Real Monarchs' yet-to-be-built home at the Utah State Fairpark just came one step closer to reality, with the Utah State Fairpark Board and Real Salt Lake owner Dell Loy Hansen agreeing terms on the construction of a new stadium.
The stadium, which would house Real Monarchs, has an estimated $18 million price tag, all of which will be paid by Hansen. The Real Monarchs organization will operate and maintain the new stadium.
Despite coming to terms, there's still some uncertainty, as the Utah State Legislature must vote to extend the lease on the Fairpark site. The deal is contingent on that lease being extended an additional 40 years.
In a press release, Lowell Peterson, vice-chairman of the Fairpark board and a former state senator, urged legislators to extend the lease.
"The stadium would be a huge step forward in revitalizing the entire Fairpark," he said. "We urge the State to extend the Fairpark Corporation's lease on the Fairpark, so we can preserve the Fairpark for generations to come."
The release also notes that the agreement involves infrastructure improvements to the site, including improved parking, landscaping, and signage, as well as a new entrance from North Temple, which abuts the site.