Could More Sphere Arenas Be Built in Chicago or New York? This Dolan Advisor Weighs In.

The Sphere in Las Vegas. (Bridget Bennett/Bloomberg)

The success of the Sphere arena in Las Vegas has prompted speculation about where parent Sphere Entertainment will build new venues modeled on the Sin City property.

Sphere Entertainment executives led by CEO James Dolan have said little on that score. However, Irving Azoff, a close advisor to Dolan and business partner of the company, said recently that Chicago, Austin, Texas, Orlando, Fla., and even New York City are possibilities.

Azoff, 77, heads Azoff Co., a music and entertainment company, and founded Oak Ridge, which offers venue development and management services. He has no formal role at Sphere Entertainment.

In a Bloomberg TV interview last week, Azoff said he’d like to see four smaller Spheres around the U.S.

The Vegas Sphere has a seating capacity of some 17,600, and Sphere Entertainment has talked about building smaller Sphere venue with capacities of closer to 5,000 seats—more on the scale of Radio City Music Hall in New York.

Azoff said there is a “great site in Chicago if the city can get it together.” He added that Austin or another Texas city would be another good location, plus Orlando. On New York, Azoff said: “Jim has been trying there for a long time.”

It’s not easy to locate a new Sphere arena, due to land availability, zoning, and other issues in American cities, as well as potential community opposition. Local opposition killed a Sphere project almost two years ago in London.

Sphere Entertainment had no comment on Azoff’s statements.

Sphere Entertainment, a Barron’s stock pick in May when it traded for slightly more than $30, has seen its shares rise nearly 50% this year to around $60 as investors have grown more bullish on the Vegas Sphere economics helped by the popularity of the Wizard of Oz movie that debuted there this summer.

More Spheres would be bullish for the company because of royalty and other income, as well as the ability to distribute original programing in multiple locations. The company has a market value of about $2.2 billion. Wolfe Research analyst Peter Supino recently boosted his price target on the stock to $85 from $65.

Azoff also said on Bloomberg TV said the Abu Dhabi Sphere would break ground around Jan. 1, 2026.

Sphere Entertainment announced a deal to build a Sphere in the Persian Gulf nation last October, but has been mum on the timing. Azoff’s Oak Ridge is a project manager of that development.

Azoff was asked what artists he would like to see perform at the Vegas Sphere, which has hosted such acts as U2 and the Eagles for extended runs or residencies. He said there hasn’t been a young artist perform there and suggested three: British pop star Harry Styles, Korean boy group BTS, and Taylor Swift.

He also mentioned Bruce Springsteen and noted that he was with Paul McCartney at the Sphere recently. “He would be great there,” Azoff said.

Azoff called James Dolan a “misunderstood genius” who had a vision for a spherical arena with an immersive sound system that didn’t exist before the Vegas Sphere opened in September 2023.

Dolan’s family controls Sphere and two other companies, MSG Entertainment , the owner of the Madison Square Garden arena, and MSG Sports, the owner of the New York Knicks and Rangers.

Write to Andrew Bary at andrew.bary@barrons.com