Cooperstown, Canton and Springfield will have to make room for another memorabilia haven.
The National Sports Museum completed a $93 million financing transaction and will soon move to the construction phase.
The National Sports Museum has completed a $93 million financing, closing on $57 million in Liberty Bonds and $36 million in private investment. With funds secured, construction for the 80,000-square-foot museum has begun.
Located just four blocks from the World Trade Center site, and two blocks from the Statue of Liberty and Ellis Island ferries, the National Sports Museum will be North America’s first museum-attraction dedicated to the history, grandeur and significance of sports. The museum will also be a major contributor to the revitalization of Lower Manhattan.
The museum’s private investors include senior management of almost every major New York investment house. Their equity financing, along with $57 million in New York Liberty Bonds issued by the City and State of New York as debt financing for the museum, will allow the museum to stay on pace for a Spring 2008 opening.
"We are thrilled to move into the construction phase of the museum," said Philip Schwalb, Founder and CEO, National Sports Museum. "There are so many people who worked very hard to help us complete the financing for the attraction — from the City and State of New York to our private investors and over 50 sports halls of fame, museums and organizations across North America. We look forward to bringing jobs, tourists and sports enthusiasts from around the world to Lower Manhattan."
The National Sports Museum (NSM), fashioned following 9/11, is part of the rebuilding of Lower Manhattan and is North America’s first and only museum – attraction dedicated to the history, grandeur and significance of all of sports. It will contain modem interactive exhibits and memorabilia celebrating baseball, basketball, football, hockey, golf, tennis, boxing, track & field, soccer, swimming, lacrosse, extreme sports, auto racing, equestrian events and other sports.
The NSM unifies the celebration of sports by bringing together more than 50 single-sport museums and halls of fame in North America. These sports partners have committed to provide exhibits and memorabilia to be displayed at NSM, as well as to promote NSM among their cities, members and constituencies. The NSM’s partner organizations include halls of fame such as those for Basketball, Hockey, College Football, Soccer and the PGA/LPGA; national governing bodies such as Special Olympics, The Jackie Robinson Foundation, USA Hockey, US Soccer, USA Softball and US Lacrosse; museums, like those celebrating the Negro Leagues and Yankee legend Yogi Berra; and NASCAR. The NSM is also the new home of the Heisman Trophy.
For more information, visit www.thesportsmuseum.com.