- Posted by Drew Epperley
- On May 21, 2013
- 0 Comments
- MLS Expansion, Orlando Expansion
The failure to get money from the State of Florida left the Orlando City group looking for another option to fund their stadium construction. Things are moving forward however now in Orlando as the group has put together a new plan to help fund their stadium.
Reports from the Scoring Third this morning suggest that the stadium project will now cost slightly less than what the group had originally estimated.
Again, though not official, the new total for stadium construction/land costs is rumored to be $95M; down from previous estimates of $105M-$110M. Additionally, the cost breakdown would see an adjustment to the team’s contribution as follows:
$50M – Cash from Orlando City Soccer Club
$20M – Land/Cash from City of Orlando
$25M – Cash from Hotel Taxes from Orange County
The Scoring Third also mentioned that the Orlando group was in New York on Monday meeting with Major League Soccer, including MLS commissioner Don Garber.
Things are still progressing for Orlando after the bill failure in the Florida House of Representatives. Local officials in Orlando are also said to be pleased with the new funding plan for the stadium as well.
It isn’t major progress in some ways like what one would have expected to see had the bill passed through the House in Florida a few weeks back. That delayed a slew of things from what I am told, including design renderings and more.