Cosm, the immersive technology company that broadcasts live sports events using what it calls “shared reality,” is partnering with the National Football League, the company announced Monday.

As part of the deal, Cosm will produce and distribute NFL games at its venues throughout the rest of the 2024 season.

The deal includes broadcasting every Thursday night football game on Amazon, all Sunday night games on NBC, every Monday night football game on ESPN and select games on Sunday with Fox.

The company, founded in 2020 by Mirasol Capital, uses a 360-degree dome with giant 12K+ LED screens to offer viewers a fully immersive “shared reality” experience that mirrors being at the game.

The domes fit about 700 people with the average ticket price ranging between $22 and $127. Cosm uses a dynamic pricing model, similar to concerts or live sports.

“What’s so unique about a property like the NFL is that fandom is everywhere,” said Jeb Terry, president and CEO at Cosm. “We see fans coming in wearing jerseys, bringing the Terrible Towel, bringing cow bells, having an absolute blast, like they’re at the stadium themselves.”

The company did not disclose the financial details of its deal with the NFL.

Cosm first opened its doors in Los Angeles and Dallas this summer and recently announced its third venue would be in downtown Atlanta, with future locations to be announced soon.

Cosm already has deals in place with the NBA, UFC, ESPN, NBC Sports, TNT Sports, Fox Sports and Amazon Prime Video, and broadcasts everything from the Summer Olympics in Paris to the current World Series.

Tickets for the first game of the World Series featuring the Los Angeles Dodgers and the New York Yankees sold out in seven minutes, Cosm said. The second game sold out in one minute.

“Inventory is flying off the shelf,” Terry said.

While live sports act as the core anchor for Cosm, the company also has nonsports offerings, including an animated voyage beyond the planets through the eyes of astronauts and a Cirque du Soleil show. This allows the company to have programs throughout lunch and matinee hours when live sports may not be available.

As fans’ viewing habits are changing, Cosm is finding rapid success in its tech-forward model.

Terry said the venues are already seeing repeat customers and they will soon be introducing membership rewards and season passes.

In July, the company raised more than $250 million in funding to expand globally. Cosm is valued at more than $1 billion, and its investors include sports heavyweights such as former Milwaukee Bucks owner Marc Lasry, Cleveland Cavaliers owner Dan Gilbert and co-managing partner of the Philadelphia 76ers and the New Jersey Devils David Blitzer.

Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.

The National Football League’s Cleveland Browns are leaving the shores of Lake Erie.

The Browns plan to leave their current open-air stadium in the city of Cleveland for a yet-to-be-built domed stadium in Brook Park, Ohio, according to a press release from Cleveland Mayor Justin Bibb that was later confirmed by the Browns owners.

Jimmy and Dee Haslam, the principals of the ownership group that owns the Browns, notified Bibb of their plan to move on Wednesday night, according to Bibb. He announced the news in a scathing Thursday press release in which he called the Haslams’ choice “driven by a desire to maximize profits rather than positive impact.”

“They had the opportunity to reinvest in Cleveland, transform the current stadium into a world-class facility, enhance the fan experience, and remain highly profitable,” Bibb said. “We put those options on the table in good faith. Unfortunately, that was not enough.”

In a joint statement, the Haslams said it was essential that the team had a domed stadium for “year-round activity,” and the economics of building a dome on some designated land that was still on the lake in the city of Cleveland did not make sense.

Huntington Bank Field, where the Browns currently play, hosts concerts and other non-football events, but the harsh weather limits the number of events on an annual basis. The lease for the Browns’ current stadium expires after the 2028 NFL season, so the plan is to open up the 2029 season at the Brook Park dome, according to a spokesperson for the Cleveland Browns.

A stadium’s ability to generate income from non-football events has gotten even more attention lately. One NFL stadium netted $4 million in revenue per show during Taylor Swift’s Eras Tour in 2023, CNBC earlier reported.

The Brook Park dome will not use existing taxpayer dollars, the release said.

“Instead, the over $2 billion private investment, together with the public investment, will create a major economic development project that will drive the activity necessary to pay the public bond debt service through future project-generated and Browns-generated revenue,” the Haslams said in the release, while also emphasizing they were still committed to bettering the city of Cleveland.

The Browns’ departure will cost the city of Cleveland $30 million per year in economic impact, according to the mayor’s release. The city is still open to resuming negotiations if the Brook Park venue does not work out, Bibb said.

The City of Cleveland and Haslam Sports Group have been negotiating about renovating the existing stadium or potentially building a new one in Cleveland. But the Haslam Sports Group had also been considering a $2.4 billion dome in Brook Park, according to the Associated Press, and intends to go with that option.

Brook Park is just more than 16 miles from the Browns’ current stadium, which was built in 1999.

The Browns are valued at $6.02 billion, according to CNBC’s Official 2024 NFL Team Valuations. The Browns recently reached a naming rights agreement with Huntington National Bank for their current stadium.