The stadium was intended to be part of a privately financed $400 million[3][5] entertainment complex known as Elmont Town Crossings, designed to be built on the grounds of the Belmont Park racetrack.

[2] Other commentators wondered if the plan was actually a serious proposal, pointing out that in its short history the Cosmos "tend to go for sizzle and then worry about substance".

[14][6] The Cosmos had originally turned down the opportunity to join MLS based on the expansion fee and the league's corporate structure.

[15][16] The plan also faced opposition from local residents, who were concerned about building a stadium directly across the street from a suburban neighborhood.

[23] After a second round of proposals (in which the Cosmos did not participate), the NHL's New York Islanders were chosen in December 2017 to develop the adjoining plot of land with an 18,000-seat arena.