Louisville City FC Closes Financing on Butchertown Stadium Development
LOUISVILLE - Louisville City Football Club is delighted to announce the closing of the financing for its soccer specific stadium in Butchertown, which will be completed for the 2020 season. Syndicated by Fifth Third Bank, this $50 million financing paves the way for the 11,300-seat anchor in the 35-acre Butchertown Development District.
First Financial Bank, Regions Bank, Paducah Bank, Wesbanco Bank, Stock Yards Bank & Trust Company, and Commonwealth Bank and Trust join Fifth Third as lenders in the deal. In addition, Middleton Reutlinger served as counsel to the Club during the transaction.
LouCity President Brad Estes said this about taking a massive next step toward the future:
"Our new stadium is a real sign of progress both for this club and the community at large. For the first time, we will benefit from all the revenue streams associated with professional soccer, which means sustainability for our business model long into the future. We would like to thank all our partners, especially the Mayor's Office and Metro Council, without whom this stadium would not be possible."
Michael Ash, Market President of Fifth Third Bank, added:
"Fifth Third Bank is proud to serve as the leader in the syndicated bank facility for the Lou City stadium. We remain committed to the development of this community, and it is that vision that drew us to this project. We look forward to a long and fruitful partnership with Louisville City FC, and the city of Louisville."
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