Before long, New York won’t be the only city with an MSG all its own. Several venues associated with Madison Square Garden are in the works around the world, including one in London and one in Las Vegas. The latter has a number of high-profile artists set to appear there, with U2 slated to open the space with a residency later this year and Phish rumored to be in talks for an appearance as well — but it comes at a big cost.
If rumors of its construction costs are to be believed, the Sphere is likely to need a significant number of in-demand events in the coming years. Citing reporting from Billboard, Consequence of Sound reports that the total cost of the MSG Sphere is approaching $2.3 billion — or one billion dollars more than was initially proposed.
The Sphere was initially estimated to cost $1.2 billion. Based on SEC filings, that figure has now expanded to $2.3 billion. And if you’re curious about what that cost looks like relative to some other recent high-profile projects, consider: the ongoing renovation of LaGuardia Airport, by comparison, cost $8 billion, while the next stage of New York City’s 2nd Avenue Subway is estimated to cost $6 billion.
As for other projects rumored to be in the works for Las Vegas, the Las Vegas Review-Journal recently cited the cost of a ballpark for a relocated Oakland A’s to be in the neighborhood of $1.5 billion.
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Consequence’s reporting points out that the increased costs are due to multiple factors, including the sound system and other technical features of the space. A few pandemic-related delays also played a part in the increased costs. The MSG Sphere is slated to open in September.
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