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Real Salt Lake are $5 million richer thanks to a tax loophole

Related Topics: Real Salt Lake

The taxpayers of Salt Lake County, Utah, financed part of the construction of Rio Tinto Stadium, the home of MLS franchise Real Salt Lake, in 2011 with $11 million in public bonds. It was that very facility which has been used to skim millions from those same public coffers.

According to Lee Davidson of The Salt Lake Tribune, Real front office personnel worked out a deal with the former mayor of Sandy, Utah, to cut the property tax on Rio Tinto Stadium in half back in 2012. Real Salt Lake pay those taxes annually, and as a result have saved $5 million thus far.