Rhode Island FC, a new professional soccer club owned by Brett Johnson, is set to debut in the USL Championship this summer before moving into their new $130 million, 10,500-capacity Stadium at Tidewater Landing in spring 2025. The club’s ownership of the stadium will allow them to capitalize on revenue opportunities like naming rights, premium seating, food and beverage sales, and more.
Johnson’s focus on rectangular-shaped stadiums for soccer and other sports is evident in the design of the new venue, which will be the first outdoor all-electric sports venue in the country. The stadium’s versatility will allow it to host not only soccer matches but also rugby, lacrosse, concerts, and even a skating rink in the winter months.
Despite financing challenges and delays due to inflation and COVID-19, Rhode Island FC was able to secure funding for the stadium project through a combination of private equity, tax increment financing bond sales, and Rebuild Rhode Island tax credits. The completion of the stadium represents a significant victory for the USL, as many other clubs have faced setbacks with stadium projects.
The multiuse design of Tidewater Stadium reflects a growing trend in smaller markets opting for rectangular venues with mixed-use development to maximize revenue potential. With plans for mixed-use development on the opposite riverbank and a focus on hosting a variety of events year-round, Rhode Island FC’s new stadium offers a clear path to profitability and success for the club and the league as a whole.
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