How is the funding the NM United’s stadium going to break down?

Albuquerque News

ALBUQUERQUE, N.M. (KRQE) – As New Mexico United ramp up its push for a new stadium, there are still questions about where all the money will come from and what the team will chip in. From texts to fans to a booth at Summerfest, the United is doing what they can to talk with community members about building a stadium and clear up any confusion – like reminding everyone the stadium will belong to the city.

“I think the confusion around payment is simply this: the public and private sector can’t own the same assets. What a private company can’t do is partner with a public entity and say ‘ok, we’re going to buy the field, and own the field.’ That is not an option,” said Peter Trevisani, owner of New Mexico United. “A public-private partnership is an option where we make a contribution that’ll go into building the stadium.”

If Albuquerque voters pass a $50 million bond later this year, the city could still be short about $20 million to build a stadium with extra amenities, like awnings. Trevisani said he’s confident they could come up with the money and said there are nuances surrounding payments in the public-private partnership. It’s unclear what the public funding would pay for and what private investors could cover.

“If we are going to make a contribution, for example, the Isotopes contributed the scoreboard and concessions in that agreement,” said Trevisani. “If we were to do something like that, that would just be a community benefit. A benefit for the stadium, a benefit for the city because the city would own those improvements and keep them via private contribution.”

Trevisani said private investors could pay for amenities they’d like to see. “If the team or another entity wanted to build out that stadium I’m sure those contributions could be made,” he said. “But what’s really important is that for the people going for the stadium as it’s proposed, every seat is going to be luxurious. Everybody’s going to have access to club-type amenities whether you pay $10 or 10 times that amount. The key is that everyone is going to feel like it’s a special environment.”

On Monday, New Mexico United announced it’s launching community conversations to get public input on the stadium. The first town hall conversation is on Tuesday at 5:30 p.m.

On August 16, city council will decide if the $50 million stadium bond question will go on the November ballot. The team is also hoping the state kicks in a little more money for the stadium in a future legislative session.

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