2008 Woodie Awards
Kassing, Wolff agree stadium deal is dead
Kyle Hansen
Issue date: 4/23/07 Section: News
Wolff's plan called for the use of most of the 63-acre South Campus. Kassing was concerned that the university would be losing its property so that someone else could make money.
"We would provide a parcel of land, they put a commercial activity on that land and then make money," Kassing said in a press conference at the beginning of the month. "So we provide an opportunity for them to make money by having a parcel of land, … and we want a return on that land."
According to unnamed sources quoted by the San Jose Mercury News, Wolff offered the university $1 million per year for use of the property, plus a share of the revenue generated by other events at the facility such as concerts.
The Earthquakes would keep all revenue from soccer matches and the university would keep all revenue from SJSU football games.
The Mercury News reported that Kassing wanted $6 million a year guaranteed from stadium revenue.
Wolff proposed to pay for the new stadium with funds raised from the development of land in the Edenvale area of San Jose, according to a report released by the city last week. The development is contingent on the city council rezoning the land for residential use, which is not likely to happen if Wolff is not going to use the profit to build a new stadium within the city.
Wolff told the Mercury News earlier last week that he hoped to build the stadium in San Jose and with the university, but that his options were open.
"My absolute preference is to do it in San Jose," Wolff said. "And my second preference is that if we do it in San Jose, it would be fun to do it with the university.
"If for some reason we can't do it with them, I'd still like to do it in San Jose. But our option is for the entire Bay Area."
The Mercury News also reported that Wolff has been in preliminary negotiations to build a stadium in Placer County, outside of Sacramento.
"We would provide a parcel of land, they put a commercial activity on that land and then make money," Kassing said in a press conference at the beginning of the month. "So we provide an opportunity for them to make money by having a parcel of land, … and we want a return on that land."
According to unnamed sources quoted by the San Jose Mercury News, Wolff offered the university $1 million per year for use of the property, plus a share of the revenue generated by other events at the facility such as concerts.
The Earthquakes would keep all revenue from soccer matches and the university would keep all revenue from SJSU football games.
The Mercury News reported that Kassing wanted $6 million a year guaranteed from stadium revenue.
Wolff proposed to pay for the new stadium with funds raised from the development of land in the Edenvale area of San Jose, according to a report released by the city last week. The development is contingent on the city council rezoning the land for residential use, which is not likely to happen if Wolff is not going to use the profit to build a new stadium within the city.
Wolff told the Mercury News earlier last week that he hoped to build the stadium in San Jose and with the university, but that his options were open.
"My absolute preference is to do it in San Jose," Wolff said. "And my second preference is that if we do it in San Jose, it would be fun to do it with the university.
"If for some reason we can't do it with them, I'd still like to do it in San Jose. But our option is for the entire Bay Area."
The Mercury News also reported that Wolff has been in preliminary negotiations to build a stadium in Placer County, outside of Sacramento.
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