A new report from the Orlando Business Journal (OBJ) reveals that the Orlando Dreamers are making significant efforts to lead Major League Baseball (MLB) to Central Florida by securing “submitting a letter of interest” for senior debt financing from several large financial institutions. The exact amount has not been disclosed, but the new funding will increase the group’s total to nearly $2 billion. This is good for getting a franchise through relocation or league expansion.
The ownership group is led by John Morgan, co-owner of MORGAN & MORGAN LAW FUIME, co-founder/COO Jim Schnorf, and MLB ambassadors Cincinnati Reds Legend, Cincinnati Reds Legend and Barry Larkin. Workman called the team’s senior debt commitment to funding the acquisition “key final piece.” At the same time, Larkin highlighted it as further evidence of the preparation of the group to welcome the MLB franchise.
Dreamers proposed building a 45,000-seat dome stadium on 35 acres near SeaWorld, near Orange County Convention Center. The venue also includes a baseball memorial museum and concert space. Morgan says the design will rank among all the top five parks in the league. In July, the group signed a three-year lease for office spaces in downtown Orlando and plans to expand its staff to support the community outreach initiative.
As the Dreamers move towards securing their team, the Tampa Bay Rays continue to explore options for long-term stadium solutions. Rays’ current leases at Tropicana Field in St. Petersburg expire after the 2027 season, with team officials evaluating alternatives on both sides of Tampa Bay. The discussion includes potential new ballparks in St. Petersburg’s redeveloped gas factory district and possible locations in the city of Yber, Tampa, but no final agreement has been made.
The uncertainty surrounding the Rays’ stadium plans led to speculation about the team’s future in the region. While Rays’ leadership has expressed his desire to remain in the Tampa Bay Area, the delay in establishing a decisive agreement has opened the door for relocation debate. This situation makes bids that are rich in Orlando’s funded and likely to be built soon more important in MLB’s long-term planning.
On side-by-side comparisons, the funding momentum from Orlando and the shovel-enabled stadium proposal contrasts with the Rays’ long-term negotiations and site uncertainty. While dreamers have positioned themselves as a turnkey option for MLB, the ray remains entangled with local political and logistical challenges that could hinder the ability to secure modern ballparks in time.
Major League Baseball has shown interest in expanding the future beyond the current 30 teams in potential locations such as Nashville, Portland and Montreal. However, league officials emphasize that relocation is a franchise option that cannot secure an updated stadium contract in the current market. Orlando’s advances in fundraising, coupled with a ready-to-read stadium site, could put them in a favorable position if the league advances in either option over the next few years.
