FC Cincinnati continues to work on its proposed MLS stadium, and is looking to secure a partnership to move the plan forward.
As part of its MLS expanson bid, FC Cincinnati unveiled a proposal for a new soccer-specific stadium earlier this year. The venue comes with a cost estimate of $200 million, with the organization contributing $100 million as part of a public-private partnership.
Over the last several months, there has been plenty of action among competing bids. One of the more recent developments was in Nashville, where, earlier this week, officials unveiled a proposed funding formula for a new stadium. The arrangement that was presented in Nashville is by no means final, but it marks another step for an expansion bid that has had considerable momentum over the last few months.
In light of that news, FC Cincinnati emphasizes that it continues to work on it stadium plan, and stressed the need to form a partnership. More from The Cincinnati Enquirer:
FC Cincinnati President and General Manager Jeff Berding noted in a Tuesday statement that developed stadium plans are required of all the MLS expansion candidates.
“Major League Soccer announced the application requirements last December and one of the key criteria is an approved plan for a soccer-specific stadium, along with other criteria such as a strong local ownership group and a proven market of support for professional soccer,” Berding said in the statement. “Since we submitted our initial application last January, we have worked diligently on a responsible public-private partnership plan to build an MLS stadium and that continues to be our focus. Our soccer experience here in Cincinnati offers a great deal to a growing MLS, but like the other cities who are competing to earn an invitation, we need to solidify our stadium partnership.
“Our ownership group, led by Carl H. Lindner III, has committed $250 million in private funds to bring the MLS to Cincinnati, including $100 million for a new stadium. With the private dollars serving as the foundation of our public-private partnership, we are confident that we can develop a stadium financing plan that will be viable for the MLS, just as Sacramento and it appears now Nashville have done.”
FC Cincinnati has reportedly been considering three sites for the stadium, including two in Cincinnati and one in nearby Newport, KY. There has been some discussion of building the facility in Cincinnati–though Hamilton County officials have expressed some skepticism about contributing funds–and the club has a memorandum of understanding in place for its proposed Newport site.
The club is one of 11 expansion contenders in the mix, and it is expected that MLS will announce two clubs later this year. An additional pair of bids is expected to be selected at a later time.
RELATED STORIES: FC Cincinnati Stadium Plan Discussed at Meeting; Commissioner, FC Cincinnati Split on Nippert Stadium for MLS; Port Authority Pitched FC Cincinnati Stadium Ownership; FC Cincinnati Releases Stadium Design Details