Arsenal owner Stan Kroenke is to press ahead with plans for a £7.8 billion investment in another of his sports properties.
Kroenke Sports & Entertainment, the holding company which owns the Gunners, unveiled plans on Monday for a new 52-acre development for the KSE-owned NFL team, the Los Angeles Rams, with the price of the project set to reach $10bn (£7.8bn).
The development, part of the 100-acres acquired by KSE in 2022 at the Warner Center in Woodland Hills, will include the permanent headquarters and training facility for the Rams. The development will also include a live entertainment venue as Kroenke seeks to supercharge the Rams' valuation and aid their competitive efforts on the field.
The Rams' new training facility will feature two full-sized grass fields as well as an additional 150,000 square foot indoor practice field that could hold up to 2,500 spectators.
Speaking to the LA Times, Kroenke said: “As we embark on our 10th season back in Los Angeles, we remain committed to helping shape the future of this great city.
“Rams Village at Warner Center will continue to transform Woodland Hills by providing a vibrant gathering place for the community through publicly accessible open spaces, new entertainment venues, a retail village, and residential offerings.
“This is a tremendous opportunity to develop a dynamic destination and create the Rams permanent headquarters within the City of Los Angeles and we look forward to working with the City to turn this vision into a reality."
Arsenal face PSG in the first leg of their Champions League semi-final on April 29 and fans can watch it free with an Amazon Prime subscription or by signing up for a 30-day free trial.
More Champions League fixtures are available on TNT Sports via Discovery+ Premium.
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AmazonHowever, the investment at such a level is likely to see some questions posed about what the plan is for investing in the long-term future of Arsenal given their chance to build on the progress made on the pitch under Mikel Arteta in recent seasons.
Arsenal’s Emirates Stadium was one of the first major new arenas of the 2000s in the Premier League, but having been built in 2006, the near 61,000-capacity home of the Gunners is 20 years old next year.
At a time when their rivals have been building new stadiums that offer a myriad of commercial opportunities, the club will need to address the Emirates and assess the possibilities of redevelopment to maximise revenue income from both matchday and commercial pillars.
Last month it was reported that Arsenal were eyeing the expansion of the Emirates, which was the second largest stadium in England at the time of its completion but has since fallen to fifth, with work potentially being completed by 2028.
Arsenal’s training ground at London Colney, named the Sobha Realty Training Centre after a commercial partnership with the Dubai firm was inked in February of last year, was built some 26 years ago but was given a significant revamp back in 2015, meaning that another redevelopment of the site in the short term appears unlikely, despite what is to take place with the Rams in Los Angeles.
The spend on the Rams in LA sees them put down major roots in the city, with Kroenke having moved the franchise from St Louis 10 years ago, much to the anger of fans in the Missouri city.
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