Fla. Cities Can't Own Part Of Sports Team, Orlando Atty Says

Law360, Miami (September 5, 2013, 7:24 PM EDT) -- Mayor Buddy Dyer has backed Orlando City Soccer Club's drive to build a downtown stadium and join Major League Soccer, but his legal staff has advised, in a opinion released Tuesday, that the city's support cannot go so far as owning a share of the team.

The Florida Constitution bars the city or county from having an ownership interest in a private company, with rare exception, Assistant City Attorney Wesley C. Powell said in the legal opinion released this week.

The city conducted the legal review...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.