Bronx close to scoring $400M soccer stadium for NYCFC

Thats a pretty excellent article. Lots of good information and reasonable analysis.

I wonder what the power and leverage dynamic is? Because as it stands this deal looks like crap.

 

Do the bonds or future money actually get paid in any scenarios?

 

Personally I think it's somewhat disingenuous. I had to read this article twice before I pinned down that the about-to-go-bankrupt parking management company, not the Yankees or the Sheik, is getting the entire bailout. $200 million (not in PV terms) in forgiven rent going backward and forward is bad, but it sounds like the city was about to eat the whole thing regardless, and this way they might end up with some better land use in the portion that gets repurposed. Good deal/bad deal is a fun pastime of mine, but I'm no pro and this one sounds complicated, so I'll try not to second guess the city here.

And the connection to NYCFC is tenuous. It seems that the Yankees' co-ownership is the controlling factor, and they shouldn't get a subsidy on the new stadium (amount undisclosed since this article isn't about that) because they insisted on the parking spots originally. Well, that's an interesting idea for an article, but aside from the last sentence, a different article from what I read.

Complete speculation, but I think this possible agreement hints at the city's preferred source of subsidy to NYCFC - it would be pretty natural to extend them the rent exemption in this context.

 

This was my thought, but I didn't feel like fleshing it out past a question that looking back probably left a lot open without good context.

Unrelated: obviously the parking is a Yankees issue now, but was that requirement a MLB requirement more than a Yankees prerequisite in the past?

 

What I can't get over is the $35 parking fee--- where is the business sense? are they actually surprised that the parking garage bombed? 12, 15 maybe even 20 dollars would be reasonable. I would never pay 35 in this economy. That's just giving away your money when I could find parking blocks away or simply take the the subway to the game.

 

In 1976, there was a clause in the Cosmos' lease at Yankee Stadium that allowed the city or the Yankees to order a Cosmos game postponed in wet weather. Will NYCFC face a similar problem?

 

i remember as a little kid turning around just before getting to the washington bridge on the way to a cosmos game, because phil rizzuto doing the yankee game from california announced that the soccer game had been cancelled due to the wet field.
good question about nycfc...

 

It's the Yankees. They thought the most popular baseball team (and one of the worlds most popular teams) had the clout to gouge that much out of the locals. I mean look at what ticket prices have been in the New Yankee Stadium. They were wrong and found out even the 600 lb gorilla has limits with the parking garage failure and their attendance taking a nose dive. They were the first MLB team to suffer the same problem facing many NFL teams now too. They've found the upper limit fans (even die hards) are willing to pay (though to MLB's credit at least its just their most powerful team having this problem, not half the league like the NFL). That and it's not like a lot of the Yankees fans drive to games proportionally anyway. NY has always been a public transit town. And the ones that do drive are not going to shell out 35 bucks to park in an "official" garage when there are cheaper places a few blocks further away.

 

I'd imagine so. The Yankees won't want NYCFC tearing up their pristine field.

 

From the most recent article it seems the $200M figure comes from $50M in current taxes owed by the garage company and an exemption for future taxes totaling $150M. They will pay for the stadium and land themselves.

 

you have to remember that the entire business/financial plan around the new yankee stadium was put together about five minutes before the financial bubble blew up...

 

After driving around Manhattan years ago my thought process of this city is completely different. What a zoo more importantly they need all the public transit. Probably the only city I have been to who does need it.

 

Every city needs public transit, grandpa.

 

LOL. OMG, my eyes are watering. hhahah. Fun times here at BigSoccer.

 

why deal with over expensive parking lots when theres much cheaper parking at a metro north station several miles north? drive to the station, ride to the stadium, and go back.

their astounding lack of pragmatism towards prices has been killing them of late.

they still could have caved a little... parking garage fees when that are that plentiful shouldn't be more expensive then some upper deck seats were.

they need a second venue regardless, if only to make sure theres no conflicts in october (the yankees will NOT tolerate soccer ditches in the playoffs) that might mean playing some games at the 17k columbia university stadium with a track around it, or worse... playing in New jersey!!!

the red bulls will graciously accept rent for a couple of games I'm sure.

 

Nah they need to finalize their own venue ASAP. They're already stuck in Yankee Stadium for at least a couple of seasons. That could quickly balloon to 6 years or more (as Quakes fans very well know) and unlike the Quakes who are at least stuck in a soccer stadium where they share with only other soccer tenants, the Yankees won't be quite so accommodating. Baseball players hate it when other sports foul up their fields as I've seen time and again in Oakland and San Diego. And those were small market teams where the players are often just happy to be in the league. You can bet the top dog Yankees will be even more vociferous in their objections particularly the longer NYCFC is there.

 

columbia stadium it is then, they'll be playing plenty of games at YS over the years that much is certain (especially the red bulls/ City FC games) but if the yanks will be as distraught as you say they might as well not make it their regular venue.

this is the only place actually IN the city (that the goal right?) that seems remotely suitable... and even then I'm uncertain of how well a regulation soccer pitch can fit in there (or if MLS would allow that to begin with).



we'll find out in 6 months time I'm sure. So many things about this franchise thats yet to develop... they along with my own team, potential expansion teams and Chivas struggles somehow have most of my attention lately.

 

Oh please make it so.

 

Whose official name is ironically "Robert K. Kraft Field at Lawrence A. Wien Stadium at Baker Athletics Complex". Talk about a long winded name and yes it is that Robert Kraft:

 

yeah, its why I just called columbia stadium.

 

http://www.mlssoccer.com/news/artic...-site-were-working-city-looking-several-sites

 

Sigh

 

I didn't expect anything major and they probably won't publicly comment on something concrete until it's done or just need to cross the t's and lower case j's.

Wahl thinks the training facility could be in Westchester (http://soccer.si.com/2014/01/10/kreis-new-york-city-fc-preparing-to-step-into-the-mls-spotlight/)

 

http://www.mlssoccer.com/news/artic...-site-were-working-city-looking-several-sites

After all, the New York City FC and Manchester City FC CEO (above) has spent plenty of time in the city over the past year searching for a permanent home for the league’s 20th franchise, which has already said it will spend its debut year in 2015 in a temporary venue.

Oh, don't the New York Yankee's own 25% of the team, so I'm sure it will be fine.