St. Louis soccer ownership group would pay cash for downtown stadium

The St. Louis group vying for ownership of a Major League Soccer team is willing to pay cash for a $250 million downtown stadium.

Carolyn Kindle Betz, granddaughter of Enterprise Holdings founder Jack Taylor and executive director of the Enterprise Holdings Foundation, said Wednesday that the ownership group didn’t plan to borrow money for the 20,000-seat stadium.

Betz is part of a nine-person ownership group, along with Worldwide Technology CEO Jim Kavanaugh and other members of Taylor’s family.

MLS has not said how many spots are left for new teams in the league, but Betz said the group’s plan would make it “very hard for them to say no to us.”

The group has asked for tax relief on the project. The city has offered free use of the stadium land, a 50 percent break on ticket taxes, a full exemption on taxes on stadium construction materials and a $30 million state tax reduction.

The city’s Land Clearance for Redevelopment Authority could approve some incentives Thursday. Additional votes for approval from city and state officials are scheduled in the coming weeks.

In 2017, St. Louis voters rejected a plan for public financing of an MLS stadium project.

Read more: St. Louis Post-Dispatch

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