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Closing Bell

Orlando City SC Set To Announce Details Of Transition Into MLS

Orlando City SC is expected to announce tonight that it will begin MLS play in '15. MLS Commissioner Don Garber is in Orlando today for the press conference, which is open to the public and will be streamed on YouTube. The club will pay a $70M expansion fee. The majority Owner of Orlando City SC is Flavio Augusto da Silva, a 41-year-old Brazilian billionaire. Team President and minority Owner Phil Rawlins is a BOD member of EPL club Stoke City.

While the Citrus Bowl, the club’s current stadium, is being renovated, Orlando City SC will play its final season in the USL Pro league at Disney’s Wide World of Sports soccer complex. The team will eventually move into an $84M soccer stadium on city-owned land near Amway Center. With NYC FC also joining MLS in '15, the league will have 21 franchises before reaching its announced goal of 24 by '20.

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