Friday, August 17, 2007

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: , ,


Blogger Allen said...

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.

12:05 PM  
Anonymous Anonymous said...

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.

7:21 AM  

Post a Comment

<< Home