This was one of the driving reasons I sold my PSLs a few years back. Didn't want to be left holding the bag if a new stadium was announced at some point.
It's coming! With the hiring of the new team President, they are looking to improve the current facility or build a new one
Props @hlmbasketball When Houston Texans owner Cal McNair named a new team president last month, the first thing he touted about Mike Tomon’s resume was his “extensive history in stadium development.” Tomon was previously an executive at Legends, a stadium operations firm co-founded by Dallas Cowboys owner Jerry Jones, where he worked on arrangements for new NFL stadiums in Los Angeles, Las Vegas and, most recently, Buffalo, which is set to open in 2026. The Texans, meanwhile, have started negotiating a new lease agreement at NRG Stadium, their publicly-financed home since 2002. A recent facility assessment found the stadium was in average or below average condition compared to its peers, with a laundry list of needs from deferred maintenance over the years. But McNair’s quote and Tomon’s history suggest stronger ambitions: The team may want a new stadium entirely. Two sources familiar with the Texans’ thinking told the Chronicle the Texans have explored the possibility of a new stadium, though the team has not committed to that path. The team has not proposed a new stadium in the lease negotiations, and the ultimate decision will depend on what makes the most financial sense for the Texans, the Rodeo and Harris County, which owns the campus and leases it to the two organizations, the two sources said. “Our priority has always been to support a renovation of NRG Stadium and that’s where our focus remains,” Texans spokesperson Omar Majzoub said in a statement to the Chronicle. “As we’ve said before, we are committed to exploring all potential solutions to ensure long-term success and we look forward to working with the Houston Livestock Show and Rodeo, Harris County and HSCCC (the Harris County Sports and Convention Corp.) in identifying the best path forward.” A decision could likely hinge on the price tag of a renovation. If the combined costs of maintenance – $1.4 billion is needed over 30 years at the stadium, according to a recent assessment – and premium features the Texans may want to add begin to approach the cost of a rebuild, the team could decide a new stadium is the better option. It may also be difficult to retrofit NRG Stadium with some of the premium features the Texans may seek. Thirty years ago, some of the biggest draws of new stadiums were retractable roofs and roll-in turf fields. Now, the industry prioritizes more space for luxury suites and clubs, ideally closer to the field; and bigger concourses where fans can watch from bars and restaurants. Meanwhile, a new stadium could also bring logistical advantages for the Texans and the Rodeo. Namely, the organizations would not have to juggle renovations with active Rodeo and football seasons. A tough sell A new stadium could prove to be a tough sell with taxpayers. Houston and Harris County’s elected leaders are paying off the debt they incurred to build NRG Stadium 25 years ago, using taxes on hotel rooms and car rentals. The Harris County-Houston Sports Authority, the joint venture that financed Houston’s stadium-building spree in the late 1990s and early 2000s, still owes $1 billion in principal debt on the bonds that paid to build NRG, Daikin Park and Toyota Center. It is not scheduled to pay them off until 2056, according to financial statements. The Texans also have benefited from a team-friendly deal at NRG Stadium for the last two decades. The team put up revenue from permanent seat licenses toward the construction of the stadium, but it does not have to contribute toward most maintenance costs, unlike the Rockets and the Astros. The county is on the hook for those costs at NRG Park. And the Texans often get more money in tax rebates than they have to pay in rent, according to financial audits – meaning the government essentially pays the team to play at NRG. The sports authority’s debt load suggests it does not have room to take on additional loans to finance a new football stadium, and there does not appear to be enough money in the county’s general coffers to take on a rebuild. The Texans could finance the stadium themselves, but NFL teams almost always ask for subsidies. Of the NFL’s 30 current stadiums, only five were financed without them. Still, teams often find an eager market among cities, counties and states willing to pitch in. The league’s position is that new stadiums attract major events and bring in revenue for individual teams and the communities they represent. One of those events is the Super Bowl, which brought about 150,000 visitors to New Orleans almost two weeks ago, according to a spokesperson for New Orleans & Company, the city’s visitors bureau. In the past, cities and teams used to put together PowerPoint slides and presentations to bid on a chance to host the event. But the process has changed over the last several years, with teams filling out a form to express interest. The NFL will then tell the team if it is interested in bringing a Super Bowl to their city and stadium. The Texans have been among the teams to express interest each year, but have not been awarded a Super Bowl since 2013, which it hosted in 2017. Ric Campo, who then served as the chairman for Houston’s bid for a Super Bowl that year, said the NFL always awards teams with new stadiums with a Super Bowl as a "quid-pro-quo." He added Houston won its second bid in 2013 because of the late Bob McNair’s influence and because NRG Stadium was still fairly new. They made additional upgrades to assure it remained state-of-the-art. The event brought in $375 million for the city, Campo said. The Saints hosted the Super Bowl this year, in large part because the team and other public entities paid $560 million in renovations to the Caesars Superdome. Among the guests at the Super Bowl to take it all in were the McNairs. “I believe in it because I see the economic impact that our teams have in the community,” NFL commissioner Roger Goodell said recently, when asked why the public should help billionaire team owners pay for new stadiums. “And when you invest in a stadium – whether publicly or privately – I think the return is significant to both.” Bradbury said the economic benefit claims heralded by cities and teams are often bogus, with analysts offering gaudy estimates because they are paid to do so. “Those should be published next to the horoscopes on the comics page,” he said. “They’re overreported in the media. They see the numbers and something that looks like financial accounting, and they think, ‘Oh, there must be something behind this.’ These are financial prostitutes providing a service they’re being paid to provide.” A future Super Bowl site? Bradbury’s research shows teams tend to ask for new stadiums after about 30 years, mostly because that is the typical length of a team’s lease. The maneuvering in Houston comes as several other NFL teams who built stadiums in the 1990s and early 2000s confront the same question. The Tennessee Titans (Nissan Stadium, 1999) secured $1.26 billion in public money to help build a replacement, while the Cleveland Browns’ plan to build a domed stadium in a suburb drew a lawsuit from the City of Cleveland. The Denver Broncos (Empower Field, built in 2001) are “increasingly likely” to build new, according to the Denver Post. Others, like the Patriots and Seahawks, have opted to renovate. The NFL teams’ current stadiums are rarely functionally obsolete – the Kingdome in Seattle is a possible exception – but teams know they can make more money by building new ones with more attractive amenities. For an easy comparison, look at college stadiums, Bradbury said. The University of Texas’ football stadium was built in 1924; and Texas A&M’s Kyle Field in 1927. Those long-lasting stadiums are not feats of architectural skill that NFL builders lack; NFL owners just want newer, shinier toys every 30 years, he said. “Any time you’re building a fancy new stadium, you’re adjusting to the tastes of fans,” Bradbury said. “Professional teams think they need something nicer.” The NFL awarded the next three Super Bowl sites after New Orleans to teams with stadiums that were all built within the last decade or were recently renovated. The league encourages teams to build new or renovate their stadiums by offering funding through its G-5 stadium loan program, which allows teams to borrow up to $300 million from the NFL to help pay for construction. Even if Texans were to get public buy-in, the Rockets and the Astros may take umbrage. Both of those teams have been paying to maintain and upgrade their facilities for two decades, often at a hefty price tag. The Astros have spent $93 million on their ballpark since 2016, and the Rockets have spent $19.5 million on Toyota Center in that time, according to the sports authority.
If I'm the astros I'd be pretty upset too. Two championships and I'm still renovating.. Rockets havent had a recent championship but multiple DEEP playoff runs to WCF and they did get to move from Compaq center.. All that being said, I think the Rockets and Astros have MUCH better locations and cant fit building new anywhere nearby, so its renovate, or move out by NRG. Football is king here, so i'm sure it will happen. I think going deeper into the playoffs than we have ever been, or even a SB appearance will do wonders for their chances, obviously.
There is a bit of land near Leeland and Emancipation that could easily be seized through imminent domain. Despite all of the development in the East End there are still a lot of derelict warehouses and empty lots. The worst part about this is that it is another instance of the "enshittification" of everything: They want more luxury seating and "lounges" where disinterested people who only care about posting vibes online can halfheartedly watch a game. Regular fans stand in the way of the team making money.
It's hard to imagine the Rodeo Stadium and the Football Stadium being in the same area even if they buy the Astroworld land and eventually demolish the 'dome. I wonder where they want to move to?
1. You stay away from Brothers Tacos. The rest is eh, just be careful talkin bout my neighborhood! 2. I understand billionaires aren't doing it for us, but I disagree that regular fans are "in the way" of making money... Million dollar suites during 9 games a year isn't going to pay the team salaries, much less the stadium and concessions. Its the ticket sales, merchandise, internet clicks, etc. The fans play a big part. You think the Chiefs struggle to make money without suites? Not every team/owner is the Cowboys, whose dumb*** owner feeds off his even dumber fanbase's lust for the good ol days. 3. Don't mean to start an argument or anything, just commenting back, have a great day!
Football is king but last time Bud left the county holding a bunch of debt (has that debt been paid off yet?) the voters showed Bud the door. Hopefully the McNair's get shown the same treatment. They've made billions off of taxpayers, let them pay for their new playpen.
The TV contracts pay the bills with money left over. Where the owners make money is off of ticket sales/parking/concessions and most of all merchandising. They can charge more to go games, parking etc.. in a new stadium. Look at Vegas/LA stadiums as a guide for what owners really like.
Hey man, I grew up in the East End; notice I didn't call it EaDo I still can't believe what it looks like these days compared to 20 years ago (the last time I lived in Houston). I never would've believed the east side's come up back then.
