Boston Legacy FC secures $100M in financing, kicking ball forward on White Stadium soccer plan

Boston Legacy Football Club the professional women s soccer company that has partnered with the city on a public-private plan to rehab White Stadium has secured million in financing to complete its half of the project The organization owned by Boston Unity Soccer Partners disclosed Tuesday that it has closed on the necessary major institutional financing for the project from Bank of America as required by its -year lease agreement with the City of Boston The financing secured by the Sept deadline the city had imposed on the unit will aid the extensive rebuilding of the West Grandstand and adjacent areas at White Stadium as well as additional improvements to the site for the benefit of Boston Masses Schools student-athletes and the citizens per the squad announcement Boston Legacy Football Club is proud to play a central role in restoring White Stadium as a state-of-the-art venue for the city s student-athletes and a new home for women s professional soccer in Boston Jennifer Epstein the club s controlling manager reported in a report As part of our lease we will cover the full cost to operate and maintain White Stadium for decades to come supporting BPS athletics and ensuring this facility remains a meaningful populace stock in Franklin Park Epstein declared We re proud to be moving forward with Bank of America to realize White Stadium s restored future Boston Citizens Schools student-athletes are set to share use of a rebuilt White Stadium with Boston Legacy FC a new National Women s Soccer League crew beginning in Due to construction delays the company will play its inaugural season at Gillette Stadium next spring The city s cost for its taxpayer-funded half of the public-private project stands at million but Mayor Michelle Wu explained the price tag is likely to increase when all construction bids are out the door later this year due in part to federal tariffs Wu has declined to provide an updated estimate for how much the controversial project will cost taxpayers and her office didn t respond to the Herald s request for comment on where that figure at the moment stands With the latest financing agreement the crew has devoted roughly million to its half of the project after the crew s for-profit ownership group deposited million in escrow for construction in February as required by the city lease The mayor has championed the project as restoring a dilapidated facility for Boston Populace Schools student-athletes and touted the financing agreement as a major milestone in her administration s bid to bring the stadium rehab to fruition This landmark financing agreement is another major milestone as we move forward with delivering a world-class sports complex for BPS students and a new population store for Franklin Park Wu revealed in a message After several decades of waiting Boston s student-athletes will have an athletics facility that matches their talent and feasible owned by BPS and available more than days per year to students and the constituents We are excited to see the next phase of construction get underway Wu added Related Articles Boston city councilor s push to ban motorbike deliveries falls flat with colleagues Ex-Boston City Hall employee sues city mayor over alleges she was fired to protect top Wu official Destroyed Boston city councilor eyes ban on motorbike deliveries Can no longer be the Wild West Boston councilors decry crime as city stiffs police crime lab by million Battenfeld Boston voting a test of clout for former Mayor Marty Walsh Structural demolition at the stadium is complete and the association plans to begin the next phase of construction in November in coordination with the city s own redevelopment efforts at White Stadium The public-private pro soccer rehab of White Stadium has divided the population led to a lawsuit and prompted an alternative proposal from project opponents who say a high-school-only renovation would cost the city just million By comparison the current plan is estimated at roughly million The city s half of the project expected to grow again has already nearly doubled from its initial million projection to million at the end of last year