“Very, very close:” New York City F.C. nears stadium deal in Bronx

New York City FC Unveil_Levine_Garber_Soriano

It took Major League Soccer nearly two years and millions of dollars of investment in their failed attempt to acquire a stadium in Flushing, Queens.

New York City F.C. may have just closed a deal in the Bronx in six months time.

According to the New York Post, the Manchester City/New York Yankee owned franchise is set to seal a deal that will see the nascent franchise lay roots just south of Yankee Stadium in a proposed 28,000-seat stadium.

According to the Post, NYCFC are “very, very close” to a deal that will secure the current land owned by elevator parts company GAL Manufacturing. The franchise will pay to relocate the GAL and will also work a deal with Bronx Parking Development for their stadium plans. The $400 million stadium will be located in an empty lot between the Major Deegan and East 153rd street (area pictured below, with GAL building labeled A).

GAL Manufacturing Building NYCFC

The plan, which has been given the blessing of outgoing Mayor Michael Bloomberg, is for NYCFC to fund construction with city-backed tax exempt bonds. Pilot payments would be made through a 35-year deal, guaranteeing bondholders revenues from “suite sales, naming rights” and other sources. If all goes to plan, the stadium could be ready for usage by 2018 or 2019.

With the change in regime, however, NYCFC will have to wait until mayor-elect Bill de Blasio reviews and approves the project.

This is the second big story coming out of NYCFC in mere hours, as the club announced the hiring of former Real Salt Lake coach Jason Kreis late last night.

  • rafael

    I am curious on what they will do with 153 St as it feeds the on ramp to southbound Deegan…my guess is that the stadium will be on the parking lot side?

  • john

    I think NYCFC should seriously consider a retraceable roof for the stadium, which could be advantageous if MLS extends its calendar into the winter months.

    As well as having an arena to compete with MSG for indoor concerts and events in NYC.

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