Las Vegas City Council To Vote On Revised Soccer Stadium Plan

The Las Vegas City Council today is scheduled to vote on plans to build a new downtown soccer stadium, critical to the plans of its private developers who hope to bring the next MLS expansion franchise to the city. According to the revised term sheet, private developers Findlay Sports & Entertainment and The Cordish Companies would invest $143.5M of the projected $200M cost to build the stadium.

The venue would be privately owned, managed and operated, while the city could use the venue for community events. The city estimates its debt for the project would be $25M, with a total investment of $56.5M. Previous proposals had the city providing much more significant financing. The project will not be developed further if MLS does not choose Las Vegas for expansion. The city council notes the private developers would also be solely responsible for the "estimated $102 million franchise fee."