New York Red Bulls Buy Out Stadium Interest

HARRISON, NJ-The New York Red Bulls Major League Soccer franchise has acquired the 50% interest in its new stadium that it didn’t already own. The team bought the half-share from Anschutz Entertainment Group, which owned the team from 2001 to 2006, when it was known as the MetroStars.

A team spokesman declined to reveal the details of the transaction, citing company policy. Soft drink maker Red Bull bought the team from AEG in 2006, paying $30 million for the team, $45 million for a half interest in the stadium and $25 million for the venue’s naming rights.

And RBNY will tweak the final product a bit, according to managing director Marc de Grandpre. The seating capacity will be bumped up to the 25,000 level, and a concert stage will be deleted, making it a soccer-only facility. “We would like to thank AEG for their hard work in our partnership over the past 18 months,” de Grandpre says.