The New England Revolution is bringing in heavy hitters to help speed up the search for a stadium in Boston. Prior to joining Goldman Sachs, Carey and the Krafts worked together to secure a low-interest loan for the construction of Gillette Stadium in 2000. A non-redacted portion of the packet obtained through a public records request by Boston.com, makes note of Goldman Sach’s intentions of “serving as underwriter on a future transaction”.
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Goldman Sachs has been involved in numerous stadium finance plans of late, including the new Yankee Stadium deal and deals for the Orlando Magic and Sacramento Kings. Talks with Boston officials are ongoing, and neither the Krafts nor the city was willing to comment on the documents Goldman Sachs prepared. The report marked the first time that a locale in Boston proper was at the center of stadium discussions after sites in Revere and Somerville were previously floated.
Interestingly, the decision to build Gillette Stadium came in the wake of the unsuccessful attempts from the Krafts to build a publicly-funded stadium for the Patriots in Boston during the mid-1990s.
While many fans have been frustrated with the lack of development in years last, Commissioner Don Garber reaffirmed his confidence in the Kraft family last week, saying that he’s seen renderings of a proposed stadium. The Revolution are one of only three MLS clubs within the 20-team league that do not play in a soccer-specific stadium, or have firm plans to move into one.
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The Krafts are reportedly working with Goldman Sachs to finance a soccer specific stadium.
