Case Study:
Turner Construction Partners with Raistone on Etihad Park
Turner Construction, responsible for the construction of Etihad Park — New York City’s first professional soccer-specific stadium and the future home of New York City FC — navigated the financial and operational complexities of large-scale infrastructure development.
How Raistone helped Turner mitigate risk and optimize subcontractor payments on this $780 million stadium project
Turner Construction was awarded the $780 million stadium construction project of Etihad Park in Willets Points, Queens. While the project represented a major opportunity, it also required managing complex financial and operational dynamics. Stadium developments require strict adherence to timelines, and any delays — especially those affecting sports schedules — can result in financial penalties and reputational damage.
Turner partnered with Raistone to implement an early payment program for their subcontractors. The firm increased their negotiating power as a result, allowing them to secure the best talent and rates.
By working with Raistone and securing top-tier subcontractors, Turner reduced risks and positioned the project for timely, successful execution. They also increased their financial flexibility by collecting a supply chain access fee on early payments, unlocking an additional revenue stream.
Key benefits of working with Raistone:
Non-debt working capital: Our solution is not debt to the general contractor or their subcontractors. It simply accelerates payment on an asset, which coexists and complements other early pay or lending facilities.
A world-leading fintech: Raistone is owned by a full-service broker dealer, a $30 billion family office, a $900 billion wealth manager, and an international bank.
Seamless Integration: Raistone solutions are embedded in many platforms that construction companies already use, making easy for subs to expedite payment on receivables.
Additional revenue: General contractors can receive an earnings enhancement when their subcontractors choose to advance payments through Raistone.
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