There has been very little said publicly over the last six months regarding the Harrison stadium however that does not mean very little has been accomplished. In fact a lot has been accomplished as most of the meaningful legal documents have been completed or are close to completion. Once these documents are signed and approved by the Harrison Town Council, the Town will make a formal application to the Hudson County Improvement Authority to request a bond sale. We originally aimed for having this done in November and wanted to make an announcement at the MLS Cup however we ran into a funding problem on the parking decks, which needed to be resolved before the Town, could make its application. During December we worked to find a solution and the good news is we think we have one, however a study must be completed on the commuter traffic via PATH in Harrison before we can confirm a final solution. The opening of the PATH station in lower Manhattan really helped and the study should be completed by the end of January.

Together with our partners (Town of Harrison, HCIA and Advance Realty) we are committed more than ever and focused on selling the bonds and breaking ground some time by the end of 2004. The Mayor and Redevelopment Authority is still confidant they can get the bond sale and close the financing by the middle of 2004. Depending on when the financing closes will drive the ground breaking and obviously when we break ground will depend on whether we open in 2006 or 2007.

It has been three years as of December 10 that we have been pursuing a public/private partnership to build the MetroStars their own home. Despite major obstacles starting with the September 11 terror attacks, a down economy, numerous attempts to ambush the project from outside groups and other obstacles, I can confidently say that the resolve and commitment from the Town of Harrison, the HCIA, Advance Realty Group and The MetroStars is stronger than ever and our collective goal is to close this deal and make it a reality in 2004.

Publicly funded projects such as this one are not easy to secure in any part of the country and they are particularly difficult in the New York/New Jersey area as most of the other major sports teams have been at it a lot longer than we have can attest. Very few understand the difficulty of getting a project like Harrison done.

With about 100 days until our home opener (April 17 vs. DC United), we are very excited about the upcoming season and the future of MLS. In the meantime, I will continue to communicate with you on team and stadium news over the next few months. We appreciate your support and look forward to sharing a successful 2004 campaign.