New York officials approve $780M soccer stadium for NYCFC to be built next to Mets' home

FILE - In this April 2, 2015 photo, workers cross an unpaved street adjacent to Citi Field, home to the New York Mets baseball team in the Willets Point section of the Queens borough of New York. New York City officials approved a plan Thursday, April 11, 2024, to build a 25,000-seat stadium for Major League Soccer ’s New York City Football Club next to the New York Mets’ stadium, Citi Field.

The City Council approved the new stadium after decades of failed efforts to transform Willets Point, long a gritty cluster of auto body shops. City officials have said that the stadium will be privately financed by NYCFC’s owners, who include the Yankees and United Arab Emirates Sheikh Mansour bin Zayed Al Nahyan, the owner the Manchester City Football Club.that the actual cost to taxpayers for the stadium could be $516 million spread over the 49-year term of NYCFC’s lease.

The analysis is based on what the city would have received in property taxes had it sold the land to the stadium’s developers instead of leasing it. The development team includes Related Companies and Sterling Equities, which is partly controlled by the Wilpon family, who used to own the Mets.

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