Weeks before Albuquerque voters decide on a $50 million bond to partially pay for the construction of a new soccer stadium, the team that will use the stadium has announced that it will kick in another $10 million to get it built.
“We’re willing to put not just our capital, but all of our resources behind it,” said Peter Trevisani, the owner of the New Mexico United soccer team.
Additional funding for what will ultimately be a multi-purpose stadium is coming through capital outlay funds to the tune of $8 million earlier approved by the New Mexico State Legislature.
The soccer team has also agreed to enter into a long-term lease with the City of Albuquerque, committing to play in the arena for some 25 years, an agreement that equates to around $22 million in rent.
New Mexico United has additionally pledged to pay for all security and maintenance costs associated with the arena.
Last month members of the Albuquerque City Council voted in favor of putting on this November’s ballot the $50 million bond to build what is estimated to be a $70 million stadium.
Earlier estimates pegged the soccer stadium construction price tag at $100 million.
A consultant’s study completed earlier this summer recommended that the stadium should be built to house anywhere from 10,000 to 12,000 seats. The study additionally suggested two downtown sites for the facility.
Although some city leaders have expressed worries that the stadium will not prove financially successful, Trevisani and others have pointed out that up to 13,500 fans have regularly turned out to watch the team play in the Isotopes Park.
It is expected that if Albuquerque voters approve the $50 million bond in November a move will be made in the state legislature to come up with the final dollars needed to launch construction of the stadium.
By Garry Boulard
