Efforts to bring a Major League Baseball franchise to Central Florida made significant progress on Thursday as the Orlando Dreamers announced additional financial support for a team acquisition. Barry Larkin, the MLB ambassador for the Dreamers, said that qualified investors have provided preliminary letters of intent and verbal commitments of nearly $1.5 billion in equity for team acquisition. That’s apart from the letter of intent the team has for financing a proposed stadium near SeaWorld Orlando and the Orange County Convention Center that has a $1 billion commitment. “We are extremely pleased with the recent rapid progress in financing interest towards a prospective MLB team acquisition,” Larkin said in a news release. “It is clear that these seasoned investors understand the compelling opportunity represented by our unsurpassed market metrics and proposed state-of-the-art domed stadium, located right in the middle of the Orange County tourist corridor that will welcome approximately 80 million tourists this year.” Orlando Dreamers co-founder Jim Schnorf said the team is completely confident in arranging any supplemental senior debt financing that might be relevant for team acquisition to supplement the equity investment already identified. Schnorf said, “Our stadium funding letter of intent from a major institutional partner will provide more than $1 billion towards construction costs, under an arrangement that is highly attractive to Orange County government and citizens, team ownership, and Major League Baseball.”Schnorf said that the Dreamers are moving forward with plans to add staff and move from interim quarters in the Maitland area to a more permanent downtown office space.”We were approached very recently by a very successful businessperson with ties to Central Florida who is extremely knowledgeable and passionate about baseball, desiring to invest in our enterprise,” Schnorf said. “Based on the quality of this individual, we mutually confirmed our first external investment, which will allow us to expedite certain key advancements in our initiative, demonstrating to MLB that Orlando is much further along than any other market pursuing a franchise. Our plan has been to be fully prepared for whatever path brings an opportunity for Major League Baseball in Orange County.”Last month, Schnorf told WESH 2 that if Orlando were to get a Major League Baseball team, it would be through an expansion slot or relocation of another team. Related: Dreamers continue efforts to bring MLB team to Central FloridaMLB Commissioner Rob Manfred hopes to select two cities for expansion teams before he retires from the job in 2029, Schnorf told WESH 2 in March. Schnorf said Major League Baseball insists on a public-private partnership to build a new ballpark. The Dreamers have identified 35.5 acres of parcel adjacent to SeaWorld Orlando and the Orange County Convention Center for its planned domed stadium. According to the organization, the stadium project would yield 25,000 permanent jobs and create $40 billion in economic impact to Orange County over 30 years. The team also says its MLB initiative would generate an addition $26 billion annual in tourist development taxes.

Efforts to bring a Major League Baseball franchise to Central Florida made significant progress on Thursday as the Orlando Dreamers announced additional financial support for a team acquisition.

Barry Larkin, the MLB ambassador for the Dreamers, said that qualified investors have provided preliminary letters of intent and verbal commitments of nearly $1.5 billion in equity for team acquisition.

That’s apart from the letter of intent the team has for financing a proposed stadium near SeaWorld Orlando and the Orange County Convention Center that has a $1 billion commitment.

“We are extremely pleased with the recent rapid progress in financing interest towards a prospective MLB team acquisition,” Larkin said in a news release. “It is clear that these seasoned investors understand the compelling opportunity represented by our unsurpassed market metrics and proposed state-of-the-art domed stadium, located right in the middle of the Orange County tourist corridor that will welcome approximately 80 million tourists this year.”

Orlando Dreamers co-founder Jim Schnorf said the team is completely confident in arranging any supplemental senior debt financing that might be relevant for team acquisition to supplement the equity investment already identified.

Schnorf said, “Our stadium funding letter of intent from a major institutional partner will provide more than $1 billion towards construction costs, under an arrangement that is highly attractive to Orange County government and citizens, team ownership, and Major League Baseball.”

Schnorf said that the Dreamers are moving forward with plans to add staff and move from interim quarters in the Maitland area to a more permanent downtown office space.

“We were approached very recently by a very successful businessperson with ties to Central Florida who is extremely knowledgeable and passionate about baseball, desiring to invest in our enterprise,” Schnorf said. “Based on the quality of this individual, we mutually confirmed our first external investment, which will allow us to expedite certain key advancements in our initiative, demonstrating to MLB that Orlando is much further along than any other market pursuing a franchise. Our plan has been to be fully prepared for whatever path brings an opportunity for Major League Baseball in Orange County.”

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The @OrlandoDreamers announce what they call “significant additional financial support”

– Letters of Intent/verbal commitments approaching $1.5 billion in equity for team acquisition
– Letter of Intent for team portion of stadium financing exceeding $1 billion#MLBtoOrlando… pic.twitter.com/kyHvv2KYT6

— Daren Stoltzfus WESH (@DarenStoltzfus) April 25, 2025

Last month, Schnorf told WESH 2 that if Orlando were to get a Major League Baseball team, it would be through an expansion slot or relocation of another team.

Related: Dreamers continue efforts to bring MLB team to Central Florida

MLB Commissioner Rob Manfred hopes to select two cities for expansion teams before he retires from the job in 2029, Schnorf told WESH 2 in March.

Schnorf said Major League Baseball insists on a public-private partnership to build a new ballpark.

The Dreamers have identified 35.5 acres of parcel adjacent to SeaWorld Orlando and the Orange County Convention Center for its planned domed stadium.

According to the organization, the stadium project would yield 25,000 permanent jobs and create $40 billion in economic impact to Orange County over 30 years.

The team also says its MLB initiative would generate an addition $26 billion annual in tourist development taxes.