Louisville City FC, which is continuing its pitch for a new soccer-specific stadium, has released its full slate of owners.
Late last month, the financial framework for a new stadium was unveiled. The stadium would cost $50 million and be financed by the team, while the overall project–which will include retail, a hotel and offices–will be built by private investment and potentially backed by TIF financing. Also included in the plan is a proposal for Louisville Metro Government to approve a $30 million general obligation bond. Out of that amount, $25 million would be used for land acquisition, with the additional $5 million used as a contribution to brownfield remediation and public infrastructure. The facility has been proposed as part of a $200 million development for 35 acres in the city’s Butchertown neighborhood.
As discussions over the plan continued, the club was asked to reveal its full slate of owners. By providing names of 47 individuals with a stake in the club, Louisville City FC followed through on that request, marking the latest step in a process that has moved forward this week. More from The Louisville Courier-Journal:
Club owners include local development tycoon Gill Holland, University of Louisville board of trustees member Sandra Frazier, and newly-appointed University of Louisville acting athletic director Vince Tyra.
The council’s Budget Committee voted 4-1 on Tuesday to approve a $30 million bond for the stadium, which the club plans to be playing in by 2020, the deadline set by the professional United Soccer League.
The council’s Labor and Economic Development Committee on Thursday voted 4-1 in favor of a resolution to ask the state for assistance through a tax-increment financing, or TIF, district. Club owners said they would seek approximately $30 million in TIF assistance.
The stadium would be slated to open in 2020 with a capacity of 10,000, but could be expanded to 20,000 seats in the event that Louisville makes the move from USL to MLS. A full list of the club’s ownership group is available at the Courier-Journal.
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