WASHINGTON, DC—A deal is reportedly being finalized between the administration of D.C. Mayor Vincent Gray and the D.C. United professional soccer team on a new 20,000-seat stadium to be built a few blocks from the home field of the Washington Nationals major league baseball franchise.
The District and the soccer team announced a tentative deal about 10 months ago, but have been in talks ever since to finalize the transaction. The progress in discussions, as reported by the Washington Post, does not alter some matters that were already been agreed upon, such as the District providing up to a maximum of $150 million in mostly infrastructure improvements for the projected $300-million stadium.
Instead of the District sharing in the profits of the team as per the original agreement, the District has reportedly agreed to a combination of sales tax payments and a future $2 surcharge on tickets.
The deal calls for the soccer team to enter a 30-year lease on the land with an extension option. D.C. United would pay no property taxes for the first five years, and then pay a graduated percentage over five-year intervals. See story in the Washington Post.
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