Orlando Group Raises $1.5B for MLB Team Bid, Sets Sights on Rays

A powerful group of investors has secured $1.5 billion to bring baseball to Central Florida. The Orlando Dreamers announced their financial backing through investor commitments on Thursday, April 24.

"We are extremely pleased with the recent rapid progress in financing interest towards prospective MLB team acquisition," said MLB Hall of Famer Barry Larkin to The Orlando Sentinel.

Plans call for a $1.7 billion covered stadium near SeaWorld Orlando. The massive sports complex would seat 45,000 fans on a 35.5-acre plot next to Aquatica water park on International Drive.

"We feel the heavy lifting part of team acquisition financing and stadium financing has been accomplished," said group co-founder Jim Schnorf to Click Orlando. A silent partner has pledged $1 billion for construction.

MLB Commissioner Rob Manfred stands firm on his position. "I remain of the view that there is an outcome that keeps baseball in Tampa Bay," Manfred said to The Tampa Bay Times.

Last month's collapse of a $1.3 billion St. Petersburg stadium deal caught the eye of potential buyers. The Rays' exit opened new doors.

Florida Governor Ron DeSantis met with MLB brass about maintaining two teams in Florida. "There's no way they want to leave Florida," DeSantis said to The Orlando Sentinel.

A mystery backer from Orlando joined forces with the Dreamers in March. This key player stands ready to buy into MLB ownership. Their name stays secret until plans take shape.

Building the stadium depends on teaming up with Orange County officials. The group seeks Tourist Development Tax funds to support building costs.

Soon, the Dreamers will move from Maitland to Orlando's heart. Their team grows as the project picks up speed.