SACRAMENTO, Calif. — Sacramento has taken a big step toward being considered for a Major League Soccer (MLS) team.
Sacramento council members unanimously approved a “Preliminary Term Sheet” for developing an MLS stadium, which Mayor Darrell Steinberg called a big move.
In order to get an MLS team, Sacramento needs an MLS-qualified stadium. Since there isn't one in the city, officials needed to put together a viable plan to build one.
Their approved term sheet puts forward the framework for the construction and operation of a new stadium, and, while the term sheet is preliminary and nonbinding, it does provide a good faith agreement toward developments for the stadium.
It also lets the investor group, led by Ron Burkle, to present a competitive proposal to MLS for an expansion team and provide a new stadium downtown, and, if an expansion team is awarded, those stadium plans go forward.
That stadium would serve as the home of Sacramento Republic FC, but it would also host concerts, sporting events, community-oriented events, and other events.
Total cost?
The total cost for the stadium is $252 million, and ancillary development could be multiple times that amount.
Who would pay for it?
The investor group would pay for the cost and own the stadium. It would also be responsible for aspects including stadium design, construction, finance operations, and repairs.
Where would it be?
It would be located at the Railyards. There’s a tentative agreement with Downtown Railyard Venture, LLC to acquire the site and adjacent development sites that total about 31 acres.
How big is the stadium site?
The stadium site is about 14 acres. The other 17 acres adjacent to the stadium is for ancillary development.
It would have a capacity of up to 22,000.
How many jobs does it bring?
Economic impact analysis models used by the city indicate that the stadium could generate up to 2,639 jobs and at least 1,310 jobs. A typical MLS franchise and stadium operation can provide between 75 and 120 direct full-time jobs, more than 800 part-time jobs, and can also generate economic output from its operations.
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Sacramento's soccer saga continues as Republic FC releases updated renderings for a proposed MLS stadium contingent on California's capital city landing a Major League expansion team.