After Greitens opposition, soccer stadium backers hold off on state tax credits

Proponents of a soccer stadium in St. Louis are postponing their request for state tax credits, a development that makes Gov.-elect Eric Greitens’ opposition to the project much more significant.

The Missouri Development Finance Board was slated to deliberate Tuesday on $40 million of tax credits for the stadium, which is being proposed as a way to attract a Major League Soccer franchise to St. Louis. While the proposal has the strong backing of Gov. Jay Nixon and St. Louis Mayor Francis Slay, it attracted opposition from Greitens. The Republican said in a statement on Monday the soccer stadium project was “nothing more than corporate welfare for millionaires.”

The postponement came at the request of SC STL, the investor group trying to bring a Major League Soccer team to St. Louis.

SC STL vice chairman Jim Kavanaugh, the owner of the minor league soccer team St. Louis FC, said Greitens’ description doesn’t fit with what SC STL is doing, nor does it apply to the investors.

Kavanaugh said the ownership group is working on contingencies in the event it can’t secure the $40 million in tax credits, but those ideas are in the early stages. He said losing out on the state contribution wouldn’t necessarily derail the group’s efforts at an MLS team.

Read more: St. Louis Public Radio, St. Louis Post-Dispatch

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