AEG to build NY/NJ Metrostars stadium

The Anschutz Entertainment Group (AEG), owners of Major League Soccer’s Metrostars, announced that they have come to an agreement with officials from Harrison, New Jersey to build a 20,000-seat football (soccer) specific stadium on the town’s waterfront. Negotiations between representatives from AEG, the town of Harrison and Hudson County officials, concluded with AEG agreeing to take on a greater share of the projected US$160m costs. The Metrostars will provide US$80m, to cover the construction costs and any overruns, in return for the exclusive rights to operate the complex. The Town of Harrison will pay US$40m for the land on the waterfront and Hudson County will build a 1,500-space car park for the facility, also costing $40m. Timothy Leiweke, President and chief executive of AEG, said: "AEG has made it very clear that we have to succeed in this marketplace to be successful and, this public/private partnership to develop a soccer-specific stadium is the one model that will guarantee this success. This is truly a landmark day for this community and the MetroStars as it will create a brand new 'cathedral' for soccer.”

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