Sounds like it
City Football Group - Financials & Acquisitions
- Thread starter LionNYC
- Start date
Sounds like it
Yes, this is correct.
*jazz hands* no legends concessions for lay people in the stands! Hopefully this means even more home games in Citi next year and beyond. As a Vegetarian, there are next to zero meal items I can eat at Yankee so this comes as wonderful news!
Edit: oh Yankees still have 10%… damn…
Edit: oh Yankees still have 10%… damn…
ZYanksRule
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Juan Soto. I hope.
why was he bought out of Miami ?
Ten percent to go ...
The article puts the valuation of our club at $1.5B...which would top the Forbes list from 2024 from LAFC at $1.2B
www.sportico.com
Billionaire Marcelo Claure Buys 10% of NYCFC, Stadium at $1.5B Valuation
Marcelo Claure has purchased 10% of MLS club NYCFC and its stadium, in a deal that gives the combined entity a roughly $1.5 billion valuation.
www.sportico.com
My guess is that the Club's owners were required to contribute funds to pay for the stadium project, and the Yankees either couldn't or wouldn't invest more. So, the cash comes from Mr. Claure, and the Yankees transfer to him a portion of their ownership.
Just a guess, but seems highly plausible.
Just a guess, but seems highly plausible.
I am guessing the same. NYCFC can't break ground until they have the lease and they can't secure the lease until they have the financing for the stadium secured.
Our primary owner is Sheikh Mansour. How could we not have the financing secured? He sneezes more money than I will make in my lifetime.
ZYanksRule
Registered
I think what Soup is saying is that, theoretically, if the Yankees owned 20% of the Club, they were up for 20% of the stadium costs. If they didn't want to invest that money, then that's why they sold half their percentage.
Not just that, but I also don't know how much cash Sheikh has on hand or how much of his net worth is tied up in other assets.
He probably has a lot, I just don't know for certain it's significantly greater than $800m that he can just part with $800m of cash in one fell swoop.
wow they didn't contribute any money? what kind of owner is that? very weird.
I would guess it means they only have team ownership and they do not get any share of the stadium ownership.
The kind that is happy to own a smaller share rather than make an added capital outlay. This is perfectly normal.
