HAMTRAMCK, Mich. – The Detroit City Football Club paid off debts owed in revenue sharing agreements to renovate the historic Keyworth Stadium this week -- two years ahead of schedule.
Agreements were made in 2016 that the money would be paid back in six years.
When the soccer team moved to Keyworth in Hamtramck, it utilized the Michigan Invests Locally Exemption to fix up the stadium.
DCFC wanted to raise $400,000 to $750,000 to improve the stadium. Renovations included structural improvements to the grandstands, as well as repairs to bleachers, locker rooms, restrooms and lighting.
The 109 day campaign raised $725,500 in pledges from 499 verified Michigan investors.
“The community investment campaign was a tremendous success thanks to our community and supporters,” said Todd Kropp, DCFC co-owner and COO. “Investors helped us breathe new life into Keyworth Stadium and establish a solid foundation on which we will continue building DCFC. We are pleased to be in a position to pay back the investments earlier than projected and to have delivered a solid rate of return to those that took a chance in supporting our project.”
The Detroit City season begins on the road Feb. 28 with a game against Los Angeles before the home season begins March 21 at Keyworth.
It will be the team’s first season as a professional team.
DCFC was approved by U.S. Soccer in 2019 to play professionally in the National Independent Soccer Association and a women’s team will play its first season this year.