Sources close to both parties said the university is reportedly backing out of the deal in part because the transaction did not receive support from key stakeholders, including the state, the county and the city of Orlando, according to the article.
UF and Sanford Burnham previously agreed to a potential agreement in May. The proposed agreement gave UF control over SBP’s facility in Lake Nona, Fla., in MedicalCity.. In order to finalize the proposal, UF needed the support of its stakeholders, including the state of Florida, the city of Orlando and the Lake Nona Land Company.
Operating under the notion that UF would acquire SBP, the University of Central Florida and UF officials drafted an agreement in May to create a research consortium, according to the article. With the deal no longer in place, it is unclear whether UCF and UF will proceed with their agreement.
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