USL Pro club Sacramento Republic FC yesterday announced that it "has reached an agreement to acquire land in the downtown railyard for a new 20,000-seat soccer stadium" that could host an MLS franchise, according to a front-page piece by Lillis & Kasler of the SACRAMENTO BEE. The club said that it is "purchasing land in the northeast corner of the downtown railyard for its stadium." Local developer Larry Kelley, who is acquiring the 240-acre railyard, "will join Republic FC’s investor group, contingent upon the team landing a spot in MLS." The team's purchase of land in the railyard also "hinges upon whether the city is granted an MLS expansion team." A grassy hill "would sit on the northern edge of the stadium, giving fans a view of the field and the downtown skyline." The club's practice facility "would be located a block away." Club Managing Partner Kevin Nagle said that the facility "could be used for events besides soccer, including other sports and concerts." The stadium announcement "came on the eve of a scheduled visit" by top MLS execs, who today will "begin an intense two-day assessment of Sacramento's viability as an expansion market." The city "is in a tight race with Minneapolis for the 24th spot in MLS." Las Vegas and San Antonio "are also considered contenders" as the league plans to add one more team by '20. League officials also "plan to visit Elk Grove, where city officials and a group led by former Assembly Speaker Fabian Núñez are making their own bid for an expansion franchise." The Elk Grove City Council "has agreed to buy land for a stadium near Highway 99" (SACRAMENTO BEE, 9/18).
DOUBLING DOWN: Cordish Cos. Development Dir Port Telles, whose company is aiming to build a downtown, $200M soccer stadium in Las Vegas, last night at a City Council meeting said that the venue "isn't financially viable" without a $3M annual contribution from the city. In Las Vegas, Conor Shine reports Telles' response came "after being pressed by Councilman Bob Coffin on why the developers can't borrow the money needed" for the venue themselves or "find a partner to put up the financing." Telles said, "It needs to be a public-private partnership. If we were to go out to build the entire stadium privately, we simply cannot do it" (LAS VEGAS SUN, 9/18). Also in Las Vegas, Alan Snel reports the city "released a new soccer stadium feasibility study Wednesday, following a consultant’s error in sending an outdated stadium revenue and expense chart to city officials last week." The updated AECOM study shows that the proposed 24,000-seat stadium "would generate" nearly $2.5M annually in operating net income from '17-19, and $3.6M from '20-21. The outdated chart showed that the stadium "would create net operating income" of about $1.7M annually from '17-19 and $2.8M a year from '20-21. The AECOM study "was commissioned by The Cordish Cos." (LAS VEGAS REVIEW-JOURNAL, 9/18).
