ADVERTISEMENT

Albuquerque, soccer team seek to build stadium if bond OK’d

September 24, 2021 GMT

ALBUQUERQUE, N.M. (AP) — City officials and the New Mexico United soccer team announced Thursday the terms of a long-term lease and development agreement should voters approve a stadium bond.

If the bond is passed in the Nov. 2 municipal election, city officials said Albuquerque will invest up to $50 million to build a stadium that has up to 12,000 seats.

The lease agreement includes a $32.5 million contribution toward the stadium project by New Mexico United and the team is committed to paying for the day-to-day operating costs.

The agreement also outlines the use of local food and beverage vendors and a provision to bring a women’s soccer team to Albuquerque.

New Mexico United owner Peter Trevisani said the multi-use stadium would be publicly owned facility, create 780 jobs and not raise taxes.

Under the agreement, the team will pay the city $800,000 a year and $100,000 a year minimum for concessions and revenue generated from the facility.

Lawrence Rael, chief operations officer for the city, called it a strong deal for Albuquerque.