CFG buys the land, pays for the infrastructure improvements and builds a stadium on the land
Stadium Discussion
- Thread starter Gene
- Start date
CFG buys the land, pays for the infrastructure improvements and builds a stadium on the land
I don’t think anyone would complain too much about that, but I also think there’s very little chance that all three of those things would ever be on the table.
I think most teams would define self-funded as just the construction of the stadium, and maybe the purchase of the land as well.
Even Met Life Stadium, which is frequently referred to as privately financed, got hundreds of mullions of public dollars for infrastructure and development rights.
Yeah, nobody does the infrastructure improvements. That’s a city/municipality cost every time.
Etihad Pier!
gothamist.com
City Starts Construction On Long-Awaited East Midtown Greenway
The stretch along the East River from East 53rd to 61st Streets marks the largest gap in the 32-mile path known as the Manhattan Greenway.
gothamist.com
Can’t get past the $100m for 8 blocks of greenway.Etihad Pier!
City Starts Construction On Long-Awaited East Midtown Greenway
The stretch along the East River from East 53rd to 61st Streets marks the largest gap in the 32-mile path known as the Manhattan Greenway.
CFG are selling a 10% stake for 500mil to Silver Lake, due to be announced this week. According to Financial Times, some of it will be used to fund the construction of a stadium in New York.
Last edited:
This seems like the most concrete news we’ve ever had on the stadium.
is it though? all we know is they sold off some stake and got some cash.
not concrete til it's officially tied to stadium by a CFG official.
Pretty sweet valuation...
Maybe power-players in the city told them they had to self-fund with the money in escrow otherwise no agreement?
We had all this oil money, but all along we were just waiting on that sweet, sweet California-based PE
huh
Have always wondered about “oil money” from the Middle East. How liquid is it versus being tied up in stable equity that won’t fluctuate quickly or have the potential to free-fall??? Does their vast “wealth” come from the valuation that scientists/engineers put on their fossil reserves yet to be extracted, this making their energy companies insanely valuable, or do these guys have bank accounts overflowing with zeros because they’ve sold off so much to the market and have been socking it away?
Saudi Aramco is going public and I’ve assumed it’s because they want liquidity/flexibility that’s associated with cashing out.
Aramco going public so they can invest in different lines of revenue for the Kingdom.
Highly recommend the movie Syriana. Eventually, the oil runs out and the Conservatives chop your heads off otherwise.
Highly recommend the movie Syriana. Eventually, the oil runs out and the Conservatives chop your heads off otherwise.
It would be great if this 10% sale was just them selling us.
No. They are selling like 2-3% of the ownership to hopefully fund a modernization of the rest of their economy. They see the writing on the wall — it may be 25, 50 or 100 years out, but oil will eventually be obsolete. If they want to survive and thrive they need to upskill their younger generations.
They are only selling $25 billion of equity in what they believe is a company worth $1.6 to 1.7 trillion.
Now back to stadium news...
Syrians is a great work. Yeah, I know all about the fossils running out and needing to diversify (Russia is in the same boat) - hence comment about cashing out. One can’t fund what they need with private company stock transfers to contractors and suppliers and a workforce, hence the need for liquidity.
They’re also funding skirmishes in the region and again, and cash goes farther buying loyalty and proxies than a Schwab account transfer.
tech money pouring in? Time to pop that valuation and “elevate the worlds consciousness” bro
read the vanity fair article that is linked in there about the history of WeWork. Crazy, egomaniac stuff in there that has to be read to be believed.
