Signs Of Reconciliation Surfacing In Rift Over Sacramento MLS Bid
SACRAMENTO (CBS13) - The rift between the Sacramento Republic FC and the lead investor of Sacramento's Major League Soccer bid is reportedly resolving.
After meeting with Sacramento's mayor, the two sides releasing a joint statement reading:
"We want to thank Mayor Steinberg for helping us meet on these very important sets of issues. We look forward to continuing this discussion tomorrow afternoon with the mayor and are committed to delivering for the Sacramento region."
The standoff between MLS lead investor Kevin Nagle and Sacramento Republic Founder Warren Smith is over money, lots of it.
How much, neither side will say publicly.
Privately, sources tell me the difference has been in the millions of dollars.
The disagreement: How much Nagle should pay Smith for the rights to his trademarked USL Republic FC brand markings. Forbes magazine reported USL franchises have skyrocketed in value recently, from half-a-million dollars on average in 2012, to an average of $21 million dollars now.
Last year, Smith was quoted by Forbes saying:
"The USL is experiencing…exponential team-valuations as the league staff continue to raise the standards on ownership, performance and expectations."
Sacramento's major league soccer bid was expected to include the Republic name, leaving fans stunned when it was now.
Now days, after the division became public, all sides say they are close to coming back together again.
