Orlando Dreamers secure anchor investor Rick Workman in MLB franchise push

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.

Who is Rick Workman?

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. 

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.

Is John Morgan backing the Orlando Dreamers?

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.

Could Pat Williams' vision become reality?

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.

Where will the Dreamers build their stadium?

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. According to Jim Schnorf, co-founder of the Orlando Dreamers, Rick Workman has signed on to be the organization’s anchor investor. 

"Rick is a friend; he is an extraordinarily successful businessperson and entrepreneur," said Schnorf. "He exemplifies the type of control owner that Major League Baseball is looking for."

Schnorf declined to reveal Workman’s financial contribution, but did say that with Workman on board, they have secured around $1.5 billion for acquiring the franchise.

Stadium construction would be an additional cost. The proposed land is owned by Orange County. It consists of a 35.5-acre lot located off International Drive near the Beachline Expressway.

"We have a letter of intent from a very qualified major financial institution for in excess of $1 billion towards the stadium construction costs," Schnorf said. "It’s under terms that we consider fair to all parties."

Schnorf said he couldn’t elaborate on the details of the "financial institution" investment, but FOX 35 has confirmed John Morgan, of the Morgan & Morgan personal injury law firm, has also expressed investor interest. It’s not all about private financing, though.  Schnorf says the MLB will insist on a public-private partnership to prove community interest and investment in the undertaking.

"It could be infrastructure improvements, road improvements, property tax abatements, contribution of land," Schnorf said. "It is an anomaly we don’t have professional baseball here. The time has come. This is probably once in a generational opportunity, and we’re seizing that opportunity."

How they plan to seize it remains unclear.

"We have the pieces of the puzzle now put together, and we are ready for a team – whatever path that opportunity may come from," Schnorf said. "Whether it’s an existing team we will buy and relocate, or one of the two expansion slots that baseball is going to add."

With the Rays in Tampa Bay, the Marlins in Miami, FOX 35’s Hannah Mackenzie asked Schnorf whether Florida could sustain another major league team.

"Florida is the fastest-growing state in the country. If California had five teams, fast-growing Florida can’t have three?" Schnorf responded. "You’ve got two teams in Chicago, you’ve got two teams in LA, you’ve got the Padres not that far away from the Dodgers and the Angels in California. We positively can support a team here."

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. As for a timeline, Schnorf estimates Orlando will be home to an MLB team within the next decade.

Momentum appears to be building. 

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