City of Sacramento officials on Thursday said they have reached an agreement with the owners of the Sacramento FC Republic soccer franchise on a new stadium and related development in the downtown railyard.
The deal is reportedly worth a total $33 million in city fee waivers, tax rebates, advertising rights, and infrastructure financing.
Mayor Darrell Steinberg called the deal a measure of the city’s interest in proving to Major League Soccer officials and the newest member of the team's ownership group, billionaire Rob Burkle, that Sacramento supports the team. "We have demonstrated to the league that we want this," said the mayor. "We are absolutely the right choice for the league."
The MLS board is scheduled to hold talks in Los Angeles about which city should be added to the league. It is believed that Sacramento and St. Louis are the leading candidates for that expansion franchise. The board meeting will take place in two weeks.
Burkle is ready to buy about 30 acres on property in the railyard to build a new stadium for the Republic which meets MLS standards. It is anticipated that the Burkle's deal to buy that land will result in other development in the railyard besides the stadium.
The agreement will be presented to the full Sacramento City Council next Tuesday. The staff report for that meeting is available by clicking here.