MLS: Investor Jason Ader presents competing project for creation of franchise in Las Vegas

Jason Ader, an American businessman, wants to start an MLS (Major League Soccer, the North American football league) franchise in Las Vegas (Nevada, USA), he said on 22/07/2014. His project is independent of that of Findlay Sports and Entertainment, and of The Cordish Companies, two companies that are currently negotiating with the MLS.

Ader, the CEO of the investment fund SpringOwl Asset Management, presented a £350m (€260m) proposal; $50m (€37m) in cash for the first years of the club's operation, $100m (€74m) to buy a licensed franchise from the MLS and $175m to $200m (€130m to €150m) for the construction of a covered, air-conditioned stadium of capacity 18,000 to 20,000.

The businessman would finance the project through personal funds by partnering with Asian investors interested in the American federal EB-5 visa programme, which enables foreigners to obtain an American visa in exchange for a minimum investment of €500,000 (approximately €371,000) in construction projects in the United States. Jason Ader also hopes that the city of Las Vegas will grant him fiscal incentives and…