Weird. read this from someone who was at the meeting where this came to light: But then they ALSO said: But what other news would it be.. actually why is Senator Bramble involved at all, even if it were stadium news?
I can't imagine Garber applauding at a veto ceremony, so this is odd. http://www.mlsnet.com/MLS/index.jsp the front page of mlsnet is now leading with this with headline: Major announcement in Salt Lake City and story:
Lets just hope that the fact that Checketts is friends with Huntsman (who attended the conference to announce the team) means that the state is getting behind an iniative to build a stadium... Bramble is coming to announce that he is donating his entire salary for the next decade to the stadium because he still is scared for his life after the... CHALKING.
Well, Bramble is the guy who led the fight against using the city funds for the stadium. If it's not an actual stadium announcement, it's probably a joint announcement to let everyone know that they will work together to get a stadium built. But anyway you look at it, it sounds like good news.
It's gotta be big news. Perhaps Jr. is fronting some money as a personal investor? MLSnet wouldn't be featuring it if it wasn't atleast significant news. They've never showcased any of the past stadium proceedings.
Wow. Garber has flown in. The governor is involved. We already had the jersey unveiling, and the WCQ is already announced. It has to be big. I'll be ready at 8:30 tomorrow morning.
Well, we already knew Garber was going to be in town. He's visiting each MLS city before the season starts.
Hey, It looks like it must be pretty good news. I just read this. http://deseretnews.com/dn/view/0,1249,600119274,00.html
See, I told you so. The sky is NOT falling. Nothing like being the owner of a MLS team and having the governor be your old neighborhood friend. Looks good people. Murray over downtown now?
Financing problems solved,.....................and the construction contract goes to Bramble's nephew.
This is great news for Real Salt Lake, as it seems like they'll be getting their new stadium one way or another. This is in addition to similarly-positive recent stadium news from San Jose and Kansas City. Hopefully we'll soon hear positive stadium news from the MetroStars, DC and New England as well. -G
According to MLSnet.com, the big news announcement basically is what what already reported in that Deseretnews report already posted above in this thread this morning. http://www.mlsnet.com/MLS/news/team...ent_id=24196&vkey=news_rsl&fext=.jsp&team=rsl
Reports: SLC funding plan in the works By Jason Halpin / MLSnet.com Staff Utah Gov. Jon Huntsman will reportedly announce Thursday morning a working agreement with Real Salt Lake and Major League Soccer to develop a landmark way to subsidize a soccer-specific stadium for the team. Huntsman called a press conference for 8:30 a.m. MT Thursday at the Governor's Mansion in Salt Lake City, with RSL Owner David W. Checketts, Major League Soccer Commissioner Don Garber and Utah state Sen. Curtis Bramble set to join him. Huntsman is expected to announce plans to create a unique public-private funding partnership for the stadium, a plan that Bramble told the Deseret Morning News is "new and heretofore untried." Bramble and the Utah legislature recently laid down a significant roadblock to an RSL stadium by passing a bill that would prevent Utah cities from using state Redevelopment Agency funds to subsidize sports stadiums. While land costs in Murray, Utah -- one of two leading candidates to be the home of RSL -- are low enough to allow the city to fund a stadium without RDA money, the land on which the other candidate, Salt Lake City, would build the stadium would cost an estimated $20 million. That money would have to come from the RDA. Bramble, the sponsor of the bill, contends that using RDA money for stadiums diverts funds away from schools. Both the Morning News and The Salt Lake Tribune reported that Huntsman is not expected to veto Bramble's bill. Instead, the governor reportedly plans to search for a new avenue to fund the stadium in partnership with RSL, one that would allow Salt Lake City to remain in the running for the stadium. "We have an opportunity to do something different here, create a special mechanism that might even become the model for [funding] future sports teams," Garber told the Tribune. The proposed stadium is estimated to cost a total of $60 million. Checketts has said he and the club will pay for half of that with private funds, with public money expected to cover the remainder. Neither RSL nor MLS had an official comment on Huntsman's impending announcement Thursday morning.
I think its quite clear from the various reports that they don't have any details yet.....that they plan on creating this new option, but haven't actually done so yet.
Public/private finance is all well and good in theory. But, as always, the question that needs to be asked (and therefore probably won't be) is where the public part of the investment comes from. It's usually some sort of bonds scheme, where the club effectively mortgages future gate receipts. Sometimes it works, sometimes it doesn't. For a pro, see Newcastle, for a con, see Leeds United. They were just major renovations, not complete new stadiums, and it still sent Leeds up sh1t creek without a paddle.
It's a different picture with the single entity and half the league owned by one guy. All the owners want to finance their stadiums this way. It's not like RSL is going to build a huge payroll to comete with ManU and then have a crummy season and get relegated.