The Saputo family covered more than 70% of costs
After meeting the press last Friday for a panel discussion regarding the club’s finances, Montreal Impact president Joey Saputo once again opens up about the numbers that were relayed in the media in the past few days, particularly on the origin of the investments that covered the building costs of the infrastructure used mainly by the Bleu-blanc-noir. Over 70% of both sites’ building costs, which came to a total of $82 million, were paid by the Saputo family.
Three development stages at Stade Saputo
The home of the Impact, built right next to the Montreal Tower on land owned by the Olympic Park - land that was not earning the city any municipal tax before 2008 - was developed in three stages. The first phase, the construction of the stadium with a 13,000 seating capacity, cost $17.5 million; the expansion ahead of the club joining MLS, in 2012, amounted to $38.6 million; also, punctual, additional upgrades from 2012 to 2018, including the $3 million enhancements made last year, cost a total of $8.5 million. On a total bill of $64.6 million, the Gouvernement du Québec contributed $23 million; the remaining $41.6 million were paid by the Saputo family, which represents 64% of the stadium's construction cost.
Centre Nutrilait benefits the Impact and the Montreal community
The Impact training centre, opened in 2016, was paid for by the Saputo family and represents an important hub for the Mercier-Hochelaga-Maisonneuve borough. The former Caserne Letourneux was transformed at a cost of $17.4 million; the City of Montreal contributed $350,000 to restore the patrimonial building’s unique tower.
As a reminder, Centre Nutrilait is also used by the community in the neighbourhood, as the two synthetic fields are available for local soccer clubs in the evening. Also, over 50% of municipal taxes linked to Centre Nutrilait stem from installations owned by the borough.
A non-profit organization paying $11 million in tax
Since 2008, Stade Saputo, a non-profit organization, paid $11 million to the City of Montreal in municipal tax, on land that is owned by the Olympic Park, that did not yield any municipal tax to the City of Montreal and built on donations amounting to $59 million. Since 2008, the Impact plead to municipal authorities for a tax correction that would be based on the club’s revenue method instead of one based on the stadium’s construction cost, which lead to a $364,000 reduction on an annual bill of $1.6 million in 2015. However, Centre Nutilait’s taxes kept climbing year after year: in 2016, the bill amounted to $562,108. It was raised to $699,041$ in 2017 and hit $719,761 this year. Overall, the Impact pays $2 million in tax each year to the City of Montreal for Stade Saputo and Centre Nutrilait.
The Forbes club value, a mirage
Forbes publishes an annual appraisal of the value of many sports clubs all over the world, including all MLS clubs. These numbers, however, are not based on any official data provided by the clubs or MLS itself.