Las Vegas makes splashy entrance, but Minneapolis still favored in MLS expansion race
Las Vegas chucked its hat into the MLS expansion ring last week with a plan befitting the glitz and the glamor of its status as an entertainment hub.
Findlay Sports and Entertainment and the Cordish Companies outlined a $300 million proposal to build a 24,000-seat venue in Symphony Park last Wednesday. Cordish is currently under contract with the city of Las Vegas to develop the site, though it is seeking an extension to pursue the prospect of bringing a MLS team to the city, according to the Las Vegas Sun.
This isn’t the first proposed public-private project for this 61-acre tract west of downtown – AEG and MGM Resorts essentially ended any furtive plans for an indoor arena at this location when they broke ground on a new, 20,000-seat venue on the Strip earlier this month – or the first time investors have declared a plan to bring MLS to the city. This partnership – a combination of a wealthy local family with significant ties to the community through its string of car dealerships and a national real estate development company – and the recently released rendering breathe new life into the pursuit, though.
“It will be a race to see who can put the best package together,” Findlay Sports and Entertainment managing partner Justin Findlay told the Sun. “A lot of people are vying for the last spot.”
Findlay pegged the race for the 24th berth in MLS just about right: the final verdict in this expansion race will hinge on the ability of markets to present a cohesive and well-funded plan for the future.
Part of the prudence stems from the hurdles encountered elsewhere. MLS finds itself in the mire with New York City F.C. and Miami at this point. NYCFC will play at Yankee Stadium for the foreseeable future until Manchester City and New York Yankees executives can identify a suitable stadium location and shepherd a stadium plan through the political minefield. Miami faces similar problems with David Beckham and his advisers still meandering through a political thicket in south Florida with the prospect of a referendum now in sight for the newly identified site next to AmericanAirlines Arena.
The hindrances to those stadium efforts – and Miami must build a stadium in order to receive approval as the 23rd franchise – reinforce the need to stitch together all of the necessary pieces before awarding the next franchise to Austin, Las Vegas, Minneapolis, Sacramento, San Diego or any other market. The winner of this fight needs to have a stadium plan in place and an investor willing to expend the necessary capital to operate a team.
Those factors point to Minneapolis as the heavy favorite at this point. There are two potential investor groups – one backed by Vikings owner Zygi Wilf and the other spearheaded by Minnesota United FC owner and former UnitedHealth Group CEO Bill Maguire – involved in that city. Both interested parties possess the financial resources to swing a potential deal. Wilf and the Vikings already have a $900 million stadium poised to open in time for the 2016 season, while McGuire could weigh the possibility of a downtown venue near Target Field if a mooted partnership with the Minnesota Twins eventually comes to fruition.
There are other components in Minneapolis’ favor, too. It boasts the largest television market (15th largest in the country with 1.7 million television homes in the Designated Market Area, according to Nielsen) among the oft-discussed candidates. It fills the need for another Midwest outpost to add more diversity to the current slate of teams. And the market itself fits neatly into the league given the success of the sport in region over the years.
MLS, however, remains pragmatic enough to keep its options open until the last moment. The next expansion city is the final salvo before the league takes a breath and assesses its options for the future. It is a decision the league cannot afford to risk or rush. And that diligence ensures plenty of time for Las Vegas or any other city to attempt to close the gap on Minneapolis and try to state a conclusive case to bring MLS to town at some point later this decade.
