True. Technically, our campaign as @MLSinAustin started years before MLS2ATX officially kicked-off. If anything, they joined in our support. 😁— Austin Anthem (@AustinAnthem) December 3, 2018
As was mentioned in the article the political connections/deal were made by Tavo who then brought the deal to Epstein who had the land and access to capital. The state subsidy of around $25m/year for 10 years that he brought was really an accomplishment. This is supposed to be somewhat offset by additional room taxes, rental car fees etc. As the article said they structured the deal poorly and eventually Epstein then squeezed out the originator (common PE story) and then went forward with the deal. They ran into financial troubles and raised limited partner money to go forward. The economics of the deal are apparently still under stress (missed projections, cap calls etc) as I have heard through a friend of one of the limiteds. No doubt the F1 (been a couple of times) and now Indy are assets to the community but the economics are underpinned by the subsidy. Which only goes a few more years. Then we will see what political connections he has at the state level. It was never projected to continue ad infinitum and times have definitely changed since then that will be an interesting discussion. No doubt he was blindsided by the MLS on the new team expansion probably right after they cashed his franchise fee. But instead of biting his tongue and trying to capitalize on the expanded offering he trying to derail it. But that comes at a cost in alienating a big portion of his potential fans thereby making that investment even riskier. Especially since its such a hypocritical complaint as COTA is all about sucking the government teat. Whether Epstein or Precourt is a better businessman is a waste of all of our time. Austin had no choice in the ownership. Hopefully he flips it or get squeezed out to someone on Blank/Haslam wealth meter but all Austin fans can do is get in the back seat and ride.
Once the terms sheet is signed then it will probably be done rather quickly. My guess is in the next week or two.
Posted on the Crew website (columbuscrewsc.com) “First, I want to thank Mr. Precourt for entrusting me to build and lead a competitive team in Columbus,” said Gregg Berhalter. “He provided the resources necessary to assemble a strong technical department and develop our style of play over the past five years. This opportunity with U.S. Soccer is not possible without the support he provided in Columbus and I will continue to cherish our relationship.”
I doubt it will be that soon. My guess is that when stadium construction begins, Garber will be there to make it official with one of those chrome or gold plated shovels. But Chase won't release the funds for construction until various other steps are completed. The lease for the land is just one of those. He'll need a stadium design and general and sub contractors acceptable to JPM. And he'll need various permits too before breaking ground. Haslam/Edwards are expected to close their deal this week for the Crew so at the next BoG meeting they'll be approved and that's when Precourt will probably get the approval for Austin as a market and McKalla as the stadium site. MLS may require him to come up with some number of sponsorship dollars or season ticket deposits as an additional requirement.
"MLS is going to make Austin prove it even though they are more advanced in all of the above, however, Columbus won't have to deal with any of that". You chat a LOT.
Stop with the season ticket bullshit. It is textbook trolling. If I see it again, you will be banned.
Do you want me to forward you the email? It's completely relevant and interesting to everyone what Austin FC's response to ticket inquiries are and I was giving the most up-to-date information.
No, it's not trolling. The reason Columbus has a team is because we had the most people sign up for season tickets back in 94 or 95. MLS has various market requirements and one of those is attendance. There needs to be some evidence of local interest. That's not to say Austin fails in that regard but why do you think PSV relied on an obviously skewed survey rather than actual commitments to buy when the team starts play?
No, Columbus will have to jump through the same hoops for our new stadium. Difference is that we already have one in the meantime.
On the parking front the building out of this hike and bike trail should help. http://austintexas.gov/redlinetrail If Austin FC could cut a deal with IBM thats a ton of parking within a mile.
IBM is currently moving out of that building and consolidating over into a building on the other end of the Domain. The current IBM building is being transitioned into "Domain 2.1" at this point. "Broadmoore Campus". Going to become mixed use, shops and eats low, work and homes high. Typical Austin development lmao. However, at least the train will have a stop right in the middle. Red - Current IBM future Broadmoore Green - New IBM site Blue - McKalla Place
Agreed. Scootie seemed to think that signing the lease is the only thing holding MLS back from announcing Austin. But there are some other ducks which must be lined up for the stadium to be a done deal.
Well, to be fair, I agree with Scootie. I think once the lease is signed, it will be 7-14 days after that and we'll see MLS announce officially.
Oh. Part time resident goof. Well with 6m! sf of office/retail/apartments they will be adding a bunch of parking to the area which has got to be a positive.
I’d take that wager. Lease is supposed to be signed by 12/12? Is that right? So you’re saying the MLS announcement would be 12/19-12/26? Let’s call it 12/31 due to holidays. I don’t see that happening.
Exactly. We know (from PSV's own mouths) that they need significant committed sponsorship dollars (I'd have to go back look up how much Loughne spouted) in order to obtain financing from bank. It was way more than just naming rights. So in order to get shovels in the ground, they would have to announce (at least to bank) a truck load of long term sponsor commitments. So even if/when they announce lease is finalized, there are a ton of stars that need to align before any construction starts.