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Conventions, Sports & Leisure (CSL) released a new market analysis assessing the viability of the Sacramento market as home to a Major League Soccer (MLS) team.
"Our analysis confirms that Sacramento is absolutely a viable MLS market," said Bill Rhoda, Principal for CSL. "Several markets comparable to Sacramento are among the league's most successful and dominant cities. Moreover, the incredibly strong performance of Republic FC at the USL-level in terms of season tickets, corporate partnerships and overall sales bodes well for the transition to MLS. If Republic FC can continue to build on this success, deliver a world-class MLS stadium, and capitalize on the region's overall positive economic growth trends, I have every confidence that Sacramento can compete with the very best markets in the league."
The report was unveiled at an event co-hosted by the Greater Sacramento Area Economic Council (Greater Sacramento) before an audience of leading business and civic leaders from across the region. Greater Sacramento is a regional organization founded by CEOs and led through public-private partnership to retain, establish, and grow sustainable businesses throughout the six-county Sacramento region.
"The implications of an MLS team and stadium in the Sacramento region are huge," stated Greater Sacramento President & CEO Barry Broome. "We have almost $4 billion invested in urban core development that is revitalizing our downtown and growing our already strong millennial population, which makes up 42.5 percent of our 1.6 million workforce. With a diverse population that is younger than major markets including San Francisco, San Jose, and Seattle and a proven passion for the sport, the Sacramento region will be a great fit for MLS."
Key highlights from the report include:
Sacramento's market characteristics (e.g. population, income, spending, etc.) are comparable to several successful MLS cities, including Portland, Salt Lake City, Kansas City and Orlando
Traditional market assessment metrics place Sacramento at or near medians among current MLS cities
However, several specific competitive advantages strengthen Sacramento's case for MLS:
Strong sales performance of Republic FC at the USL-level as measured in season tickets, sponsorships, and other major revenue categories
Limited competition from only one other major league sports franchise (Sacramento Kings, NBA)
Historically strong fan intensity and sports spending across sports and eras
Viable proposal for state of the art downtown MLS-level stadium
Positive demographic trends showing an emerging population of young and diverse residents
Strong economic trends for both downtown Sacramento and region as a whole
The report also calls out the need for Republic FC to ensure strong performance in terms of premium ticket sales and corporate partnership given the comparatively lower number of large companies and high-income households relative to MLS benchmarks.
Today's event represents another milestone in 'Operation Turnkey,' an initiative launched by Sacramento Mayor Kevin Johnson, SSEH Managing Partner Kevin Nagle, and Republic FC President Warren Smith in spring 2015 to strengthen Sacramento's bid for an MLS expansion team. Plans for a new, privately financed stadium are on track, pending an MLS expansion award to Sacramento, with the facility ready to open as soon as the 2018 MLS season.
New Analysis Assesses Sacramento's Market Viability for Major League Soccer
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