A group led by St. Louis businessman Dan Cordes yesterday unveiled plans to build an MLS stadium "on a 13-acre site" owned by Saint Louis Univ., according to Brian Feldt of the ST. LOUIS BUSINESS JOURNAL. The 22,500-seat stadium "would likely cost" between $135-150M, and could ultimately "lure an MLS soccer team." Cordes, the CEO of the group, dubbed Foundry St. Louis, said that the stadium "would be mostly privately funded, though the group would seek public assistance in the form of tax increment financing." He added that SLU would "own the property with the group ... leasing the land for the stadium, which would also be home for SLU's men's and women's soccer teams," as well as a professional women's team. The group and its plan is "separate from the group led by former Anheuser-Busch President Dave Peacock, which appears to be narrowing its focus for a stadium." Cordes said that the Foundry group "plans to submit a proposal to MLS by November" (BIZJOURNALS.com, 10/18). In St. Louis, Mike Faulk reported Peacock's group "hasn't had substantive talks with Foundry," which in addition to Cordes includes "about 10 others who are contributing either financially or through professional services." They include NHL Panthers minority owner Rick Lehman. A "potential snag" for the proposed Foundry site is that it "isn't downtown" (STLTODAY.com, 10/15).
