FIBA is set to host the 19th edition of the men’s basketball World Cup in Philippines, Japan and Indonesia this year. The prestigious tournament will witness some of the best talents in the world battle it out for the coveted gold medal. The Philippine Arena in Manila, Philippines will serve as the venue that will set this highly anticipated event off. However, this venue features a stark difference from two of NBA’s most iconic arenas, which the Golden State Warriors and the New York Knicks call their homes.

The Chase Center in Oakland and the Madison Square Garden in New York have both witnessed some historic moments in the league’s history. However, both venues costed a fortune to build. This is where the 55,000-seater Philippine Arena differs from these two iconic venues. So how much did the Philippine Arena cost to build?

How much did the Philippine Arena cost to build?

The Philippine Arena currently holds the largest capacity for an indoor stadium in the world. Its 55,000 capacity makes it a true state-of-the-art construction. While the Chase Center and the Madison Square Garden capacitate 18,064 and 19,580 respectively, the Philippine Arena holds 55,000 fans, overtaking the two legendary venues by a mile. No wonder FIBA decided to host the grand opening ceremony of the 2023 FIBA World Cup at this venue.

However, the cost of building this spectacular venue was cheaper than the two iconic NBA venues.

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The world’s largest indoor arena, Philippine Arena cost a grand total of $213M to build. This may seem like a staggering amount but wait till you find out what the Chase Center and the Madison Square Garden cost.

The Warriors’ move from the iconic Oracle Center marked a significant moment in the franchise’s history. They moved to the Chase Center, located in San Francisco after spending years in an Oakland-based arena. However, the construction of the Chase Center did not go easy on the franchise’s pockets. The construction cost of the Chase Center added up to a whopping $1.4B.

The Madison Square Garden on the other hand, has served as the Knicks’ home since 1946. The legendary venue has undergone several renovations over the years to reach its current state. However, these renovations have added up to a total of $1.19B.

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Both the MSG and the Chase Center are two billion-dollar investments that have grown to become iconic arenas in the NBA. However, the Philippine Arena has outranked both these venues with a much lower cost. The Arena also has some other features that have set it apart from other venues of the world.

The Philippine Arena is a state-of-the-art construction

The Philippine Arena is not only the largest indoor arena in the world but also a state-of-the-art construction. The FIBA World Cup venue is iconic in its own ways, even for basketball.

The Arena is a 36,715-m² fully air-conditioned venue and a one-sided, bowl-shaped area featuring a theatre-style stage at one end. It operates as a multi-purpose venue, catering to sports, religious events and concerts. The famed arena has been graced by several iconic musicians as well, given its massive structure. The venue also hosted the Philippines national team’s games during the 2023 FIBA World Cup Qualifiers.

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The Philippine Arena is clearly a modern-day marvel with some spectacular features. The Arena overhauled both the Chase Center and the Madison Square Garden with a significantly lower cost of construction. The legendary arena will now witness the inaugural game of the FIBA World Cup as Team Angola take on Team Italy. It will also host the grand opening ceremony of the event.