America’s Team wants to continue providing a premium experience for fans at its $1.3 billion stadium. 

The Dallas Cowboys are reportedly planning upgrades at AT&T Stadium that could cost approximately $295 million. 

Owned by Jerry Jones, who has a net worth of $13.9 billion, per Forbes — the team intends to upgrade the stadium’s premium spaces ahead of hosting matches for the 2026 FIFA World Cup. The team also plans to upgrade technology throughout the facility. 

• AT&T Stadium, formerly Cowboys Stadium, opened in 2009 and has been coined the “Taj Mahal of football.”
• The facility has a standard capacity of 80,000 that can be expanded to 100,000.
• It hosted Super Bowl XLV in 2011 between the Green Bay Packers and Pittsburgh Steelers. Jones aims to have the stadium host another Super Bowl, along with other major events.

Costs for the upgrades at AT&T Stadium will be paid by the Cowboys, but the team is seeking assistance by asking the other 31 NFL teams for approval to withhold their customary contributions to shared gate revenue — a method commonly used to finance facility upgrades.

The Cowboys — the most valuable sports team in the world at $8 billion — also plan to submit a waiver for the NFL’s $600 million team debt limit.

Not Alone

The Denver Broncos are planning $100 million in upgrades at Empower Field at Mile High. The refurbishment comes after the stadium was damaged by a fire in March that impacted 14 suites and roughly 200 club seats at the 76,000-capacity venue.

Lululemon continues to record financial gains despite the tight economic environment.

The athleisure company reported a 28% year-over-year increase in third-quarter revenue to $1.9 billion — a 103% increase from 2019.

• Revenue in North America jumped 26% year-over-year. 
• International revenue increased 41%.
• Income from operations rose 37% year-over-year to $352.4 million.

Comparable store sales increased 14% year-over-year, and direct-to-consumer net revenue jumped 31%. Direct-to-consumer net revenue made up 41% of total net revenue.

Inventories increased 85% year-over-year to $1.7 billion.

Lululemon expects fourth-quarter revenue to land between $2.61 billion and $2.66 billion and full-year revenue to be in the range of $7.94 billion to $7.99 billion.

Under the company’s growth plan — which focuses on product innovation, guest experience, and market expansion — Lululemon aims to reach $6.25 billion-$12.5 billion in revenue by 2026.

Lulu Launches 

During the three-month period, Lululemon opened 23 new stores — totaling 623 locations — and launched a new fitness platform and membership program.

The Lululemon Studio Membership, which requires the Lululemon Studio Mirror, costs $39 per month and includes unlimited access to content from the Studio and its partners, discounts at partner locations, 10% off Lululemon purchases, and other perks.

Manchester United continues to show signs of bowing to public pressure and inching toward a sale.

The Premier League club’s board opted not to distribute a dividend for fiscal 2023, breaking a practice that it began in 2016.

• Manchester United earned $176.7 million in the third quarter, up 13.6% year-over-year.
• While broadcasting revenue dipped, the team got a strong boost from its commercial revenue, which grew 35.7% to $107.5 million.
• Man U still took a $32.6 million loss in the quarter.

The team distributed dividends totaling $41.3 million in the 2021-22 season, a move that drew criticism given that Man U lost $142 million in that period. During that time, the team also took on more debt through $49.2 million in overdraft loans.

It maintained $650 million in long-term loans and other non-current borrowings.

The Glazer family is exploring a sale of the team and has retained the Raine Group, who helped manage the Chelsea sale. Forbes recently valued the club at $4.6 billion – first in the Premier League and third globally.

World Cup Boost

Manchester United sent 15 players to the World Cup in Qatar, 12 of whom were still in the tournament heading into the quarterfinals.

That will help the club land a healthy share of the $209 million FIFA will pay out to clubs whose players feature in the global tournament. Teams receive $10,000 per player daily for every day a player remains in competition.