🏟️ Stat of the Day: Funding Secured

NFL football is returning to America’s capital for the first time since the Clinton administration.

The Washington Commanders signed a deal with the District of Columbia to replace the team’s current Maryland stadium with a new 65,000-seat domed stadium at the site where RFK Stadium—the franchise’s home from 1961 to 1997—still stands.

• The deal includes a $2.7+ billion commitment from the Commanders to build the stadium, and ~$1.2 billion from Washington, D.C., to cover the costs of other aspects.

If you build it, money will come: Revenue sharing across US pro sports leagues means stadiums and real estate developments are more strongly correlated to increasing a franchise’s value than winning games. Of the 27 teams that more than doubled in value between 2018-2023, nine moved into, or are getting, new stadiums. Stadium ownership also means franchises are entitled to revenue from non-sporting events held on site, such as Taylor Swift concerts.

Big picture: The Commanders are worth ~$6.3 billion, 13th on CNBC’s list of 2024 NFL team valuations.

🤔 Did You Know? Clenching your fist before a blood test can result in falsely elevated potassium levels.

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