I've honestly assumed that this would happen since Day One.
Stadium Discussion
- Thread starter Gene
- Start date
I've honestly assumed that this would happen since Day One.
The CFG model is typically 80/20 with a local minority investor.
It really irks me when papers/people claim Manchester City and CFG are interchangeable.
I agree with that statement. But what about CFG and Abu Dhabi.
Technically, Abu Dhabi United Groups only owns 87% of CFG (13% is owned by China Media Capital/CITC Capital). So that 87% times the 80% owned of NYCFC means that Abu Dhabi owns 69.6% of NYCFC. Yankees own 20% and China owns 10.4%. Then again, these ownerships are actually just owning pieces of MLS so there are even more diluted.
When MLS gets to 28 teams, Abu Dhabi will own less than 2.5% of MLS. 87%*80%*(1/28). If the only owners of MLS are the investor-operator groups of the 28 teams.
I think that's circumstance, actually. 80-20 applied to NYCFC, Melbourne City and Yokohama for sure, but in Melbourne the minority partner sold up very rapidly - probably when CFG realised they weren't really needed for anything - and in Yokohama the 80-20 split is entirely the result of Japanese law anyhow. It could have been 5-95, 10-90 or 50-50. That said, I'm fairly sure that CFG are content to themselves be the minority partner in Japan.
I can't see 80-20 being deliberately used anywhere in future.
FWIW, Glenn Crooks just yesterday published an article where he references a 25% percentage stake by the Yankees. Not claiming this is authoritative.
http://sbisoccer.com/2017/09/patric...e-to-be-one-of-the-biggest-clubs-in-the-world
Again, one says $25mm and one says "up to $25mm" and there's no reason to believe that paying 25% of an expansion fee equates to owning 25% of the team. It almost assuredly does not.
Minor updates from a club event at the NYCFC House last night:
- in terms of timing, Patricof says it is hard because when you're seriously pursuing one site, it can seem kinda sorta imminent but if that falls through you reset back to whatever progress you've made on the next site in line. He repeated the 3 serious current sites factoid and said if all 3 fall through then things fall pretty far back. Unstated corollary is that if one of the 3 works out, it could be somewhat soon.
- he also said there is nothing for supporters to do to help until an announcement is made about a deal on a site. Once that happens the fan mobilization can come in to play to keep opposition from quashing it.
Makes sense with two of three sites we know of - we now know who will represent both on the City Council, but it is a little uncouth to just come out and start talking with them publicly until after the general election in November at the least. So we may have to wait until then.
Sure, but given the franchise fee we know, and that we won't be looking at their financials, I think it makes sense to believe what's been reported and never contradicted.
Did CFG need the Yankees for the cash or did they need an engaged local partner? If the point of their involvement was to share a home for an indeterminate amount of time and offer some expertise on a new home, it wouldn't seem to make sense to have them minimally invested in the project and the payoff.
Please use a real name and not a pronoun if you don't respond to another post. I assume "their" refers to CFG, but on this thread I'm not taking anything for granted.
To add:
JP reads the forum regularly. He doesn't have an account/avatar (or so he said - the question actually made him immediately laugh pretty hard) and he doesn't think we'd want him posting anyway. Loves the stuff we do post because we cover so much so thoroughly that it's sometimes good for members of the FO to see a bigger realm of thought if they're individually working on something very focused/singular - I took that as multiple people may be reading on a regular/semi-regular basis.
All the stories going around at the time the club was unveiled in 2013 were that CFG were leveraging the Yankees' legal and lobbying muscle in the search for a stadium. Your Mileage May Vary on how much input they've had on that and whether they are involved in anything else (besides the obvious), but such was the story.
The Forum is roughly a community of 10-15 hardcore posters and 40-50 regular posters. I guess this is the focus group of pro-NYCFC talk. Obviously all the haters don't come here, or are blocked, but the FO isn't going to market to those people since it's a lost cause. That being said, we're critical of the team at points, so it gives a good information for the FO to see opinions.
SUSHI FOR PITCHSIDE SEATS, JON PATRICOF!
And freshly made sushi, not that cold refrigerator platter we got one time that made me sick.
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You can have the pitchside sushi, I'd settle for seatside cheesesteaks in the 200-level.
