Las Vegas City Council approve subsidy for soccer stadium

Las Vegas City Council approve subsidy for soccer stadium

  • Posted by Drew Epperley
  • On December 18, 2014

Wednesday was truly a day of stadium news in Major League Soccer. First D.C. United saw their stadium bill passed, proving they’ll finally get a good home to call their own. The next was in Nevada with the Las Vegas City Council approving a public subsidy for a soccer stadium.

Vegas is one of several expansion hopefuls right now. Getting over the stadium hurdle in the local government is a pretty big step for anyone.

The Las Vegas stadium will only be constructed if MLS awards the city an expansion franchise.

According to detailed information about the revised term sheet published by the City of Las Vegas, the proposed $200 million stadium, which would be situated at Symphony Park, would be “privately owned, privately managed and privately operated.”

The private funding will be headed by Findlay Sports & Entertainment and The Cordish Companies, which would cover roughly $143 million of the stadium project, while the city would kick in $25 million in bonds toward the stadium and another $31 million in infrastructure funding.

I’m still not overly sold on a team in Vegas but knowing how these sorts of things work, MLS loves seeing stadium deals passed like this. It will be tough to not expand to a market that has absolutely zero sports competition on a major league level too. While there is the whole gambling aspect of Vegas, I would imagine the league will do their homework on going into that market, if they choose to do so.

  • TSN3

    I don’t see LV and sports gambling being an issue, just look at the UK and Eupore where half of the teams are sponsored by sports gambling companies and they put the odds on the tv coverage and in the papers next to results and on the team websites with links to bet on the game. I don’t condone all that should happen in Nth America, but I can’t see it being any kind of show stopper.

    Next will be: Sacramento, Minnesota, Las Vegas, Austin/San Antonio, Indianopolis in that order.