Real get their $35 million
The endless saga of the new Real stadium in Sandy looks to be at an end as the Sandy City Council has approved $35 million in bonds that will go to building the new complex for MLS's less successful club. The money from the bonds will be spent as follows:
- $20 million will be spent to buy RSL's 23-acre stadium ground
- $10.3 million will go to design and construction of public infrastructure
- $4.2 million will pay for parking
About $.5 million of the money will go to paying for the issuing of the bonds.
In return for the money, Real must stay in Utah for 25-years or must repay the bonds, promote Sandy in their information about the stadium and donate 500 tickets to charity for each game.
It is hard to believe that just a few months ago it looked like the experiment in Salt Lake was dead but now they have the funds needed to push the team into a new place. Hopefully the team will use this as a way to restart the club as they head into next season.
Labels: MLS, Real Salt Lake, Stadium
posted by Mike H at 11:01 PM
2 Comments:
It's good to see this deal be completely done now. As for rebuilding, that's not a problem. The problem is actually building a team. Ellinger completely failed to do that.
How is getting $35 million for a stadium going to "rebuild" the team?
There is no correlation. RSL still has a bad rep w/ the community, Kreis is still the coach and they are still losing games.
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