SECAUCUS, NJ - Red Bull New York (RBNY) today announced that it has purchased AEG's 50% interest in the development of Red Bull Park, a state of the art 25,000 seat soccer-only facility under construction in Harrison, New Jersey. Going forward, Red Bull New York will have full ownership of the project and oversee all aspects of construction and stadium management. Projected completion for Red Bull Park is in 2009. Per company policy, terms of the deal were not disclosed.
"We would like to thank AEG for their hard work in our partnership over the past 18 months," said RBNY Managing Director Marc de Grandpre. "To fulfill our ultimate goal of creating an elite sports franchise in the United States for our fans, it is vital that we have a home that all of us can be proud of. When completed, Red Bull Park will be the crowning centerpiece of our club, as we challenge for an MLS Cup year after year."
In addition, RBNY announced the hiring of John Amorosa as Construction Manager. Amorosa will be responsible for overseeing the construction of both Red Bull Park as well as the Red Bulls Training Grounds in Hanover Township, New Jersey.
Red Bull Park is the cornerstone to the Harrison MetroCentre Development, a mixed use urban redevelopment initiative. Red Bull Park will be a short walk from the Harrison PATH station, which is just 20 minutes from Midtown Manhattan, making it one of the most accessible sports-entertainment venues in the region. The stadium is also within walking distance of Newark's Ironbound neighborhood.
About Red Bull New York (RBNY): RBNY is one of 13 teams that comprise the top-flight professional soccer league in the United States - Major League Soccer. On the field, the team is led by former Premiership striker Juan Pablo Angel, a finalist for the League's Most Valuable Player award, and former U.S. World Cup captain Claudio Reyna. In addition to Red Bull Park, the team is constructing a permanent, state-of-the-art training facility in Hanover, NJ. RBNY is owned by Red Bull GmbH, an Austrian company that produces the world's leading energy drink.
