In the Business Division, however, LAFC has started well. Its Banc of California Stadium is being funded – to the tune of $350 million – by private money, and on Wednesday the team announced all premium seating options have been sold. Selling out 32 luxury suites, 49 loge boxes and 1,974 club seats is a long way from filling a 22,000 capacity facility, but it does register a significant step in the revenues department.
“There has been a huge fascination and interest in being part of something from scratch,” said LAFC owner and president Tom Penn to the Los Angeles Times. “We felt like we were coming in at the right time. There is just a surge in interest in soccer.”
At a rally on Sunday Penn and lead managing owner Larry Berg announced that a special section featuring rail seating -- seats that can be flipped up and locked in the upright position -- will offer fans the option of standing. Supporters’ section membership will be priced at $20 per game. The stadium is scheduled to be completed in time for LAFC to stage its first league home game next March.
LAFC also announced Wednesday it will spend $30 million and form an alliance with Cal State-Los Angeles to build a training complex on its campus. The announcement followed approval of the project by the California State University Board of Trustees.
The complex will house the team's offices and include facilities and fields for its academy teams, which began training last year at Cal State LA. The campus is about 10 miles north of Banc of California Stadium. LAFC will pay to renovate the university's stadium field and will also donate $1.5 million to the school.