Gov. Edward Rendell last week announced the state would grant $25 million to Chester to help build a soccer stadium if the city secures a soccer franchise by the end of the year.
The grant would be in addition to $30 million of bond proceeds that would be sold by Delaware County and be backed the county’s share of a portion of gaming funds dedicated to economic development.
The stadium would cost $115 million.
A group of investors led by iStar Financial is seeking to bring a Major League Soccer team to the Philadelphia area, according to an article in the Philadelphia Business Journal. The firm is a real estate investment trust. Representatives could not be reached Friday to confirm its involvement in the project.