Up-and-coming sports entertainment firm Cosm has Indianapolis on its list of markets under consideration for one of its high-tech video and hospitality venues.
Five sources familiar with the matter told IBJ that Indianapolis is firmly on the company’s radar, with work now underway by city sports tourism officials to secure an agreement that would bring a Cosm venue downtown—either as part of the Circle Centre redevelopment or the proposed soccer stadium district several blocks to the east.
IBJ’s sources, all of whom spoke on a condition of anonymity because they were not authorized to speak publicly, said the interest in making Indianapolis one of Cosm’s next locations is mutual. However, each source also said that no specific development proposals have been finalized or presented to city officials or local firms, although work to that end is underway.
The firm already has venues in Dallas and Los Angeles, with venues in Atlanta and Detroit set for 2026 openings.
Cosm venues feature anywhere from 1,500 to 2,000 seats in a tiered, stadium-inspired layout with a curved, panoramic 12K screen spanning about 85 feet in diameter. They typically showcase sporting events in a highly immersive audiovisual environment.
The company broadcasts major sporting events from the perspective of someone inside the host venue—and on top of the action—rather than the omniscient perspective of television. Some sports entertainment industry observers have described the concept as a cross between a traditional sports bar, the Sphere in Las Vegas and an Imax movie theater.
Cosm has partnerships with ESPN, Fox Sports, Amazon, CBS, the NFL, the NBA, the UFC and several other prominent sports brands to broadcast events. It also shows specially produced shows that can be accommodated by its screen’s design.
Much like tickets for live events, the price of admission at Cosm largely depends on a spectator’s location in the venue and the event’s caliber. For example, tickets for the Nuggets-Warriors NBA game played Monday night ranged from $22 to $55 inside the Dallas venue’s dome, while standing-room and first-level admission outside the dome is $6 to $11.
Indianapolis sports tourism officials have been pursuing Cosm through multiple channels over at least the past nine months, four sources said. That includes through direct involvement of Indiana Sports Corp. and Sports Tech HQ, as well as both Wisconsin-based Hendricks Commercial Properties and Pacers Sports & Entertainment.
Hendricks is the firm behind the Circle Centre project, while PS&E owns the Indiana Pacers and Indiana Fever and is involved in the effort to establish a Major League Soccer club in the city.
A timeline has not been finalized for when Cosm might move ahead with plans for an Indianapolis location, but the four sources said both Hendricks and PS&E officials have begun preliminary work on what a Cosm in Indianapolis might look like and how it would be incorporated into the downtown core.
The companies are also described as not competing with one another for the venue, but instead have been focusing on giving Cosm an opportunity to pick between the downtown sites. They would then look at potential for collaborating with one another, local sports leaders, the city and the state to move the project forward, three of the sources said.
So far, neither site has been described as the favorite for the venue, as both have space to accommodate the company’s expected 50,000- to 70,000-square-foot footprint, and each comes with its own advantages and disadvantages.
The Hogsett administration, which did not return a call requesting comment, may view either location as a win, two sources said, as both options would place Cosm in the core of downtown near convention and event traffic. Additionally, both sites are also within the proposed professional sports development area taxing district now being considered by the Indiana Finance Authority that would help cover public costs for a soccer stadium.
If such a venue were incorporated into the Circle Centre redevelopment, it would likely mean an adaptive reuse project tied to a portion of the existing mall structure. It theoretically could go on a fairly quick development timeline.
Placing Cosm in the immediate area of the proposed soccer stadium would require new construction, but sources said putting it there could also make the project contingent on the city securing a commitment from MLS for a team. It’s not clear when MLS would make a decision.
Given the cost of developing a Cosm venue, which is about $80 million to $90 million, three sources said they would expect local development partners, the city and even the state to play some sort of role in helping Indianapolis close a deal. The company itself also typically contributes a large portion of the development cost, the sources said.
Officials with Hendricks and Pacers Sports & Entertainment, IndianSports Corp. and Sports Tech HQ declined to comment for this story. A Cosm representative did not respond to a Monday inquiry from IBJ.
Marc Ganis, owner of Chicago-based sports agency Sportscorp Ltd., said he thinks Indianapolis is a strong fit for Cosm given the region’s affinity for sports and the growth being eyed by the company over the next several years.
“It’s a really interesting concept and it would be a big feather in Indianapolis’ cap to get one,” he said. Cosm is “looking for that major expansion, so it’s not a surprise that Indianapolis is one of the places they’re looking at.”
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