Former Rocket Companies CEO Jay Farner is making what Detroit City FC calls the largest single investment in club history, giving the club a major financial boost as it continues work toward its future stadium project in Southwest Detroit.
Detroit City FC announced Monday that Farner, the founder of Ronin Capital Partners and former CEO of Rocket Companies, is making the investment through Ronin Sports & Entertainment Group, the firm’s sports investment division. The exact dollar amount was not disclosed.
As part of the move, Farner will also join the DCFC Holdings board of directors.
Investment tied to club growth and stadium project
The club said the investment will help support both the continued growth of Detroit City FC and the construction of AlumniFi Field, the club’s planned 15,000-seat stadium in Southwest Detroit.
The stadium project is being built on the site of the former Southwest Detroit Hospital near Michigan Avenue and 20th Street. It had previously been targeted for a 2027 opening, but it is now slated to open in 2028.
DCFC has said the delay was tied to a series of roadblocks, including environmental cleanup issues and complications during the demolition of the old hospital site.
Broader $200 million development
The stadium is part of a broader $200 million mixed-use development. Reports and project materials indicate the stadium itself carries a projected cost of roughly $153 million.
In addition to the new stadium, the broader development is expected to include a 421-space parking structure and a 104-unit residential building, with 76 units advertised as affordable housing.
The overall project has also received approval for $88 million in public funding, including brownfield tax-increment financing reimbursements.
Strong demand already shown
According to project details cited in Monday’s coverage, Detroit City FC already has nearly 6,000 seat deposits tied to the new stadium.
The club has also said the project is expected to create more than 1,000 construction jobs and around 140 full-time jobs.
DCFC currently plays its home matches at Keyworth Stadium in Hamtramck, but the planned move to AlumniFi Field represents one of the biggest long-term developments in club history.
Farner and club leadership weigh in
In announcing the move, Farner said he sees Detroit City FC as being positioned for continued success because of the growth of the United Soccer League and the club’s long-term stadium vision.
DCFC CEO Sean Mann said the investment will help accelerate the club’s next phase and called the partnership an important step in building a lasting home for professional soccer in the city.
The investment marks another major milestone for the club as it pushes forward with a stadium plan that would give both its men’s and women’s teams a permanent home in Southwest Detroit.
