A term sheet has been finalized for a renovation of Memorial Stadium with construction groundbreaking targeted to begin in mid-2025.
Rendering showing what a renovated Seattle Memorial Stadium could look like once it's reconstruction is complete. In an interview with KOMO News, leaders for all the entities agreed that the final term sheet is designed in a way to pour revenue back into the maintenance and operation of the brand new stadium, making it a true nonprofit entity upon its potential completion in late 2026.
“That is a real agreement that we're now going to advance as opposed to we're thinking about doing a project together, we're now at the phase where this is a real partnership,” said Seattle Center Director Marshall Foster. “Now, we have a essentially a nonprofit approach.” There will also be a joint oversight board created to handling scheduling agreements, and activation, as the new stadium is going to be more open to incorporating events at the Center of the east side near the International Fountain.
The final documentation needs to be approved by the SPS Board and Seattle City Council this summer. If that happens, Horita said groundbreaking would begin after high school graduations in 2025.about the 8,000-seat new stadium being ready as a venue for the 2026 World Cup, but Foster is now tempering those expectations. He and Horita both said the target competition date is fall of 2026, but “to be to be practical, given how much more we have to work through on the permitting and construction.
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