Wed Apr 16 19:25:05 2008

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'Quakes close to stadium deal

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San Jose, CA (Sports Network) - Pending formal approval from the San Jose city council next month, Lew Wolff, the owner of Major League Soccer's Earthquakes franchise, has reached a financial agreement with city officials on a $132 million deal that sets the stage for a stadium as early as 2010, according to a report in the San Jose Mercury News.

"If and when we pull it off, it is going to make me feel - well, at my age, that would be a great accomplishment," the 72-year-old Wolff told the Mercury News. "It would cap off a long time of development in San Jose."

According to terms of the deal, Wolff and his partners would pay $132 million for 66 acres with about 18 of those being set aside for the 18,000-seat soccer stadium and parking. The city bought the land in 2005 for $81 million.