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As RSL Forecasts a Profit, County Raises Questions

Real Salt Lake has presented its case to Salt Lake County officials in the hope that it will help the club construct a $110-million soccer stadium. To churn a profit from the endeavor, RSL is betting on high attendance, concerts, investors and sponsorships, predicting a bright future for the barely solvent club. It's now up to Salt Lake officials to question whether those assumptions are valid, which will no doubt take several weeks. On Monday, RSL opened its books for the county and local journalists. At the heart of the matter is a decision over whether or not a soccer complex is a good investment of local taxpayer's money. The county has commissioned consulting firm Economic Research Associates to analyze the data and release a financial report in mid-January. "No matter what, there's very little down side for Salt Lake County," said Salt Lake mayor Peter Corroon. "We're only buying land, and the land generally appreciates in value. Even if the team doesn't succeed, we're still in pretty good shape." RSL needs $40 million from the county to finish the project, which would be completed in July 2008 if construction were to begin in January or February.

Read the whole story at Desert Morning News »

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