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Related, Oak View join bids for new Belmont sports arena

New York City FC and NY Islanders are competing

From left: Steve Ross, James Dolan and the Belmont racetrack
From left: Steve Ross, James Dolan and the Belmont racetrack

Two of New York’s richest sports team owners are trying to convince the state that they have the best plans to build a new arena at the Belmont racetrack site.

The New York City Football Club and the New York Islanders want to develop Belmont Park, Bloomberg reported. NYCFC, which is owned by Manchester City FC and the New York Yankees, is looking to move out of Yankee Stadium and create a 26,000-seat arena along with an area for fans to take part in pregame activities. The club indicated that it’s partnering with Related Companies on its proposal.

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Related’s chairman Stephen Ross happens to be one of the most influential figures in U.S. soccer. The billionaire real estate mogul created the International Champions Cup, bringing the top clubs of Europe to play tournaments in the United States. Attendance and television ratings have been strong.

The Islanders, whose lease at Barclays Center may end as early as January, said their proposal is “to create a world-class sports and entertainment destination at Belmont Park.” The team is partnering with Oak View Group, whose backers include James Dolan’s Madison Square Garden Co.

The deadline for proposals was Thursday. [Bloomberg] — Kathryn Brenzel 

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Commercial Real EstateDevelopmentNew York IslandersRelated CompaniesStephen Ross