Orlando Dreamers secure anchor investor Rick Workman in MLB franchise push
The Brief
Orlando's bid for a Major League Baseball team now has $2.5 billion in commitments, led by Heartland Dental founder Rick Workman, the organization said.
The group aims to acquire a team and build a stadium near International Drive.
The MLB and the Tampa Bay Rays have not commented, though Orlando remains positioned amid relocation rumors.
ORLANDO, Fla. - The Orlando Dreamers, a group pursuing a Major League Baseball franchise for Orlando, have announced a significant financial commitment totaling $2.5 billion — including $1.5 billion earmarked for acquiring a team and $1 billion for a stadium. On Tuesday, the organization shared more details about the anchor investor.
What we know
We are now learning more about the financial backers behind efforts to lure Major League Baseball to Orlando. As first reported by the Orlando Sentinel, FOX 35 News has independently confirmed that Rick Workman, founder of Heartland Dental, has been named the group's anchor investor.
Workman serves as chair of the Executive Advisor Team at New Harbor Capital, a private equity firm focused on founder-led, growth-stage companies. With more than four decades in the healthcare industry, Workman is considered a leading figure in dental services. A graduate of Southern Illinois University, he also serves on the board of Premier ENT & Allergy and previously held a board seat with PT Solutions.
Workman adds heft to the Orlando Dreamers' team of marketers and financial backers. In January, Baseball Hall of Famer, and 12-time MLB All-Star Barry Larkin announced he was joining the organization.
"To say that Rick is a massive sports fan would be an understatement. He is extremely knowledgeable about Major League Baseball," The Orlando Dreamers
In a February interview with FOX 35's Garrett Wymer, Larkin said the group sees multiple paths forward, whether through an expansion team or moving the Tampa Bay Rays to Orlando if the new stadium situation in St. Petersburg falls through.
What we don't know
The specific size of Workman's investment remains undisclosed. The Orlando Sentinel also reports that John Morgan, the founder of Morgan & Morgan law firm, has committed "hundreds of millions" contingent on the Dreamers securing a team and a stadium site. FOX 35 has learned of Morgan's interest in the franchise but his full involvement or commitment at this stage has not been confirmed.
Other members of the investment group have not been identified, and it's unclear how much political or public support exists for the stadium or the broader MLB bid. The MLB has not responded publicly to the Dreamers, and there is no indication of an active team sale or league expansion at this time.
The backstory
The Orlando Dreamers effort was spearheaded by Pat Williams, a longtime Central Florida sports executive and founder of the Orlando Magic, before his death last year.
The group initially proposed a request for $975 million in Tourist Development Tax funds for the stadium, which the county denied in favor of other priorities. The group has since repositioned its bid with more private capital and is now highlighting high-profile backers to restore momentum and credibility.
Dig deeper
The preferred location for the stadium is a 35.5-acre parcel of county-owned land next to Aquatica water park on International Drive. The project does not yet have confirmed public funding or explicit support from Orange County's political leadership.
In addition to the ballpark, the proposed complex would also include retail shops, restaurants, office space, 1,000 hotel rooms, and parking garages for approximately 6,700 vehicles.
The proposed complex, which would be south of the Beachline Expressway (SR 528), would ultimately have a pedestrian bridge and walkway connecting it to a SunRail station, should the commuter rail line be extended to the Orange County Convention Center.
What they're saying
Orlando has never had a Major League Baseball team, and the Dreamers' campaign represents one of the city's most ambitious attempts to break into the league.
"Orlando is prepared to host a major league baseball team from a financial standpoint," said Jim Schnorf, the Chief Financial Officer and Chief Administrative Officer for the Orlando Dreamers.
"All we can do is put ourselves in the best position for either a relocation or an expansion," Barry Larkin told FOX 35 in February. "Those are the things that are going to have to happen in the game of baseball. Because one thing about baseball, and a characteristic that I love about the game of baseball, is the stability and the consistency to be successful."
"To say that Rick is a massive sports fan would be an understatement. He is extremely knowledgeable about Major League Baseball. Additionally, he has a huge heart for Orlando and shares our vision of the Dreamers having a positive impact on Orange County," the Dreamers told FOX 35 News. "Having Rick Workman as our anchor investor and Barry Larkin as our MLB Ambassador are two major steps in making the Dreamers a world-class organization."
Big picture view
The plan to bring Major League Baseball to Orlando comes amid speculation that the league might expand or see an existing team, like the Tampa Bay Rays, relocate. However, MLB Commissioner Rob Manfred has publicly stated his desire to keep the Rays in the Tampa Bay area.
Even if the Tampa Bay Rays remain in the Bay Area, Major League Baseball has its sights set on expansion. The league currently has 30 teams and is aiming to grow to 32, with Commissioner Manfred reportedly hoping to finalize an expansion plan before his expected retirement in 2029.
That means two new cities could soon be added to the league — with Orlando, Nashville, Montreal and Mexico City among the names floated. Orlando, notably, is the largest media market in the U.S. without an MLB franchise.
The Dreamers continue to add investors and is reportedly scouting office space downtown. A team name will also need to be selected if the effort succeeds.
Momentum appears to be building.
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The Source
This story was written based on information shared by the Orlando Dreamers and New Harbor Capital Management, LLC.
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