ReAL Salt Lake Says They Need Public Financing

None by Bryan Schott

Owner Says Private Investors Will Not Loan Money For Infrastructure

(KCPW News)  The decision by Real Salt Lake owner Dave Checketts to donate $7 million to help build a youth sports complex in Salt Lake City is drawing fire. Critics of the donation say that money is better used in Real's quest for a soccer stadium in Sandy. Real Salt Lake owner Dave Checketts says any financing plan for the stadium must include public money, because private investors will not lend money for infrastructure - like water lines and curbs.

Checketts says he's lined up nearly $90 million in private financing for the stadium. He adds that other Utah sports stadiums, like Franklin Covey Field, would not exist without public financing.

Some Salt Lake County officials say if Real can come up with an additional $10 million to cover interest from a public bond issue, they might be able to make public financing for the stadium work.

Email to a friendPosted in KCPW Newsroom. Copyright 2008 KCPW