April 11 – Having pre-sold 10,000 season tickets for the new NWSL franchise in Denver, the city has baulked on greenlighting $70 million of public money for land acquisition and improvements for a women’s soccer stadium.
Last month the Denver women’s team ownership group – who are paying a record $110 million for their franchise – announced plans to build a 14,500-seat stadium and entertainment district that is expected to open in the spring of 2028.
The stadium would be built at the Santa Fe Rail Yard in the Baker neighbourhood. The ownership group, led by IMA Financial Group CEO Robert Cohen, have earmarked a spend of about $200 million for the construction of the stadium, which is still in the design phase.
But with the city council members concerned over the state of the US economy in the wake of US president Donald Trump’s economic policy uncertainty, as well as how the $70 million price tag will impact other city projects, the decision has been pushed back.
“We’re being asked to invest $70 million in a time of economic hardship,” City Council President Amanda Sandoval said.
What had been planned as a vote of the project at a council meeting earlier this week, turned into a presentation with a vote being deferred to allow more time to look at the plans.
Council member Sarah Parady said: “We are facing the collapse of global financial markets. I have to say I don’t believe this stadium will ever be built.”
The city’s chief strategy officer Jeff Dolan defended the plans, saying: “I would say there’s a huge risk for the city if we don’t move forward with this particular project, with the private investment that has been committed, that this land will sit vacant for another several decades.”
“We won’t abandon this project because it’s important to our core values and what we’re trying to do,” said Cohen.
Contact the writer of this story at moc.l1744982914labto1744982914ofdlr1744982914owedi1744982914sni@n1744982914osloh1744982914cin.l1744982914uap1744982914