- The tax-free bonds are expected to price Aug. 1, are rated BBB
- Plan is to open new headquarters before 2026 men’s World Cup
The US Soccer Federation is set to borrow $200 million this week through a sale of municipal debt that will help the organization finance the construction of a new national training center and headquarters in the Atlanta area.
A municipal development agency for Fayette County outside Atlanta is set to issue the tax-exempt bonds on Aug. 1 on USSF’s behalf to fund the roughly $225 million project, which will draw on support from a package of state and local tax incentives and donations. The contributions include $50 million from Arthur Blank, a co-founder of Home Depot Inc. and owner of the National Football League’s Atlanta Falcons and Major League Soccer’s Atlanta United FC.
The venue in Fayette County will feature over a dozen soccer fields and 200,000 square feet of office space. US Soccer will shift there after more than three decades in Chicago. The debt will be secured by the deed on the training facility and a lien on gross revenue from the federation’s sponsorship and media contracts, ticket sales and game-day revenue. The bonds are rated BBB by Fitch Ratings, two steps above speculative grade.
Bloomberg Markets
By Maxwell Adler
July 30, 2024