On January 18, Sphere Entertainment Co. and the State of Maryland announced plans to construct a smaller-scale model of the Las Vegas Sphere. Under the proposal, the new Sphere would be located in the National Harbor waterfront district. In 2009, Disney bought land in the area for a resort hotel.
The Las Vegas Sphere – Sphere, YouTube
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Two years later, Disney abandoned the idea—a decision the company may have come to regret. Since that time, National Harbor has become a tourist destination with resorts and casinos, in addition to historical landmarks. Had Disney held onto the property, Sphere may not have been able to acquire real estate in the limited space.
Now, in a moment of corporate irony, Nelson Peltz may have the last laugh.
Why Nelson Peltz Matters Now
Peltz is a Class A independent director on the board of Madison Square Garden Sports Corp. (MSG) from which Sphere Entertainment Co. was spun off in 2023. While not directly involved in management or control of Sphere venues, he remains close to business decisions that overlap with MSG’s interests.
Nelson Peltz via CNBC
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But in 2023, Peltz and his firm, Trian Fund Management, engaged in a heated proxy war to get him on the Disney board of directors. Peltz was ultimately unsuccessful after Disney shareholders rejected his bid. The billionaire subsequently sold off all of his stock in The Walt Disney Company in May 2024, later calling the Disney board inept and corrupt.
The fact that Disney seemingly allowed premium National Harbor real estate to slip through its fingers could be seen as proof that Peltz was correct in his first assessment.
The Economic Impact of the Sphere
The new Sphere venue will be a smaller-scale model of the Las Vegas landmark. While the original Sphere can seat 17,600, the Maryland venue is being designed for just 6,000 guests. In a press release, Sphere Entertainment promised that it will utilize all of the technology of the Las Vegas Sphere, including the world’s highest-resolution LED screen, immersive sound, haptic seating and 4D environmental effects.
Concept art for the new Disney theme park in Abu Dhabi – Disney
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James L. Dolan, executive chairman and CEO of Sphere Entertainment, said that the company’s focus “has always been on creating a global network of Spheres across forward-looking cities.” Plans are already underway to build a second full-sized Sphere in Abu Dhabi, which will likely be completed before Disneyland’s next expansion in the region opens sometime in the 2030s.
For now, it appears that companies working with Peltz are one step ahead of the House of Mouse.
The Last Word
Governor Wes Moore of Maryland expressed excitement for the project, noting the economic benefits of a new tourist destination. The Sphere in Las Vegas is reportedly one of the top-grossing venues worldwide, and the economic impact of Sphere National Harbor is expected to be greater than $1 billion annually.
Parade of Planets on the Las Vegas Sphere – Sphere, YouTube
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However, an official start for the project is still pending as it must go through the county and state approval process. Agreements on construction, development, financing and operation, as well as government incentives, are still being negotiated.
In the world of high-stakes entertainment investments, lasting victory often goes to those with the right balance of imagination and business acumen. The Disney board may have missed an opportunity to gain a foothold in a new tourism hotspot—Nelson Peltz may be having his moment of schadenfreude.
What do you think of the Sphere coming to National Harbor? Did Disney miss out? Let us know in the comments!
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