The NFL is hoping to make its stadiums more attractive to tourists, but one of the projects it is looking to fund is a $1.4 billion upgrade to its parking lots.
Article 2 of 12The NFL has been under pressure to pay for upgrades to its stadiums, which are seen as crucial to its economic growth.
The league recently announced that it would be investing $250 million in new parking garages and parking structures to improve the fan experience at stadiums across the league.
The new facilities will help the league build up a more appealing fan experience for visitors.
The project is expected to cost $1 billion, according to NFL sources.
The $250-million project is designed to replace parking lots that are typically used for concerts and other events that are usually reserved for members of the public.
This year, the league had more than 20 million guests attend a Super Bowl game.
The league said it will pay for the upgrades by using an incentive program, or a tax break, similar to those offered to retailers.
The incentive program allows stadiums to charge an extra fee for tickets and merchandise purchased at designated locations.
The NFL will be required to make a financial commitment to the project.
The NFL’s revenue in the first half of this year totaled $2.9 billion, an increase of $8.4 million from the same period last year.
The cost of the upgrades will be paid for by the owners, according a source familiar with the plans.
The plan was not disclosed.