Sacramento’s Major League Soccer (MLS) expansion bid has been given a major boost after billionaire Ron Burkle was announced as the lead investor in United Soccer League (USL) franchise Sacramento Republic FC.
Burkle, who according to Forbes has a net worth of around US$2 billion and is also part-owner of National Hockey League (NHL) giants the Pittsburgh Penguins, agreed to acquire a controlling interest in the club, which will play in the USL’s rebranded Championship in 2019.
According to the Sacramento Bee, the 66-year-old has also ‘tentatively agreed’ to buy the franchise’s proposed MLS stadium site at the city’s downtown railyard, along with 14 adjacent acres of land to develop an entertainment district.
“While we held discussions with several potential investors, our focus was, and remains, on finding the right lead investor whose vision for our club and our city best aligns with ours,” said Sacramento Republic chairman and chief executive Kevin Nagle, who will stay on at the club as a senior executive and lead local investor.
“Mr Burkle is an exceptional leader and businessman, a champion sports owner, a dedicated philanthropist, and someone with a deep appreciation for Sacramento. He is the ideal person to lead the next chapter of our club.”
California’s capital is one of a number of cities bidding to become MLS’s 28th franchise in 2022. The league is adding FC Cincinnati this year, with a Nashville team and Inter Miami CF slated to join in 2020 and Austin FC set to begin play in 2021.
“We have met with Ron Burkle over the course of the past year about his interest in MLS and are very pleased that he has finalised his agreement to become the lead investor of Sacramento Republic FC,” said MLS executive vice president Dan Courtemanche. “Sacramento remains a strong expansion candidate and we look forward to meeting with Ron soon to discuss his plans.”
Sacramento was at one point viewed as a shoe-in for an MLS expansion franchise given that it already had a stadium site secured, but the city’s failure to attract a deep-pocketed investor group saw it lose out to the likes of Nashville, Cincinnati and Austin. However, with Burkle now on board, Sacramento’s bid is likely to be a front-runner for MLS’s final expansion slot.
Sacramento’s Major League Soccer (MLS) expansion bid has been given a major boost after billionaire Ron Burkle was announced as the lead investor in United Soccer League (USL) franchise Sacramento Republic FC.
Burkle, who according to Forbes has a net worth of around US$2 billion and is also part-owner of National Hockey League (NHL) giants the Pittsburgh Penguins, agreed to acquire a controlling interest in the club, which will play in the USL’s rebranded Championship in 2019.
According to the Sacramento Bee, the 66-year-old has also ‘tentatively agreed’ to buy the franchise’s proposed MLS stadium site at the city’s downtown railyard, along with 14 adjacent acres of land to develop an entertainment district.
“While we held discussions with several potential investors, our focus was, and remains, on finding the right lead investor whose vision for our club and our city best aligns with ours,” said Sacramento Republic chairman and chief executive Kevin Nagle, who will stay on at the club as a senior executive and lead local investor.
“Mr Burkle is an exceptional leader and businessman, a champion sports owner, a dedicated philanthropist, and someone with a deep appreciation for Sacramento. He is the ideal person to lead the next chapter of our club.”
California’s capital is one of a number of cities bidding to become MLS’s 28th franchise in 2022. The league is adding FC Cincinnati this year, with a Nashville team and Inter Miami CF slated to join in 2020 and Austin FC set to begin play in 2021.
“We have met with Ron Burkle over the course of the past year about his interest in MLS and are very pleased that he has finalised his agreement to become the lead investor of Sacramento Republic FC,” said MLS executive vice president Dan Courtemanche. “Sacramento remains a strong expansion candidate and we look forward to meeting with Ron soon to discuss his plans.”
Sacramento was at one point viewed as a shoe-in for an MLS expansion franchise given that it already had a stadium site secured, but the city’s failure to attract a deep-pocketed investor group saw it lose out to the likes of Nashville, Cincinnati and Austin. However, with Burkle now on board, Sacramento’s bid is likely to be a front-runner for MLS’s final expansion slot.
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