Hartford Business Journal

12 Hartford Business Journal • November 2, 2015 www.HartfordBusiness.com from page 1 The NASL doesn't make its startup costs public, but according to the Indianapolis Business Journal, launching a team can cost around $2 million, with annual operating costs close to, or higher than, that amount. Edward Angelillo, a trainer and owner of Farmington-based Advantage Bail Bonds, said he discussed a potential investment with Anderson, who he believed was raising money for an eventual NASL team, but never invested any funds. "I was going to unload some rental prop- erties," said Angelillo, who was interested in becoming a team trainer. "I was going to put $100,000 in." Angelillo said he might be interested in investing in the future and still thinks pro soccer is a good idea in Hartford. It's unclear what has happened to Keat- ing's investment, which he said was targeted at the initial MASL team as well as the future hopes of getting a NASL team. He declined to comment further about the matter. Duckett could not be reached for com- ment. Attempts to reach Anderson through his attorney and personal email account were unsuccessful. Confirmation of Keating's investment shows that Anderson and Duckett had secured at least some private investor money, though just how much isn't clear. The city of Hartford originally pledged to give the devel- opers $12 million for the stadium project. About $1.8 million was distributed to the developers, according to the Hartford Cou- rant, but the city is unsure what some of the funds were used for, which prompted a police and U.S. Attorney's investigation. A lawyer for the city council has also cast doubt on the veracity of a bank document Duckett provided the city indicating that a Florida investment group had $440 million in overseas funds available to develop Dillon Stadium. The U.S. Attorney subpoenaed City Hall two weeks ago for stadium-related communi- cations, to be reviewed by a grand jury. The investigation follows revelations of Duckett's previous conviction for embezzle- ment, which city officials say they did not know about before granting the former arena football player development rights. That rev- elation, and the investigation into missing funds that followed, killed the stadium's redevelopment prospects — and the city's chances of getting a team into the NASL — for the foreseeable future. Outgoing City Councilor Kenneth Ken- nedy Jr., who had been a supporter of the Dil- lon Stadium redevelopment proposal, said in an interview several weeks ago that he feels badly about "the carnage that has transpired" and that city government's reputation has suffered a black mark. Hartford's Development Director Thomas Deller resigned following the collapse of the stadium deal. "It looks like people are going to lose their job over this," Kennedy said. "I think there will be more." The XL Center was selling Hartford City FC tickets as recently as Oct. 28. But the MASL said last week — six days after City Hall received the subpoena — that it decided to remove the Hartford team from its schedule. "It was determined that the expansion organization in Hartford, Connecticut cannot move forward. The league has finalized terms of separation with Hartford City FC," MASL said in a brief written statement. The Hartford Courant reported last week that Duckett had relinquished his owner- ship stake in the team before the league announced its decision. The Courant also reported that Ander- son and Duckett are blaming each other for financial discrepancies, including an alleged failure to pay more than $300,000 to a Farm- ington architect for stadium design work. Michael Freimuth, executive director of XL Center operator Capital Region Develop- ment Authority, said funds from approxi- mately $15,000 in ticket sales through the XL Center will be refunded. Hartford City FC would have been required to pay the XL Center an upfront fee before each game, due 10 days in advance. CRDA members were concerned about the financial questions swirling around the stadium developers, according to minutes from CRDA's mid-October meeting. "Another issue is to make certain that the Dillon money that currently is being ques- tioned at City Hall is not being used to meet expenses at XL for the indoor team," the min- utes say. Freimuth said the MASL informed him that the league had met with another group interested in owning the indoor team, but Freimuth told the league CRDA may not be willing to rent them the XL Center so soon. "We just think, considering the situation, it's not a good time to launch it," Freimuth said, adding it's possible the league may field a Hartford team next year or later. Still active in the background is an ongo- ing suit by Civic Mind LLC, which was work- ing with the city on the Dillon Stadium proj- ect prior to PSMG's involvement. That group, headed by TJ Clynch, sued the city in late 2014, alleging the project was sto- len by PSMG. g The Culturally Competent Workplace A Conference on Diversity, Inclusion, & Productivity Thursday, November 19, 2015 Who Should Attend Business & Organization Leaders, Managers, and HR & Diversity Professionals Why Develop welcoming, cohesive, productive workplace Learn best practices from diversity experts Understand legal dimensions of diversity & inclusion Explore critical issues CCSU's Downtown New Britain Campus www.ccsu.edu/coned 860-832-2277 csterling@ccsu.edu Make CCSU Your Source for Expert Advice CENTRAL CONNECTICUT STATE UNIVERSITY CONTINUING EDUCATION CEO investment James Duckett (right) and Mitch Anderson bookend the star player of their now defunct indoor soccer team, Tommy Williams, who played soccer professionally in England. P H O T O | H B J F I L E

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