Tuesday, January 16, 2007

San Jose Earthquakes in stadium talks

Everyone's favorite 'on hiatus' MLS team the San Jose Earthquakes is in talks with San Jose State University to build a new multipurpose stadium just a few hundred yards from where they once played.

"The San Jose Mercury News reports that SJSU and the soccer team, which would be called the Earthquakes, would operate the stadium as partners. Unnamed sources told the newspaper that SJSU and the Earthquakes would keep revenue from their respective events and would split revenue from other events such as concerts."

A joint venture would be excellent, however, there is still a minor issue of funding to figure out. To make this plan work, Lew Wolff, co-owner of the Earthquakes, needs the city to allow him to purchase some prime industrial land and have it rezoned for residential usage. If that happens, he will be able to sell it for a large profit and use that money to help finance the stadium. This would improve the housing situation, however, it could hurt future industrial growth in the area.

However, there is a big plus that could help move this position forward as it includes near by youth fields for the community.

The Wolff group has till 2009 to get a team up and running, so something has to start happening soon.

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1 Comments:

Anonymous Calcio Tifosi said...

This is MY TEAM! My family and friends and I love the San Jose community and the great relationship they shared with the Quakes- Spartan Stadium was a great OLD stadium that needed renewal and this new merger could provide a fantastic new partnership....I live in the Washington DC area now BUT I would still buy tickets for the Quakes! TO THE FUTURE QUAKES!

11:50 AM  

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