Updates on MetroStars (MLS) bran new stadium

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By: Chris Bergin

8/1/2003 8:43:00 AM

Sakiewicz reveals stadium timescale

MetroStars president and general manager Nick Sakiewicz has revealed the timetable that will lead to a brand new stadium for the club in April 2006.

Legislation requirements to approve the funding for the ambitious project continue to be approved for ambitious plan to move to Harrison, New Jersey, as part of a $152 million, 275 acre, rejuvenation of former industrial land that includes shops, office space, housing, as well as the new 25,000 seat MetroStars facility.

“The funding structure has been approved by the Town of Harrison (voted on July 2, eight votes for, zero against, and one abstention,” said Sakiewicz.

“There are some house cleaning details to the agreement voted on that need to be done and the next step is for the Town to make a formal application to the Hudson County Improvement Authority (HCIA) for the sale of $55 million of General Obligation Bonds - this will happen by October.

“After that the HCIA needs to approve the application and make a recommendation to the Hudson County Board of Chosen Freeholders to approve a bond sale – in November.

“If all that goes well, and there are no reasons why it should not, the bonds will be sold in December or January with a projected ground breaking in the Spring of 2004.

“The stadium is scheduled to open April 2006.”

With the crucial elements of the approval requirements for the funding process now voted through, Sakiewicz is confident the stadium now a smooth transition to the construction phase, for what will prove to be MLS’ fourth soccer specific venue, following in the footsteps of Columbus, Los Angeles, and Dallas (ready in time for the 2005 season).

“The stadium has the green light from the most important entity in the process, The Town of Harrison,” he added. “Since the Town is pledging its future real estate taxes to pay off the bonds, it holds the key to funding for the stadium.

“The County (HCIA) is an entity which serves the Town and will act as the bank or in this case the bonding authority. There are no political or financial reasons for the County to not approve the bond sale.

“In fact, if it did not approve the bond sale as structured, it would mean the HCIA is not doing what it was set up to do for the Town. That would create significant political problems between the County and one it's key Towns.

“The final decision really will be the approval by the Hudson County Board of Chosen Freeholders to sell the bonds. It is not quite a formality but it is nowhere near as politically charged as the state funding we were seeking a year ago.”

The MetroStars currently play in Giants Stadium, where they consistently attract an average of 20,000 fans per match. A stadium of their own would create a multitude of benefits ranging from club owned revenue streams, fixture flexibility, improved atmosphere, season ticket demand and security.

Sakiewicz believes the stadium will prove to be a win-win situation for all concerned, ranging from the team, the League, and the town of Harrison.

“The stadium and to a lesser extent the new practice facility means everything to the long term success of the MetroStars and Major League Soccer,” he noted. “It also has additional significant impacts to the Town of Harrison and Hudson County in terms of new jobs, new tax revenues and redeveloping an old abandoned inner city neighbourhood.”

Sakiewicz himself has been deeply involved in the process from the very beginning, having to overcome several hurdles and critical stages – some of which were totally out of his control.

“For me personally it will be the culmination of a project that has withstood the 9/11 World Trade Center disaster, a change in ownership of the MetroStars, a down economy, attacks from various political sources to try and kill the project and other bumps and pot holes along the way,” he continued.

“Very few talk about the fact that, after all of that, I just mentioned we still have $55 million of public funding committed to and on the table from the Town of Harrison and a stadium project that is much further down the road than the Newark Arena, (New York Jets (American) football Stadium in Manhattan, (baseball’s New York) Yankees or (New York) Mets new stadiums and the Meadowlands (home of Giants Stadium) redevelopment project.

“It is going to be a great story when it is completed and I am looking forward to opening day.”