Real Salt Lake ready to deliver $7.5 million for youth soccer site
The soccer team has a letter of credit from Zions Bank for a no-strings-attached contribution of $7.5 million.
The team and city in April and May got into disputes over what part Real would play in the youth sports complex. Real officials had wanted the $7.5 million to be an investment in the complex to be built at 2000 North between Redwood Road and Interstate 215, meaning the team would get a cut of concession sales and naming rights.
Salt Lake City Mayor Rocky Anderson and numerous mayoral candidates, however, disagreed and said the $7.5 million had always been advertised as a gift or donation.
After weeks of accusations and bad press, Real owner Dave Checketts told reporters that within 30 days, the team would hand over a check for the money, asking for nothing in return.
In a joint statement released Monday by the team and the city, both parties said only final technical details remain to be resolved before the $7.5 million is delivered to the city. That money allows for the city to get a $15.3 million bond for the complex, which voters approved in 2003.
Real's incentive-free $7.5 million, though, came to the city at a cost. An elite sports academy established with Real Madrid that had originally been announced as being in Salt Lake is now expected to be located elsewhere.
As for where the academy will ultimately settle, team spokesman Eric Gelfand said, "we haven't really made a decision yet."
E-mail: astowell@desnews.com
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