Detroit City Football Club Holdings today announced Jay Farner, founder and CEO of Ronin Capital Partners in Birmingham, will be making the largest single investment in the club’s history. The amount of the funding was not provided.
The investment, through Ronin Sports & Entertainment Group, the sports investment division of Ronin, will assist with the construction of Detroit City FC’s AlumniFi Field at the southwest corner of Michigan Avenue and 20th Street in southwest Detroit.
AlumniFi Field is a $150 million, 15,000-seat, soccer-specific stadium that will anchor a broader $200 million mixed-use development building on recent investments in the Corktown and Mexicantown neighborhoods. The general contractor is Barton Malow in Southfield.
The development, unanimously approved by the Detroit City Council following a Community Benefits engagement process, also will include a 421-space parking garage and a 104-unit residential building with 76 affordable housing units.
As part of the investment, Farner has joined the DCFC Holdings board of directors.
“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,” says Farner. “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.
“With the continued growth of the United Soccer League (USL) and an amazing permanent stadium on the horizon, Detroit City FC is uniquely positioned for success.”
Construction is on track for the stadium to open ahead of the 2028 USL Championship season — with nearly 6,000 seat deposits already secured — according to Detroit City FC. It was originally projected to open in spring 2027.
The broader development is projected to create more than 1,030 construction jobs and 140-plus permanent full-time positions while establishing a year-round destination for sports, entertainment, and community events.
“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,” says Sean Mann, CEO of Detroit City FC.
“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.”
Ronin Capital Partners has a diverse investment portfolio that provides capital and strategic support across real estate, finance, sports, hospitality, technology, and startups.
Its sports portfolio includes investments in Detroit City FC; Student Athlete Score, a sports marketing intelligence platform for high school and college athletes; DUPR, the world’s leading pickleball ratings system; and TGL, the team golf league created by TMRW Sports.
Ronin also is an investor in Motor City Golf Club, supporting both the club’s men’s and women’s teams as they compete in TGL.
Previously, Farner spent 27 years helping build Quicken Loans and Rocket Cos. into one of the nation’s most recognized financial services organizations. As former CEO, he led Rocket Cos. through its successful 2020 initial public offering on the New York Stock Exchange and spearheaded the launch of Rocket Mortgage, the nation’s first fully digital mortgage experience.
Founded by five Detroiters in 2012, Detroit City FC includes men’s professional and women’s pre-professional sides, an indoor soccer facility, the Detroit City Fieldhouse, and the sports bar City Clubhouse.
For more information, visit alumnififield.com or ronincp.com.
