the NFL, the NHL’s Colorado Avalanche and the Colorado Mammoth of the National Lacrosse League over the previous 18 months. Success in football has been more elusive for the American, however, with Arsenal having fallen just short of landing a first Premier League since 2004.
On top of this, his MLS franchise the Colorado Rapids have had something of a year to forget so far and are currently languishing rock bottom of the MLS Western Conference, adrift of LA Galaxy by five points. The owner does look determined to bring success back to the Pids, however, with a major stadium overhaul in the works.
And while the team's stadium Dick’s Sporting Goods Park is owned by Commerce City, the sports and entertainment tycoon does own a 269-acre plot of land which surrounds the 18,000 capacity stadium. It has been reported by Front Office Sports that Kroenke is looking to obtain 88 acres via a swap deal which he plans to strike with the city, as well as a county water plant.
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His masterplan for this latest development in his portfolio would be to extensively redevelop the land to bring commercial value to the area with new shops, bars, and restaurants. However, Commerce City is standing firm and value the land at $50 million (£38.7 million), with the Gunners owner Kroenke currently only looking to offer to trade 9.7 acres of his land.
On top of this, Kroenke is looking to press ahead with plans to build a new training facility for the Los Angeles Rams and paperwork to this end was submitted in June. The project would also involve the building of restaurants, hotels, and retail spaces and see the franchise move closer to their SoFi Stadium.
Stan Kroenke's Denver Nuggets have won the NBA Championship, bringing further success for the US billionaire businessman's sporting empire. (Matthew Stockman/Getty Images)The sports and entertainment entrepreneur is also eager to get the ball rolling on new development initiative which will be undertaken in San Diego. The project is slated to feature a 16,000-seat arena, with this possibly being planned to host an NBA or NHL team.
The stadium itself would be the hub of the development, with the 48.6-acre site also set to include housing, as well as a hotel, and retail spaces. The Californian city's mayor Todd Gloria welcomed Kroenke's involvement in the project, saying he would "make it that much more certain that this project will actually come to fruition."
The chairman's Arsenal team will head to his homeland this summer as they prepare to take part in a US tour which will see them face fellow Premier League giants Manchester United, as well as Spanish club Barcelona. They will also face the MLS All-Stars, as an ensemble cast of stars led by Wayne Rooney prepare to face off against the Gunners at Audi Field.