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SBD/Issue 33/Facilities & Venues
AEG, City Of Houston Close To Deal For Dynamo Stadium
Published October 26, 2007
AEG is in the “advanced stages of negotiating a public-private partnership with the city of Houston that would facilitate the construction of a 22,000-capacity, open-air facility” for the MLS Dynamo, according to Bernardo Fallas of the HOUSTON CHRONICLE. The $70-80M facility would be built near downtown Houston. The agreement would also “likely include the construction of a satellite public soccer complex and training facility” about seven miles south of the stadium. Both sides have indicated that a decision is “expected by year’s end.” Houston Mayor Bill White said, “There remains a large number of unresolved issues. However, both parties are optimistic that we can achieve a mutually satisfactory conclusion.” Fallas notes, “All signs point to [AEG] bearing the brunt of the stadium cost, and investment that likely would surpass $60[M],” with the city paying the remaining costs (HOUSTON CHRONICLE, 10/26).