Soccer Stadium in Minneapolis (cancelled)

[grant1simons2]

I've been spending the past 20 minutes trying to figure this out. It's going to be tough to restructure and would cost a lot of money. But it's in desperate need

[Didier]

Regarding the stadium itself, I realize that the property they have under contract is the one they have under contract, but in a perfect world I'd prefer the stadium pushed up against the freeway viaduct, to act as a buffer to the rest of the burgeoning neighborhood. How the hell is anything of value going to get built in the shadows between the viaduct and the stadium?

100 percent. Any idea what's in those buildings now?

[RailBaronYarr]

What if the Farmer's Market site & stadium land swapped, with the new FM location integrating with an indoor market of sorts for the winter? It would be directly adjacent to the LRT station, closer to bus connections, and along several streets that actually connect to downtown (which could be made less hostile with redevelopment). I agree a more central location is probably better, but the sites that jump to mind (Armory, Postal Service building, etc) aren't really a ton better than the current area with redevelopment. I dunno.

[Nathan]

I know in the small neighborhood plan for the farmers market area they always put office or parking against the viaduct.

[talindsay]

Yeah, I could see that space as good for Class B office.

[Nathan]

It seems IMS does alright.

[talindsay]

Well, at least according to this opinion piece in the Strib the stadium will be privately financed:

Many readers are groaning about subsiding another stadium effort. Having talked with people behind this push for nearly a year, the ownership group knows what its getting into here. They will have to pay for the stadium. They might need help with land acquisition or infrastructure, but I was told they were prepared to pay up. And I don't think this day happens unless they are at the point where they can execute the deal.

[acs]

I'm as pro-development as anyone on this board but even I can't stomach picking up 30% of the cost of this publicly. You could have the team play in the Vikings stadium and have the city remodel the Armory into a new super farmer's market for 1/5th the cost and it would pretty much end up the same as far as the city is concerned. I used to think that the turf in the new dome would be a dealbreaker but then I learned that the entire 2015 FIFA women's world cup is being played on turf in CFL stadiums.

[Nathan]

I'm as pro-development as anyone on this board but even I can't stomach picking up 30% of the cost of this publicly. You could have the team play in the Vikings stadium and have the city remodel the Armory into a new super farmer's market for 1/5th the cost and it would pretty much end up the same as far as the city is concerned. I used to think that the turf in the new dome would be a dealbreaker but then I learned that the entire 2015 FIFA women's world cup is being played on turf in CFL stadiums.

did you not read the quote just previous to yours? That implied that they would pay for the stadium. Walmart target, everybody gets subsidy on fixing the roads and sewers and infrastructure around new development. If the stadium is 200m private development (70%) it would be totally foolish for the county/city not too help with 30% of that in infrastructure.

[twincitizen]

I agree with that generally, there's a limited role for government here (streets, transit, etc.) The biggest financial concern here is that they will want the stadium to be tax-exempt, for obvious reasons (imagine what the taxes would be like on a privately-held stadium). Any idea how that could be structured? Would Hennepin County own the land with a 99-year lease for the stadium? Would that allow for tax-exempt status?

I promise you the long-term economics do not work out for the team owners if they have to pay property taxes on the stadium itself. If they cannot arrange some kind of public-private partnership to avoid property taxes, I can't see it moving forward.

That "opportunity cost" aspect will likely be the largest financial consideration for local government, much more so than streets/sewer infrastructure.
With the LRT Station coming, what is the potential private development tax value on that parcel and surrounding parcels with no stadium? And how about with a tax-exempt stadium and surrounding development?

[VAStationDude]

Senate Majority Leader Tom Bakk reiterated his opposition to a new The MLS stadium.


https://twitter.com/patricktcondon/stat ... 71392?s=09

https://twitter.com/patricktcondon/stat ... 04928?s=09

McGuire says they haven't figured out if a public component will be necessary. What a joke of a league.

[RailBaronYarr]

https://twitter.com/TCBmag/status/580791422334443520

Not a threat, but gives a timeline for when the owners would need a clear path for a stadium figured out. Given that timeline, I can't imagine it being anything but privately financed (with perhaps a local share for infra).

I'm curious to know the history of stadiums/ballparks and property taxes. At what point did it stop cash flowing with that as a requirement (assuming they ever did)? It's a shame we'd give up such valuable land (even if bounded by freeways, the LRT stop will drive development of some sort here) for free.

[HiawathaGuy]

Not much new, but thought I'd add it to the thread. Interesting reads.

Finance & Commerce article (unlocked)
Soccer group hopes to finalize stadium plans by July 1
http://finance-commerce.com/2015/03/soc ... z3VQZcGlSG

Saddest part, their map calls out the Northstar Light Rail...

Business Journal article
Now comes the hard part for Minnesota United
http://www.bizjournals.com/twincities/b ... l?page=all

[uncle phil]

the entire 2015 FIFA women's world cup is being played on turf in CFL stadiums.

Yes, which is why all the women's players were protesting and threatening legal action. They want to play on grass.

[mullen]

Senate Majority Leader Tom Bakk reiterated his opposition to a new The MLS stadium.


https://twitter.com/patricktcondon/stat ... 71392?s=09

https://twitter.com/patricktcondon/stat ... 04928?s=09

McGuire says they haven't figured out if a public component will be necessary. What a joke of a league.

that joke of a league is being begged to expand to city after city. they have a new tv contract with espn/fox. it's the most popular sport in the world. yea, really a joke isnt it.

you dont like soccer, we get it

[Didier]

McGuire was on Reusse tonight, and the stadium is either much less prepared than we assumed or they're really doubling down on the ultra-secretive approach.

[Snelbian]

Senate Majority Leader Tom Bakk reiterated his opposition to a new The MLS stadium.


https://twitter.com/patricktcondon/stat ... 71392?s=09

https://twitter.com/patricktcondon/stat ... 04928?s=09

McGuire says they haven't figured out if a public component will be necessary. What a joke of a league.

Yeah, I'm with mullen - I don't see where the "joke of a league" thing comes in. Are they a joke because a politician doesn't want a stadium? What's the connection there other than "soccer is stupid"?

[mplsjaromir]

I think one can find faults with the MLS and still enjoy soccer as a sport.

The MLS is obsessed with superficially mimicking European power teams (Real, FC, United, Sporting) it shows weakness and it's unimaginative. Others have pointed out how the league uses those names without much consideration to their original connotation. They are touting the Minnesota team as being promoted, but team is being promoted for business reasons not for on-field performance. To be sure whatever the MLS does in regards to club position is not akin to the promotion-relegation system prevalent in Europe.

What was bush league about today were the statements made by the MLS commissioner, shortly after hyping the arrival of a new MLS team, within hours, already threatened the team could move somewhere else if a suitable stadium solution wasn't found. Probably the quickest a team has ever tried to hold a city hostage with their demands.

My concern is that the MLS does not have a clear path forward. I find it great that they are finding success with a new TV contract - $90 million a year. For perspective the NHL receives about $200 million per year for its TV deal. MLB $700 million per year, the NBA $2,660 million per year and the NFL $3,000 million. That is not much money for player's salaries in a rapidly expanding league. After years of being mired in financial difficulties they have found a way to stay solvent, pay your players very little. The league is not strong enough to have free agency, a bit of joke if you ask me. A player who wants to negotiate in the MLS cannot even negotiate between teams to get a better deal, all the teams collude to depress player salaries, more accurately the teams are legally one entity. If soccer is about to take off in this country like some have been saying for 50 years, the MLS will not be able to retain talent.

EPL, Bundesliga, La Liga, Serie A, hell even MX Liga are great soccer leagues that offer real competition between teams. The MLS on the otherhand it a contrived poser, American soccer fans deserve better.

[Tyler]

Or MLS is an improving, evolving, and expanding league. It's a league that remembers the excess of the NASL and has taken the conservative approach to growth and relevance. And in doing so its currently a league where billionaires are fighting for the right to pay $100 million expansion fees. I don't really understand how you can look at what has happened the last 10 years and see no "clear path forward."

[Didier]

It worked out really well when MLS tried to Americanize soccer by using a downward-counting clock, a regular-season shootout (hockey style, no less) and giving teams names like Dallas Burn, Kansas City Wizards and San Jose Clash.

Or wait.