Title:
Title
Preliminary Term Sheet for the Development of a Major League Soccer Stadium for Sacramento Republic FC and Railyards Infrastructure
End
FileID
File ID: 2019-00523
Location
Location: Downtown Railyards, District 3
Recommendation:
Recommendation
Adopt a Resolution approving the Sacramento Major League Soccer Stadium Preliminary Term Sheet (Term Sheet).
Contact: Michael Jasso, Assistant City Manager, (916) 808-1380; John Dangberg, Special Economic Development Advisor to the City Manager, (916) 808-1222, Office of the City Manager
Body
Presenter: John Dangberg, Special Economic Development Advisor to the City Manager, (916) 808-1222, Office of the City Manager
Attachments:
1-Description/Analysis
2-Background
3-Resolution
4-Sacramento MLS Term Sheet 03282019
Description/Analysis
Issue Detail: Major League Soccer (MLS) is the highest level of professional men's soccer in the United States and Canada. The league has been expanding in recent years and based on the number of teams currently playing and the number of additional expansion teams awarded, the league stands at 27 committed teams. The league has committed to expand to 28 teams, and although there is speculation and discussion about the league expanding beyond that figure, there is currently one expansion opportunity slot available. MLS is considering several expansion opportunities throughout the United States.
Sac Soccer and Entertainment Holdings, LLC (SSEH) and its affiliates, including Sacramento Republic FC (Team), are seeking an award of an expansion team in Sacramento. To be awarded an expansion team, an MLS-qualified stadium must exist or be constructed to host the team. There is no existing stadium in the City of Sacramento that meets MLS standards. Thus, a viable plan for construction of a new stadium must be in place to secure an expansion team. The attached Term Sheet provides the framework for a public-private partnership for the construction and operation of a n...
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