from this morning's GlobeStNJ:
Last updated: November 26, 2007 08:29am
New York Red Bulls Buy Out Stadium Interest
By Eric Peterson
"HARRISON, NJ-The New York Red Bulls Major League Soccer franchise has acquired the 50% interest in its new stadium that it didn't already own. The team bought the half-share from Anschutz Entertainment Group, which owned the team from 2001 to 2006, when it was known as the MetroStars.
A team spokesman declined to reveal the details of the transaction, citing company policy. Soft drink maker Red Bull bought the team from AEG in 2006, paying $30 million for the team, $45 million for a half interest in the stadium and $25 million for the venue's naming rights.
And RBNY will tweak the final product a bit, according to managing director Marc de Grandpre. The seating capacity will be bumped up to the 25,000 level, and a concert stage will be deleted, making it a soccer-only facility." ....
"Site work started for the facility a year ago, and it's now slated to be finished in 2009. It's a cornerstone project of the under-construction Harrison MetroCentre, a mixed-use redevelopment being done by the Bedminster-based Advance Realty Group." ...
for the complete story see:
http://www.globest.com/news/1041_1041/newjersey/166213-1.h
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