More fields for Mckinney

Has anyone else been following the story of the Mckinney city council approving a conditional $600,000 ( $300,000 grant and $300,000 loan) to Gordon Hill, which combined with his claim that he has another $600,000 in private equity, will be the 30% dp on a $4,000,000 loan to build 4 to 6 turf fields adjacent to Craig Ranch. Gordon is claiming he will rent the fields at $75 a half a field and that is his business model. On a $2.8 million dollar note and a $300,000 note the payments have to be in excess of $20,000 per month and added to taxes and up keep it sounds like a steep slope. I am all for more fields and turf ones to boot but is this model/secenario possible ? Anyone closer to it then I know anything ?

Isn't he the United FC founder? Hope this goes better than that....

cornerkick96 wrote:Isn't he the United FC founder? Hope this goes better than that....

don't think so!

Yes this is Gordon Hill from United FC.

soccer4fun wrote:Has anyone else been following the story of the Mckinney city council approving a conditional $600,000 ( $300,000 grant and $300,000 loan) to Gordon Hill, which combined with his claim that he has another $600,000 in private equity, will be the 30% dp on a $4,000,000 loan to build 4 to 6 turf fields adjacent to Craig Ranch. Gordon is claiming he will rent the fields at $75 a half a field and that is his business model. On a $2.8 million dollar note and a $300,000 note the payments have to be in excess of $20,000 per month and added to taxes and up keep it sounds like a steep slope. I am all for more fields and turf ones to boot but is this model/secenario possible ? Anyone closer to it then I know anything ?

I don't know anything about this deal, but as shaky as the model sounds keep in mind that there are other ways to generate revenue with an asset like turf fields in the metro. Aside from the obvious concessions possibilities, parking fees might be an option too. FCD is able to bring in some extra revs with tournaments at PHP via parking fees. Even the FCD players have to pay those stinking fees... I mean what the, oh my bad I am getting off the subject.

Something just does not add up for me. Either he is "selling" an idea and the city bought into it or this is a trojan horse and there is something else like a club (besides his) behind this. Too much debt and not enought revenue to pay under the spoken senario.