U.S. investor Nick Gross is joining Sacramento Kings G Russell Westbrook in “backing a new entertainment district in Oklahoma City anchored by a new soccer stadium,” according to Maxwell Adler of BLOOMBERG NEWS. Echo founder & CEO Christian Kanady said that an investment firm tied to Gross, along with Russell Westbrook Enterprises and Echo’s venture capital arm Echo Investment Capital, are “pouring more than” $1B into the 50-acre project. A spokesperson for Gross said that his father, Pacific Investment Management Co. co-founder Bill Gross, is not “involved in the Oklahoma City project.” At the center of the district will be a “soccer stadium with 10,000-plus seats that the city has committed about” $120M of public funds to, “some of the money will come from the sale of” $50M in “voter-approved general-obligation bonds.” Gross said, “I really looked at Oklahoma City as an opportunity. It’s one of the top five highest emerging cities in terms of where people are moving to and where the action is happening.” Oklahoma City and its private development partners hope that the new stadium will “position the city to capitalize on the popularity of soccer.” Construction of the stadium is “expected to begin next year,” with a “scheduled opening in January 2028” (BLOOMBERG NEWS, 12/15).
MAKING A DIFFERENCE: In Oklahoma City, Steve Lackmeyer noted Gross is making an “eight-figure investment” with a “focus on community-driven education” powered by Gross Labs’ future-ready learning platform for middle and high school students, Find Your Grind. Gross said that Find Your Grind, which will be expanded to Oklahoma City via the stadium district, works with kids to “look at who they want to be and not ‘what do they want to be.’” Gross noted that the program is currently “being used in 200 school districts.” His goal is to “expand it throughout Oklahoma City, within which 25 school districts fully or partially operate.” In a district in which Westbrook has already stated that he will be “bringing his eye on fashion to the district as part of his role as creative director,” Gross said that the “educational component will not be limited” to Find Your Grind. The overall development is “expected to hit” $2B with plans including “hotels, restaurants, entertainment and housing” (OKLAHOMAN, 12/15).
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