Wednesday, November 4, 2015

Spurs Sports & Entertainment and MLS

City and county officials announced Wednesday that they've reached a deal to purchase Toyota Stadium from Gordon Hartman and have realized a pathway with Spurs Sports & Entertainment to bring Major League Soccer to the Alamo City.

Subject to approval by the Bexar County Commissioners Court and the City Council next week, the two entities will purchase the soccer stadium from Hartman for $18 million, split equally among the two. SS&E will also pay Hartman $3 million. The city and county will jointly own the facility, which will be leased to SS&E for 20 years.

The Spurs ownership has 13 years to win an expansion team from MLS. If the group is unsuccessful, it will pay a $5 million fee to the city and county.

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