Estimated read time: 2-3 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
John Daley ReportingDave Checketts, Owner, Real Salt Lake: "We're gonna tell them, describe to them, why it is time for soccer to be a major league sport in Utah."
Crunch time is coming for Utah's professional soccer club as it wrestles to get public money to help build a multi-million dollar home -- 90 million dollars, with roughly 35 million of that coming from public funds. That's bottom line for the new Real Salt Lake stadium in Sandy, according to the team owner.
The team owner made his first public-pitch to public officials. Real Salt Lake opens up its second season here at Rice-Eccles Stadium in less than a month, but that is just a temporary home. The focus of the franchise right now is sealing the deal on a permanent home in Sandy.
Soccer is surging with a talented US national team, growing fan base, and new soccer-specific stadiums recently built or in the works in eight cities. Real Salt Lake's owner tells county councilors the time is ripe to invest in a new stadium.
Dave Checketts, Owner, Real Salt Lake: "In order for Real to be a major league team, we need a home, and those homes these days require a private public partnership."
The questions have long been how much and who pays? Under the new proposal, Salt Lake County would buy the land and add infrastructure and parking, using roughly 35 million dollars mostly from transient hotel room taxes.
The team would lease the land from the county and build a 55 million dollar stadium. Total cost, about $90 million.
Peter Corroon, (D) Salt Lake County Mayor: "One of the critical things is our triple-a bond rating. It has to be protected and we don't want to enter into any kind of funding mechanism for the land for the soccer stadium if that would affect our triple-a bond rating."
Michael Jensen, (R) Salt Lake County Council Member: "It clearly would be an economic engine for Salt Lake County, but the council and the mayor are all concerned that we would limit the amount of public funds that would go in there to a bare minimum."
Jim Bradley, (D) Salt Lake County Council Member: "I need to have some questions answered on the financing of this and really take a good look and see if this is a good deal for the public."
Checketts says he'll gladly open his books to county officials to show them he has significant private investors in and out of Utah backing the project.
Dave Checketts, Owner, Real Salt Lake: "Between leverage and debt and equity, investors will raise that money and build a stadium that people here will be very proud of."
The team's first home game here this year is Saturday April 15th. The team will play its 2007 season here too and hopes to be playing its first game at its brand new stadium in Sandy in April of 2008.
