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An 18,000-seat soccer stadium will soon be part of downtown Orlando's landscape — home to what promises to be the city's second major-league sports franchise.
In a raucous celebration, a crowd of more than 200 people chanted, "We are going MLS!" as soon as Orange County commissioners voted 5-2 Tuesday night to pitch in $20 million in tourist taxes as the county's share of the $84 million stadium.
The stadium's approval all but guarantees that the city will win a Major League Soccer franchise — in the same year that the Orlando Magic is celebrating its 25th season.
In a raucous celebration, a crowd of more than 200 people chanted, "We are going MLS!" as soon as Orange County commissioners voted 5-2 Tuesday night to pitch in $20 million in tourist taxes as the county's share of the $84 million stadium.
The stadium's approval all but guarantees that the city will win a Major League Soccer franchise — in the same year that the Orlando Magic is celebrating its 25th season.
Really? $4600 per seat for Soccer? No freaking way! And the taxpayers get to pay for $1100 of that per seat cost. At $84 Million for 18,000 seats, the MLS team is going to have to generate $466 per seat in GROSS PROFIT per year. Operating expenses are typically 50% of revenue (the staff, utilities, and materials to hold the event). Sponsorships are sold as a major revenue source but they really only end up covering the massive marketing budgets. Food and beverage help, but only if the stadium is nearly full. Otherwise the exorbitant prices go to the vendors because they were guaranteed a certain volume in exchange for buying a large sponsorship which funds the marketing.
So for this stadium to be fiscally viable it needs to generate $8.4 Million over and above operating costs every year for the next 10 years by collecting fees from 18,000 seats which means that each seat needs to generate almost $1000 each year JUST TO PAY FOR THE STADIUM.
It'll never happen.
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