By Ben Nicholson
October 14 – Just a fortnight after Sacramento Republic FC won the USL Pro Championship, the second tier of US professional football, the club has added an impressive list of local investors to its shareholder roster. The capital of California is chasing the final MLS expansion spot and the new stakeholders boost the club’s financial credentials in terms of local support for their venture.
The deals, however, are contingent upon the MLS granting Sacramento the expansion spot.
No figures were put on the financial commitment of the new investors but they do represent billions of dollars in Sacramento business investment, whilst extending international and national reach. The club will require around $200 million to realise its hopes for an MLS franchise – the franchise expected to cost $80-100 million and the build of a new soccer stadium around the $100 million mark.
The illustrious list of shareholders consists of Fulcrum Property President and Founder Mark Friedman, Pacific Coast Building Products President Dave Lucchetti, Buzz Oates Group of Companies Chairman Phil Oates, the Benvenuti Family Trust, Sleep Train founder and CEO Dale Carlsen, 01 Communications founder Brad Jenkins, Roger and Jonna Ward, the latter being the founder and CEO of Visinoary Integration Professionals, Kids Care Dental founder Dr. Aaron Reeves, Sacramento Jet Center President Scott Powell, real estate developer Ken Fahn, business executive and philanthropist Lisa Parker, and, most threateningly, MMA (mixed martial arts) star Urijah Faber.
Sacramento Republic FC President Warren Smith said: “The individuals and companies that are standing behind Republic FC represent many of the region’s biggest success stories. These investors believe not just in the club, but in Sacramento. Their names are synonymous with the region, and each is dedicated to expanding our community’s sports and entertainment options.”
The pre-existing lead investor, Kevin Nagle, said: “I’m thrilled to partner with this esteemed group of local business people. Their collective investment in Sacramento Republic FC further bolsters the profile and financial strength of our ownership group, getting us another step closer toward our goal of a Major League Soccer franchise.”
Many of the new investors already invest in another Sacramento based sports major league team, the Sacramento Kings of the NBA.
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