Report: Las Vegas City Council sets Sept. 1 deadline for financial plan for MLS venue
The Las Vegas City Council has asked investors hoping to bring a Major League Soccer team to Las Vegas to submit a financial plan by Sept. 1 for their proposed stadium, the Las Vegas Sun reported on Wednesday.
The 6-1 vote also added Findlay Sports and Entertainment to the commission given to The Cordish Companies to bring a professional sports franchise to Las Vegas, a contract that has been in place since 2008, the report said.
The request for a financial plan seems to be intended to inform the council of what costs the public might incur. Las Vegas director of Economic and Urban Development Bill Arent estimated the cost of the stadium at $200 million.
Findlay Sports managing partner Justin Findlay and Cordish Companies vice president Blake Cordish recently met with MLS officials and told the Las Vegas City Council that the league is interested in placing a team there. The groups announced on May 14 their intention to build a soccer stadium in the Symphony Park mixed-use development area in downtown Las Vegas.
With Commissioner Don Garber stating publicly that MLS intends to expand to 24 teams, the total will hit 21 in 2015 with two teams joining the league, New York City FC and Orlando City, while Atlanta was recently awarded an expansion club for 2017.
An investment group headed by David Beckham, which unveiled potential plans of their own on Thursday, are seeking to become the MLS' 23rd team.