FIFA World Cup Tickets: New York City FC Leader and CEO Brad Sims meetings about the new arena, why the insignia update was publicized earlier this month, and how the group will evolve amid now and the FIFA World Cup. Yesterday, associates of the media stayed at the Stadium Involvement Center, an immersive exhibit of the yet-to-be-named arena that New York City FC is supposed to open at Willets Point in 2027.
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Afterwards the exhibition, Premier and CEO Brad Sims sat unhappily for a negotiation debate at the Football World Cup head office in Midtown Manhattan. It was the third time this term that Sims was made available to the television, and while the arena was the reason for the chat, he replied to questions on a variety of themes. Late September was the board for getting the land let from the city.
Technically, after that happens, you can disrupt the ground. So we’re still assertive for the end of September for that. We’re still working carefully with the city and, with any luck, it will be then or soon afterward. We’re previously doing pre-construction work, test piles, and belongings of that nature, previously trendy on-site right now.
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The actual ground contravention that you will join will be mostly ceremonial, right? But yeah, we’ll be off to the competitions as soon as that happens. So, with any luck, here in the next few weeks. Well, first of all, I couldn’t be more excited that Marcelo is connexion the World Cup 2026. He’s been in the domestic, in the City Football Group domestic for several years, a part proprietor of Girona, our team in La Liga.
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He brought them into the mix as a City Football World Cup Group spouse club a few years back. He’s also not new-fangled to the MLS, a co-founder of Inter Miami. So he’s very fervent. He loves the sport, loves the association, is very bullish on the association, loves New York City, and has made New York City his enduring residence.
So it was a matter of him pending in and saying Hey I want to be a share of this, you know, I’m going to be alive in New York. I love the sport. I love where we’re successful. Couldn’t be more muscular on this. Like How can I get complicated in New York City FC?” So that’s actually how it ensued.
New York City FC’s Arena Developments and FIFA 2026 Vision
which we had zero strategies to do. I don’t think there’s a more faultless time for somebody to get complicated with this FIFA 2026 when you think of where the diversion is going, and where this market’s going with the arena. If he was able to get in, faultless time for him to get.
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Then for us, going onward, what does that nasty for him? He’s going to want to make this thing fruitful, right? To remark on the Yankees. So, the Yankees stake isn’t strictly reduced. They had 20% of the club and 0% of the arena. Depending on what books you read, and I won’t remark on those, roughly some valuations of the team and some forecasts of how much the stadium is going to cost are attractive close to the same quantity.
So it’s not a thinning from that position, we kind of re-capped and transported in a holding company over the top. We went from being one business in New York City FC, to now, we have a business in New York City FC, we have a company that’s the stadium business, and then we have a holding business that’s over the top of those two businesses.
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And so the Yankees and Marcelo own both about 10% of those, and then City Football Group is about 80%. They had no share of the arena, so it’s not reducing. We could have just gone finished life and not created a holding business and said, I got a team business and stadium business and the Yankees own 20% of this and 0% of that.
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There are a lot of tests with doing that, counting where you classify certain incomes, certain expenses. If you don’t have an arrangement between the two groups, it’s suboptimal. So somewhat like stadium identification rights revenue, which is important. Does 100% of that go near the stadium? Does 80% go towards the stadium? It’s a stadium advantage, but if there was no New York City FC playing in the arena, how much would stadium identification rights be worth?
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Insignia Update: A Strategic Move for New York City FC’s Future
Essentially, since the valuations were where they were, 20% of what was the team business vs 10% of what is this holding business are equal stakes. He wants to win on the commercial side, he wants to win off the pitch. I forestall that he’s going to be a great reserve for us.
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I mean, he brought visitors to the game on Saturday and he was previously trying to sell them suites for the new arena, like, right in front of me. I think he’s going to be a countless resource for us. He has a lot of other commercial interests. So, remains to be understood, so new, how it’s all going to work together.
But I’m in pretty regular messages with him, and I would forestall that we would be going forward because we want a similar thing, we want to grow this object to be the best that it can be and grow the occupational to be huge and have a positive stadium initial and win some extra trophies. So he’s going to be a great total for us for sure.
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