Goodman: Soccer is a “world sport”??
Two separate groups are now vying to bring Major League Soccer to Las Vegas. Neither of the groups has disclosed how much taxpayers would have to kick in to bring the sport to town.
The first proposal comes from Findlay Sports & Entertainment and its development partner, the Cordish Companies of Baltimore. Justin Findlay, the company’s managing partner, said he expects the stadium price, financing plan and proposed public contribution to be presented early next month. The Las Vegas Review-Journal has reported that the soccer stadium would cost at least $125 million, while the MLS expansion fee would be an additional $70 million.
“Nothing is settled. There is nothing we can discuss at this point,” said Findlay.
Las Vegas would vie for the team franchise with at least five other cities, the Review-Journal reported. The others are San Antonio, Austin, Sacramento, San Diego and Minneapolis.
Findlay said Las Vegas is on the MLS “short list” for the final team, but MLS spokesman Dan Cortemanche refuted that. “We’re intrigued by Las Vegas,” Cortemanche said. “But there are a lot of interested markets.”??
According to CDC Gaming Reports, Jason Ader, owner of a Manhattan fund management company and a director and shareholder of the Las Vegas Sands Corp., said last week he is going to launch a $350 million effort to bring a soccer team to Las Vegas, complete with a new covered stadium with up to 20,000 seats.
??“The second mouse gets the cheese,” Ader said. “This is not something that will happen overnight.” Ader said $300 million would pay for a covered stadium, the expansion fee and start-up costs. He would kick in an additional $50 million for working capital to cover the first few years of operations.??
Ader said he would provide part of the funding, and add it to money from limited partners and Asian investors. Ader also would also seek some level of public concessions from the city to build the stadium. “We would be looking for a tax concession. The question is how much? It would need a subsidy,” Ader said.??
While many of the details are yet unknown, one thing is for sure, said Mayor Carolyn Goodman: ”We have known for years that the world sport is soccer.”??
Findlay’s proposal will go before Las Vegas City Council on August 20.
