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D.C. United Nears $300 Million Arena Deal, Washington Post Says

July 25 (Bloomberg) -- D.C. United and city officials have reached a tentative deal for a $300 million soccer stadium seating 20,000 fans in Southwest Washington, the Washington Post reported, citing City Administrator Allen Y. Lew.

The Major League Soccer team has played at RFK Stadium since its founding in 1996. The new stadium would be a few blocks southwest of Nationals Park, home of the Washington Nationals of Major League Baseball.

Under the terms of the agreement that needs approval from the D.C. Council, the District would provide about $150 million to assemble land and prepare infrastructure and the team would cover the building costs, the Post said.

The team would be given a 25- to 35-year lease for the land and would have the opportunity to develop restaurants, shops and possibly a hotel nearby, the Post said. A sales and use tax abatement worth as much as $2.6 million in its first year is also a part of the tentative deal.

D.C. United is one of the 17-year-old league’s original and most successful franchises, winning the MLS Cup in 1996, 1997, 1999 and 2004, and twice capturing the U.S. Open Cup.

To contact the reporter on this story: Nancy Kercheval in Washington at nkercheval@bloomberg.net

To contact the editor responsible for this story: Michael Sillup at msillup@bloomberg.net NI SUM NI MLS NI SOCCER NI SPORTS NI DC

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