Exploring the Rise of Sports-anchored Mixed-use Districts (SMDs)
Introduction to SMDs
In the evolving landscape of professional sports, Sports-anchored Mixed-use Districts (SMDs) have emerged as game-changers, redefining how sports stadiums function beyond traditional roles. Offering more than just a venue for sports events, SMDs integrate living, dining, shopping, and entertainment, transforming the surrounding area into a bustling community hub.
The Influence of Klutch Sports Group
Since its inception in 2012, Klutch Sports Group has become a significant player in the sports representation industry, led by CEO Rich Paul. Beyond representing over 200 athletes across the NBA, NFL, MLB, and WNBA, Klutch has expanded into brand consulting and global partnerships. Recently, in collaboration with the Royal Bank of Canada, Klutch conducted a comprehensive study focusing on the impact and potential of SMDs.
Klutch’s Whitepaper on SMDs
The whitepaper, a result of this partnership, delves into the financial and strategic opportunities presented by SMDs. Caryn Rosoff, Klutch’s senior vice president of brands and insights, noted a market gap where SMDs needed to be analyzed through a financial and data-centric lens. The whitepaper addresses these aspects, exploring how such districts can enhance franchise value and offer strategic recommendations for investors and brands.
Case Studies: Successful SMD Implementations
The Battery Atlanta
In 2017, the Atlanta Braves set a precedent by moving from Turner Field to the then SunTrust Park, now known as Truist Park, in Cobb County, Georgia. The unique feature of this relocation was the development of the Battery Atlanta, a vibrant SMD encompassing shops, dining establishments, residential units, and office spaces.
Titletown in Green Bay
Likewise, the Green Bay Packers have transformed the area around Lambeau Field into Titletown, an SMD that serves as a community and entertainment hub, reflecting the growing trend of integrating sports venues with mixed-use developments.
The Growing Trend and Financial Prospects
According to Klutch, there are currently 37 announced SMDs across North American men’s professional sports, with 40 venue leases across major leagues—NFL, NBA, MLB, NHL, and MLS—expiring between 2030 and 2039. As franchises contemplate their future homes, the integration of SMDs is likely to become a priority due to their potential to create diverse revenue streams.
Inclusion of Women’s Sports
While men’s sports have prominently featured SMDs, there is an anticipated increase in women’s professional sports, such as the WNBA and NWSL. For instance, the Kansas City Currents secured a $117 million naming rights deal with CPKC for a new venue that promises retail, entertainment, and residential components, showcasing the expansion of SMDs into women’s sports arenas.
Economic Impact and Community Revitalization
Beyond enhancing the value of franchises, SMDs are poised to drive substantial economic benefits locally. Luana Harris, managing director at RBC Sports Advisory, highlights how SMDs create jobs, increase property values, and boost tax revenues, thereby rejuvenating local economies.
“They generate more than just ticket sales,” Harris explains. “These districts can revitalize local growth, create jobs, and significantly boost a city and the region’s economy.”
Conclusion
The future of sports venues extends beyond the field, integrating with our daily lives and communities through the strategic development of SMDs. As an intersection of sports, culture, lifestyle, and economy, SMDs offer an avenue for franchises to grow more holistically, creating intrinsic value for both fans and local communities.
As more venues reach the end of their current lease cycle, the insight from studies like Klutch’s whitepaper can guide future developments, positioning SMDs not just as a trend but as the very future of sports venues.
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Source: https://www.forbes.com/sites/johnperrotto/2025/04/02/klutch-sports-royal-bank-of-canada-wade-into-smds-with-whitepaper/