They'll probably just tear down a bunch of shit and put it there. Or maybe it's a floating fortress above the city with massive elevators taking people from the ground to the stadium.
Owner mode is seemingly coach mode except they also can do things like set prices, hire/fire staff, update stadiums/relocate. And while the Super Bowl is paramount, making the most money is also paramount. I am unaware if you can actually play the game of if you can just sim it or coach it. They also have the occasional press conference (A/K/A you get asked a question and can choose how you answer and your answer will give you different benefit/detriment).
I spent a few hours in it, but unfortunately I forgot to save and the game froze. I was myself owning the Jets and then I added a second character to be Shad Khan and moved the Jags to LA. You get to choose from like 25 different cities, then get the choice of 4 names (current name/logo and 3 new combos), then the uniforms I think, then you spend a while on the stadium.