Jacksonville Armada FC soccer team owner Robert Palmer announced Oct. 30 he is selling the team.
Palmer, the owner of RP Funding and other companies, bought the Armada in 2017 from the North American Soccer League. The professional team is now part of MLS Next Pro, Major League Soccer’s development division.
The team is developing a stadium north of the former Jacksonville Fairgrounds site Downtown with plans to play games there in 2026.
“I’m proud to share that we have come to terms with a Jacksonville-based business owner to acquire the Armada and carry forward the vision we set in motion eight years ago,” Palmer said in a news release. “We will support this individual throughout the MLS approval process, and, once the sale is finalized, my companies will continue to be involved (as) proud sponsors.”
Palmer did not reveal the identity of the business owner, and the Armada did not respond to an email message.
“The Armada is now entering a crucial point in the club’s history and requires the right steward to guide this exciting new era,” Palmer said. “Earlier this year, I was approached by someone with deep Jacksonville roots, who a shared passion for advancing professional soccer in this city. After thoughtful discussion with my family, it became clear that this could be the right path forward—both for the Armada and the loyal fans who have given so much of themselves to this club.”
Palmer, a Lakeland native who previously owned a home in Neptune Beach, now says he spends most of his time in Montana.
He also has been working to take his company LPT Realty public in 2026 through an IPO and has reserved the ticker symbol of LPTA with Nasdaq.
“As I’ve gained a deeper understanding of what it truly takes to navigate the IPO process, I’ve realized that it requires tremendous focus, discipline, and day-to-day commitment,” Palmer said.
The Armada was issued a building permit Jan. 20 for an $18.2 million stadium at 1041 Albert St. north of the Jacksonville Fairgrounds.
The 14,000-square-foot stadium is planned for 2,545 seats and an office facility, according to the construction permit. A second phase would expand capacity to 9,472 seats.
Nathan Walter, Armada president and general manager, said in November that the team expects to have the stadium completed by the start of the 2026 season.
The Armada bought 34 vacant properties Downtown totaling 6.56 acres from the city of Jacksonville on Dec. 20 for $1.
Palmer acquired the land through Jax Downtown Pro Real Estate LLC of Lake Mary.
The multiple lots are at Spratt, Van Buren, Albert, Grant and Georgia streets and A. Philip Randolph Boulevard in the Sports and Entertainment District.
Palmer previously said he planned to move the headquarters for LPT Realty, now in Lake Mary, to the stadium. The announcement from Palmer did not address those plans. Plans call for the stadium to also house the team offices.
Palmer has several companies including Aperture Global Real Estate, RP Funding, HomeValue.com and RP Title and Escrow now headquartered in Lake Mary.
“From the bottom of my heart—thank you to the City of Jacksonville, our fans, partners, and players for your unwavering support,” Palmer said. “The Armada will always hold a special place in my life, and I will continue to root for its success for years to come.”