(WXYZ) — Jay Farner, the founder of Ronin Capital Partners and former Rocket Mortgage CEO, is investing in Detroit City FC.
The investment will be the largest single investment in the club's history, and will come through Ronin Sports & Entertainment Group, which is the sports investment division of Ronin. Farner will also join DCFC's board of directors.
According to an announcement by Ronin and the club, the investment will help fuel the construction of AlumniFi Field, the new 15,000-square-foot stadium set to open in the spring of 2028.
“Detroit’s been a large part of my life for many decades, and I’m excited to support DCFC’s growth here in our hometown,” Farner said in a statement. “What the founders, supporters and ownership group has built is extraordinary: a passionate supporter culture, a deep connection to the community and a bold vision for the club’s future.
Watch below: Past coverage on the opening of DCFC's AlumniFi Field
The $150 million soccer-specific stadium is located at the site of the former Southwest Detroit Hospital in Corktown. Along with the stadium, there will be a $200 million mixed-use development that includes a parking garage and residential building.
“As longtime residents of this neighborhood, we are profoundly grateful for the opportunity to bring this site back to life with a community-rooted stadium that will be the forever home for professional soccer in this region,” DCFC CEO Sean Mann added in a statement. “Jay’s investment and belief in this project — and in Detroit — is exactly the kind of partnership that accelerates what we’re building. He understands this city, has built something lasting here, and we’re thrilled to have him at the table.
This is the latest sports investment for Ronin Sports & Entertainment. Other investments include Student Athlete Score, a sports marketing intelligence platform for high school & college athletes; DUPR, the a pickleball ratings system; and both the TGL and Motor City Golf Club, the indoor golf league and a team inside the TGL.
