Vegas council to review soccer arena funding plan

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Updated: 9/03 5:57 am

LAS VEGAS (AP) — Las Vegas city councilmembers are set to decide whether to move forward on a funding proposal for a downtown professional soccer stadium.

Discussion on the project is set for Wednesday's council meeting.

Baltimore-based Cordish Companies and its local partner, Findlay Sports and Entertainment Group, are proposing a 24,000-seat, partially covered stadium that would cost $200 million. The cost of acquiring a Major League Soccer franchise is estimated at $100 million.

The deal calls for the partnership to split the bill for the stadium with the city, which would take out bonds to pay for the venue.

If councilmembers approve the plan, the partnership plans to move forward with efforts to attract the soccer team.

City officials say the project won't proceed if Las Vegas doesn't secure a team.

 

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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