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The 15 Most Expensive Arenas In The NBA

Posted by Craig Parsons on 10/8/2012 6:42:46 PM

You might think that betting lines pose situations in which human beings part with their money on a grand scale, and you'd be right, but you'd also be wise to note that a lot of money is coughed up in the attempt to build NBA basketball arenas in the modern age. New sports palaces need to have the luxury suites and all the other kinds of bells and whistles that facilitate revenue streams that can make sports franchises a lot more profitable than they used to be. Owners know that they have to build revenue-producing components into their new pleasure domes. Otherwise, they will fall too far behind the curve in the cutthroat world of the sports business. They cannot pay top-dollar for elite players and will quickly suffer a noticeable deterioration of their product.

This is not money spent for online sports betting legal entities, but for NBA basketball and for other events that can become entertainment magnets for a community. Here are some of the notable findings from a Business Insider article on the 15 most expensive arenas in the NBA:

First of all, this trend is something that caught on in the 1990s, not the 21st century. Five of the arenas on this list opened in 1999, and seven of them opened in the 1990s. The Wells Fargo Center in Philadelphia (a building that has had its name changed several times in the past six years or so) opened in 1996, ushering in this wave of new facilities for basketball (and, in many cases, for NHL hockey tenants as well). One other arena on this list was built in the 20th century, and that's the most expensive one on the list: Madison Square Garden, regarded by many as the best and most treasured arena in the NBA, not to mention all of North America. The Garden is undergoing an $850 million renovation that is pushing its total construction cost over a larger period of time to roughly $1.1 billion.

Even horse betting experts probably have to step back and wonder how a basketball arena could accumulate such a price for construction and renovation. In the case of Madison Square Garden, one needs to realize that the arena was a rebuilt version of the old Madison Square Garden, which was also a cultural centerpiece in New York. The city of New York and the Knicks organization have a lot of money, but also pride and prestige, invested in the development and maintenance of that building, so the money spent is an investment in things more than just a physical structure.

There are three arenas on this list that cost over $400 million to build. One is Mark Cuban's American Airlines Center in Dallas, used to host the Mavericks ($420 million). Another is the Amway Center for the Orlando Magic ($480 million). A third building is one that is opening this year, the Barclays Center in Brooklyn. It will host the relocated Brooklyn Nets, who have left New Jersey. The cost of construction is $1 billion.


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