From Deseret News archives:
Real delivers on $7.5 million gift
Line of credit to help Salt Lake build a youth soccer complex
The team said Friday that it had sent a $7.5 million letter of credit to Salt Lake City Mayor Rocky Anderson's office. That money allows the city to get a $15.3 million bond for the complex, which Salt Lake voters approved in 2003.
"Now that this project can begin, we hope that it becomes a special place for our community's youth to play soccer and other sports as well," team owner Dave Checketts said in a statement. "Our hope is that the city will deliver the world-class facility they have always envisioned."
The 180-acre youth complex will be built on the city's west side, at 2000 North between Redwood Road and Interstate 215. Patrick Thronson, Anderson's spokesman, said the mayor would sign the $7.5 million "gift agreement" Friday night.
"They do not have any other formal roles besides the letter of credit and the $7.5 million they've committed to the project," he said of Real. "The city is tremendously grateful that Real has lived up to their commitment and issued their financial instrument. This represents an enormous step forward in bringing this project to fruition."
Getting $35 million from the state for the team's Sandy stadium hinged on that $7.5 million for the youth soccer fields. The Legislature approved the deal for the $35 million in February.
But in April and May, the team and city 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 into the project, meaning the team would get a cut of concession sales and naming rights.
Anderson and numerous mayoral candidates, however, disagreed and said that the $7.5 million had always been advertised as a gift or donation.
After weeks of accusations and media reports, Checketts said that within 30 days, the team would hand over a check for the money, asking for nothing in return.
However, after announcing the team would give the money incentive-free, Real said it would no longer build an elite sports academy in the capital city. The team is now looking for other locations for the academy, established with Real Madrid.
Team spokesman Eric Gelfand said the team has not decided on a location. As for rumblings that the academy could locate on stadium land in Sandy, Gelfand said he didn't think that was a possibility.
"We are taking things one step at a time, and obviously, now that we have been able to deliver the $7.5 million as we've promised, I guess we can now look at the next things on our plate," he said, including an academy location.
E-mail: astowell@desnews.com
