Whitecaps MLS news

[madog222]

Originally Posted by logan5

I was surprised no one asked about the possibility of residential towers, though they did say entertainment district, which usually comes with residential towers.

It's a public park held in trust, not a downtown city block. Residential isn't at all likely to be a part of this.

[logan5]

Originally Posted by madog222

It's a public park held in trust, not a downtown city block. Residential isn't a all likely to be a part of this.

So probly no hotel and casino then?

Garber (MLS commissioner) did mention residential with the potential new stadium, so I have to think that's part of the package.

...and we want to earn it by having the opportunity, potentially, to develop a project that will be one of the great showcases for public-private partnership with sports and entertainment and real estate, meaning residential,” he said.

[jollyburger]

Originally Posted by logan5

So probly no hotel and casino then?

Garber (MLS commissioner) did mention residential with the potential new stadium, so I have to think that's part of the package.

He was talking about a BC Place redevelopment in that quote.

“We’re not asking for gifts. We’re asking for the right to earn it. We want to earn it by maximizing the value in BC Place, and we want to earn it by having the opportunity, potentially, to develop a project that will be one of the great showcases for public-private partnership with sports and entertainment and real estate, meaning residential,” he said.

“If we could achieve that, the Whitecaps will become embedded in the community way beyond what it is that they do on the field each weekend.”

https://www.biv.com/news/real-estate/lea...ps-bc-place-at-impasse-mls-boss-11463132

If the Squamish Nation are keeping the casino revenue the only way a hotel makes any sense is if they somehow incorporate the two since a hotel at the PNE doesn't probably rate high compared to downtown/Broadway.

[mcj]

Originally Posted by logan5

So probly no hotel and casino then?

Didn't the local FNs acquire the gaming license? A hotel and casino would make sense here, fits in well. Keep the Residential on the other sides of Renfrew/Cassiar/Hastings.

This will be an election issue, what happens will depend on the next council.

[logan5]

Originally Posted by jollyburger

He was talking about a BC Place redevelopment in that quote.

He was referring to the Whitecaps getting more concession revenue from BC Place, then he pivoted to a new stadium. That's what it looks like to me anyways. Pretty sure he knows BC Place can't be redeveloped.

[officedweller]

Originally Posted by whatnext

Stadium owned by the city or the land owned by the city and leased to the Whitecaps for a stadium they build and finance?

Ground lease - so the City would continue to own the land and Whitecaps would build and own the stadium.

[Migrant_Coconut]

And that means no residential since the Charter and Park Board will block any kind of redevelopment that's not recreation-based. MLS might think they have license to build condos, but that's likely not the case.

[jollyburger]

Originally Posted by logan5

He was referring to the Whitecaps getting more concession revenue from BC Place, then he pivoted to a new stadium. That's what it looks like to me anyways. Pretty sure he knows BC Place can't be redeveloped.

Actually you're probably correct I misread the quote mixing maximizing the earnings at BC Place and the new stadium project.

[djmk]

I don't understand the economics of building a stadium. Why spend 100's of millions on dollars on a space that can only be used a couple dozen times a year?

And it's not like there are other possible tenants. Grass is fragile.

[jollyburger]

Originally Posted by djmk

I don't understand the economics of building a stadium. Why spend 100's of millions on dollars on a space that can only be used a couple dozen times a year?

And it's not like there are other possible tenants. Grass is fragile.

You install it on a movable base and you store it or have some kind of flooring that rolls out over the playing surface.

[djmk]

Originally Posted by jollyburger

You install it on a movable base and you store it or have some kind of flooring that rolls out over the playing surface.

ok, you just added another $100M in costs. Now what?

Can vancouver expect to fill two stadiums with events?

and this is 100% a single use depreciable asset.

[logan5]

That's why stadiums/arenas in a lot of cases, are part of a larger development that includes hotels, casino, and residential towers. Those other revenue streams make it work. That's why I'm hoping there's a residential component somehow. As a Whitecaps fan, I want the team to have the best opportunity to be a top club in North America, and maybe further down the line, a top club in the world.

Originally Posted by djmk

I don't understand the economics of building a stadium. Why spend 100's of millions on dollars on a space that can only be used a couple dozen times a year?

And it's not like there are other possible tenants. Grass is fragile.

[jollyburger]

Originally Posted by djmk

ok, you just added another $100M in costs. Now what?

Can vancouver expect to fill two stadiums with events?

and this is 100% a single use depreciable asset.

You're the one who complained about grass being fragile I just pointed out one way to make it multi-purpose.

[djmk]

Originally Posted by logan5

That's why stadiums/arenas in a lot of cases, are part of a larger development that includes hotels, casino, and residential towers. Those other revenue streams make it work. That's why I'm hoping there's a residential component somehow. As a Whitecaps fan, I want the team to have the best opportunity to be a top club in North America, and maybe further down the line, a top club in the world.

of course. I only wish the best. Whitecaps can not have a casino there and it's still a park. unless they are sold as a long term lease, I doubt residential is happening. Hotel maybe

I don't think it's unreasonable that a stadium would cost $400M. The opportunity cost/interest costs must be greater than 4%... that's $16M. I would budget more than 4% with risk

Can the whitecaps recoup the cost of the stadium plus an extra 16M a year?

edit... i can see them getting $5M a year for naming rights

[officedweller]

The thing I don't understand is how attendance will be affected by the MLS moving to a winter schedule?
Sitting in the rain watching a game may not be enticing.
You'd think that playing indoors at BC Place (abeit on a suboptimal surface) would be a positive.

From Google AI:

MLS is implementing a new summer-to-spring schedule that will include a winter break from mid-December through early February, with no games in January. This change will take effect starting with the 2027-28 season and will align with the schedules of top European leagues. Before the full schedule begins, there will be a shorter, transitional season in 2027 from February to May.

https://www.google.com/search?q=mls+wint...B8QUeyQ3HfUWpYA&sourceid=chrome&ie=UTF-8

[djmk]

Originally Posted by officedweller

The thing I don't understand is how attendance will be affected by the MLS moving to a winter schedule?
Sitting in the rain watching a game may not be enticing.
You'd think that playing indoors at BC Place (abeit on a suboptimal surface) would be a positive.

From Google AI:

https://www.google.com/search?q=mls+wint...B8QUeyQ3HfUWpYA&sourceid=chrome&ie=UTF-8

changing the calendar is about selling MLS players to Europe and not about attendance unfortunately

[jollyburger]

Originally Posted by officedweller

The thing I don't understand is how attendance will be affected by the MLS moving to a winter schedule?
Sitting in the rain watching a game may not be enticing.
You'd think that playing indoors at BC Place (abeit on a suboptimal surface) would be a positive.

One clarification. I think the MLS has stated they will limit league games in northern cities in December/February (January is a break) so I guess that would mitigate some of those issues.

[WarrenC12]

The stadium will need to have covered seating which will add to the cost.

Watching the Lions in October in BC Place is a lot better than some of the options in the rest of the country. Even then they get 1-2 cold games a year and it's a novelty with snow sometimes, etc.

Watching most of the Whitecaps season in the grey pouring rain will get old fast IMO.

[whatnext]

Moving it out of downtown is still a mistake. It's a shame. Can they give them the Larwill Park land since VAG doesn't seem likely to do anything? Is it large enough?

[Migrant_Coconut]

We're also assuming this goes anywhere, rather than just being grandstanding to get a better leg up against PavCo when they sign with BC Place again.