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January 27, 2007
Real Salt Lake stadium looks dead
If the proposed $110 million Real Salt Lake stadium wasn't all but dead before, it sure is now, after Salt Lake County's debt review committee voted 4-0 (with two abstentions) yesterday to recommend against spending $30 million in county hotel taxes on the project.
The committee had previously rejected the team's financial projections as overly rosy, both in terms of soccer attendance and concert bookings at the facility. It also noted that the project still had financial "uncertainties," including whether the city of Sandy could really come up with its $15 million share, and what would come from private investors.
It's now up to County Mayor Peter Corroon to decide whether to sign off on the stadium project - and if he does, to the county council on whether to approve it. RSL owner Dave Checketts gave a veiled dig at the county's number-crunchers as a bunch of visionless hicks, saying the committee "overvalued a pessimistic view that Salt Lake County really doesn't have the people and the market to make this sort of 'major league' project a reality." Because real "major league" towns, doncha know, never ask for a menu with prices.
Best news of the week!
Posted by Bill on January 27, 2007 01:14 PM
Finally someones got some guts!
Posted by eddie on January 27, 2007 01:49 PM
According to someone in the know on a soccer board I frequent, it sounds like the mayor is going to sign off on the plan, and it appears they have the votes on the council. So I wouldn't be sending a sympathy card yet. Other projects in SLC, including the Delta Center and apparently an art museum also had negative recommendations from the debt review committee.
Posted by Mike on January 27, 2007 03:55 PM
Having RSL in SLC brought the city $20 million when the city hosted a 2005 World Cup Qualifier.
Posted by Bertell Ollman on January 28, 2007 12:36 AM
$20 million in actual city revenues, or $20 million in "economic activity"? There's a huge difference...
Posted by Neil deMause on January 28, 2007 01:22 AM
You are correct. That is something that I failed to properly note, Perhaps a call to the SLC council could answer that question.
Posted by Bertell Ollman on January 29, 2007 11:14 AM
Why two abstentions? The article does not explicitly say.
Posted by Dennis on February 1, 2007 10:01 AM
Bill: Yes, exactly. Best news of the week, with emphasis on "the week".
But guess what, it's a new week now, and there is a different "best news of the week" about Salt Lake stadium.
Ain't life grand in its twists and turns?
Posted by Curtis on February 2, 2007 03:01 PM