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Council members to review soccer arena funding plan

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Council members to review soccer arena funding plan

CREATED 8:23 AM

LAS VEGAS (AP) -- Las Vegas city Council Members are set to decide whether to move forward on a funding proposal for a downtown professional soccer stadium.

Discussion on the project is set for Wednesday's council meeting.

Baltimore-based Cordish Companies and its local partner, Findlay Sports and Entertainment Group, are proposing a 24,000-seat, partially covered stadium that would cost $200 million. The cost of acquiring a Major League Soccer franchise is estimated at $100 million.

The deal calls for the partnership to split the bill for the stadium with the city, which would take out bonds to pay for the venue.

If Council Members approve the plan, the partnership plans to move forward with efforts to attract the soccer team.

City officials say the project won't proceed if Las Vegas doesn't secure a team.