MLS Momentum Continues With Positive Steps Towards Brand New Soccer-Specific Stadium
— City Council Unanimously Approves Term Sheet Accelerating Railyards Infrastructure Development —
SACRAMENTO (November 12, 2019) – Just over three weeks after the city of Sacramento received news it would become the 29th Major League Soccer expansion club, the good news kept flowing.
The Sacramento City Council unanimously voted 8-0 on Tuesday afternoon to agree in principle to loan up to $27.2 million to the city’s Major League Soccer investment group to pay for the infrastructure around the club’s planned Railyards stadium and surrounding downtown development. The funds for the investment will come directly from a city risk management fund which would finance roads, water and sewer lines, pedestrian walkways and a light rail station on what will be the future site of the brand new soccer-specific stadium. The loan represents an amendment to a $33 million incentive package that the City Council approved earlier this year.
“We help with infrastructure and in exchange we get Major League Soccer and over $1 billion in overall investment,” Mayor Darrell Steinberg said. “This is the spark that we have needed to take railyard development to another level.”
The stadium will anchor the ambitious development in The Railyards, which will double the size of Downtown Sacramento. The team’s new home, a 20,000+ seat venue, that will be 100% privately financed, will provide substantially more entertainment than just future MLS matches. The $300 million dollar venue will feature an enhanced fan-experience curated to showcase the best of the region and the values of our community.
The stadium itself, a 20,000+ seat venue that will be privately financed and cost $300 million, will provide substantially more entertainment than just future MLS matches. The venue, which will be constructed on a 31-acre parcel with the Railyards just east of Seventh Street, will host Men’s and Women’s National team games, friendlies, concerts, festivals and plenty of other sporting, civil and family events.
The intention is to provide more than just soccer to the Sacramento community. Even though the announcement of joining MLS last month and the recent approval of the loan to help fund the new stadium seem all well and good for the future of Republic FC, but it’s the greater Sacramento region as a whole that benefits the most from the news.
“October 21st. That was not the beginning and it’s certainly not the end,” Republic FC President & COO Ben Gumpert said to City Council on Tuesday regarding the famous day the club finally received the highly anticipated invitation from MLS.
“There’s much more work to do. There’s much more work for us to do and us to do together. There’s more to build, there’s more community partnerships to enact, there’s more celebrations in the stadium together. There’s more internships, construction jobs, fields to build. There’s more balls and equipment to give out to kids in every corner of the region. And hopefully there’s a lot more championship parades to be had on the very streets here of Sacramento.”
Aside from providing an entertaining product on the pitch, Republic FC is equally as focused on positive growth in the greater Sacramento region.
“That is our commitment in every facet of this partnership, to go above and beyond and exceed everything we can, because that is what it takes to make this successful and that’s certainly what our ownership group and everyone at Sac Republic is committed to,” Gumpert said.
“I’m excited to continue to work together to make sure this is all it can be. To do everything to bring forth and invest in every opportunity that this city, this fanbase, and certainly all the great people of Sacramento deserve.”