Report: NYCFC close to landing $400 million stadium in Bronx

Report: NYCFC close to landing $400 million stadium in Bronx

MLS- New York City FC

Report: NYCFC close to landing $400 million stadium in Bronx

New York City FC

By FRANCO PANIZO

New York City FC have their head coach, and soon they could have the location for their soccer-specific stadium.

On the same night that Jason Kreis was officially announced as NYCFC’s first head coach, a report from the New York Post surfaced Tuesday that said the club was close to finalizing a deal for a 28,000-seat stadium in the Bronx just south of Yankee Stadium. The stadium is expected to cost $400 million, will be located in what is now an empty lot between the Major Deegan and East 153rd Street and is expected to open in 2018 or 2019.

While NYCFC is close to inking a deal, it still has to work out some more details with GAL Manufacturing, an elevator parts company. The deal will also include the not-for-profit Bronx Parking Development Company.

It is also reported that the expansion side will spend the first few years of its existence playing at Yankee Stadium.

The club will not move forward with the deal for the Bronx stadium without mayor-elect Bill de Blasio’s blessing and he has reportedly not yet reviewed the deal. NYCFC is expected to make pilot payments through a 35-year deal and guarantee bondholders revenues from suite sales, naming rights and more.

Under the proposed plan, NYCFC will fund construction of the stadium with city-backed tax exempt bonds and another report claims that New York City will give the club a 99-year lease.

New York City FC, who just appointed Jason Kreis as their first head coach, will begin play in MLS in 2015.

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What do you think of this reported deal to put a stadium in the Bronx? Like the location? Happy to know NYCFC will begin its play at Yankee Stadium?

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