Question: I know most MLS teams and owners are in control of their stadiums but I don’t think each clubs owns their own park. I'm curious to know if there is a list of which teams own their parks and how much the stadiums are worth in today's markets?
It is really going to be hard to determine the worth of the stadiums. They are only going to sell as part of purchasing the team.
Exactly. They would have to figure into the selling price if a team were to be sold. I mean I doubt a potential owner would buy an existing team without the stadium if it already belongs to the club. I am just trying to figure out the appreciation and what the going rates of the existing stadiums are.
Commercial property does not appreciate in value like a residential home. It depreciates typically over 20 years. So a $300M stadium is only “worth” a fraction of that 10 years down the road. It’s all about taxes versus control. If I have a lease says that I control everything and keep all profits, why would I need to own it too? Pass ownership on to some public entity and make it tax exempt.
While that's true the land it sits on appreciates. For instance while the brick and mortar PayPal Park is probably worth very little, the 66 acres Fisher bought could be worth 2 or 3 times what he paid for it.
I think PayPal Park must be worth at least three times more today than it did in 2015. That entire area where FMC was located on Coleman Ave adjacent to the SJC runway was a horrible looking place a decade ago. Even though the club sucks, with the stadium, new office buildings, training fields and other upgrades they have made, I don't see how it could have depreciated or gone down in value. The way things go up in San Jose and/or Silicon Valley, I can’t ever remember commercial or residential real estate prices in the area dropping that much. Even when they did in 2008, they when right back up a year or two later.
Based off of SJ land valuations it's probably worth $270 to $300M. It was valued at $131M before the banking crisis and they acquired the full 66 acres for $98M.
Why would Fisher sell all of the adjacent development with the team and stadium? Wouldn't it make more sense to rid himself of the Quakes and keep the money making real estate?
Although most of us Quakes fans wish he would sell the club, and everything else for that matter, sadly, it doesn’t look like he will be selling anything anytime soon. I’m just trying to figure out how much the stadium and office space he owns is now worth. Maybe when he finally moves the Oakland A’s to Las Vegas, he could change his mind but unless there is some kind of market crash or MLS collapse, I think we are stuck with him.
I know I'm a little late to this but I was at the game that day and 1. I hate that I was in the same stadium as Ron Desantis 2. I voted in favor of the new stadium when we had the referendum but I am opposed to this grant. This should be completely privately funded and now Billy Corben (local film maker and social critic) gets to call Beckham and Mas liars and he's not wrong. 3. Stadium is very slow moving. The construction has started but it's moving at a snails pace. It will be a very nice stadium and Miami residents will no longer have to drive an hour to get to games.
The grant is for a road, which among other things, will improve access to the stadium. Florida Statute 288.101 created the Job Growth Grant Fund for the governor to spend on state infrastructure and it looks like he's been looking for places to spend it. You should apply for a grant. https://floridacommerce.my.site.com...302&startURL=/StrategicBusinessDevelopment/s/
Update about Miami's new stadium...looks like they're targeting a 2026 opening: We’re Coming Home: Inter Miami to Play in Miami in 2026 | Inter Miami CF
The week after the WC final should l would be perfect, though 2026 seems optimistic to me. How are the unions in Miami?
Well since the owners are a construction empire they should have little to worry about. https://en.m.wikipedia.org/wiki/MasTec
Good to have news out of Miami. So, 2026: Freedom Park for Miami 2027: NYCFC move out of Yankee Stadium Too bad about NE, but I still think there is real movement there. The Revs and Fire having places of their own would really be fantastic. MLS 1.0 would all be in SSS and grass.
Nice upgrade but they are putting buildings in the east and west parking lots so tailgating will be affected. Some one jokingly said we would tailgate on the roof or top floor of the new parking garage. Should put FCD in the mix for more national team stuff as Austin is getting all of the Texas games now. Does this pressure other 2.0 stadiums to upgrade ie Colorado, Houston etc?