MLS Expansion: FC Cincinnati identifies stadium sites
- by Paul Kennedy @pkedit, May 25, 2017
FC Cincinnati president Jeff Berding confirmed the three neighborhoods at a Thursday press conference: West End, Oakley and Newport.
A key for MLS teams going forward is owning their own stadiums to control their revenue streams, which has forced FC Cincinnati to consider other options besides Nippert Stadium, the home of the University of Cincinnati's football team. Berding said a soccer-specific stadium is necessary to win one of the four MLS bids.
Bending said on Thursday FC Cincinnati is seeking "a little help" in a public-private partnership to finance the cost of the stadium, which is on top of the expansion fee of $150 million. Opposition to public support puts FC Cincinnati in a bid.
The NFL Bengals' Paul Brown Stadium was heavily subsidized with public money, making it one of the worst public financing deals ever for the construction of a sports facility. Hamilton County is also still paying off Great American Ball Park, home of the baseball Reds.
I have passed through that area on my way to Academy/NEPAL showcases and I believe I have another visit coming up in June.. the city is nice but it's in need of something as everyone looks bored to death. However government should not be spending tax payers money on these project that serves no use to the general public. Most of the time muni bond are issued and interest paid out for ever and ever. Why can this not be finance through capital investments firms like Goldman Sachs with some city incentives like tax cuts to offset cost ?
Paul K, "in a bid" or "in a bind"?