An unprecedented number of large ice hockey arenas were built in Sweden between 2000-2014. This study explores the motives and rationale behind these capital investments in Swedish ice hockey arenas. Based on a multiple data gathering methods, this research conclude that capital investments in sport arenas are primarily driven by the need for rationalization and improvement of events, increasing societal image building through sport and an increasing focus on social enrichment in the competition for attracting citizens and companies to municipalities. Close collaborations between local politicians, club executives and entrepreneurs have provided creative financial solutions for the new arenas. The ice hockey arena projects have been legitimized from a societal perspective through either overly optimistic or manipulated sophisticated capital investment methods, which provided the necessary support for the political decision rationale that has been dominating these projects. A consequence of the arena projects, is an increased commercialization and professionalization of Swedish hockey.