Memphis Sports and Events Center has had $40M economic impact; on track for 1M visitors

COREY DAVIS // MEMPHIS BUSINESS JOURNAL // ARTICLE LINK

The 227,000-square-foot Memphis Sports and Events Center (MSEC) at Liberty Park has already been a big economic score for the Bluff City with several major events taking place.

MSEC general manager Antonio Perez recently told MBJ that the facility has seen strong traffic since it opened in December. The MSEC has registered more than 630,000 visitors to date and expects to hit 1 million by the end of 2023.

“From a booking perspective for a year-one building, we have a lot of stuff going on,” he said. “The quality of events we’re getting is what really stands out. For a building this young, you wouldn’t think we'd be getting the business that it does. But that’s a credit to our sales team, the City [of Memphis], and to the design, which are all things that enticed these operators to come mostly to a site unseen. A lot of these [events] were booked before the place was even open, so it’s a credit to all those people involved.”

Memphis Sports and Events Center's big events, economic score

The major events that have so far taken place at the MSEC have helped bolster the area's economic fortunes, as well as provide a boost to the local hotel market.

According to figures from Memphis Tourism, the facility’s major events in 2023 have led to nearly 45,000 requested hotel nights and a total economic impact of $39.8 million.

A recent non-sporting event drove up that impact figure. The National Bikers Roundup from Aug. 1-6 was hosted by the MSEC at Tiger Lane. The event had about 12,000 requested hotel room nights and registered $21.6 million in economic impact, according to Memphis Tourism data.

That event is in addition to headlining basketball events at the MSEC.

The Nike Elite Youth Basketball League (EYBL), which took place at the MSEC during Memorial Day weekend, was one of five EYBL stops. Nike's EYBL featured top prospects such as Cooper Flagg, who is ranked as the No. 1 recruit in the country, as well as Bryce James, son of NBA superstar LeBron James.

Late July at the MSEC featured the NCAA College Basketball Academies. That basketball event had men’s teams and first-ever women’s teams editions, as well as USA Basketball and Team Canada integrations. The Basketball Academies drew thousands of visitors daily over a nine-day stretch, according to Perez. The academies were the only events that Division I coaches were allowed to attend during that time. Notable college head coaches, such as University of Memphis head men's basketball coach Penny Hardaway and Michigan State’s Tom Izzo, were present at the men's basketball games.

The Nike EYBL event led to 4,300 requested hotel room nights and an economic impact of $2.29 million, while the NCAA College Basketball Academies events had 14,000requested hotel room nights and generated $7.28 million in economic impact, according to Memphis Tourism data.

“When you talk about Nike and NCAA basketball, those are the best-of-the-best type operators,” Perez said. “The EYBL is one of the preeminent youth basketball events in the country. Future NBA stars of tomorrow are the ones playing in those types of events, so for Memphis to gain one of those spots was a big deal because cities fight to get those dates. With the Basketball Academies, it was a full facility takeover for 10 days where we suspended local programming. It was a big commitment on their [NCAA] end, and they loved the city, venue, and hospitality.”