RACER Trust, Ultimate Soccer Arenas Reach Agreement on Deal for Land in Pontiac, MI

PONTIAC, MI (04/17/2013)(readMedia)-- The RACER Trust, Ultimate Soccer Arenas and GTS Holdings have come to terms on a sale agreement that will enable expansion of a popular regional soccer and lacrosse complex.

GTS Holdings will acquire land for Ultimate Soccer Arenas totaling just over 14.6 acres. The parcels are along Centerpoint Parkway, behind and alongside the current Ultimate Soccer Arenas complex on East South Boulevard.

Ultimate Soccer Arenas, co-owned by George Derderian and Tom Korpela, and GTS Holdings will develop the land for youth and adult soccer and lacrosse including an all-weather, regulation synthetic turf field with bleacher seating for up to 2,500. A fourth indoor field also will be added. Work is expected to begin this summer and be completed in time for the fall sports season.

"This opportunity was literally right next door, and we're very pleased that Ultimate Soccer Arenas and GTS Holdings will have a chance to build upon their success and increase their presence in the community," said Elliott P. Laws, Trustee of the RACER Trust. "Ultimate Soccer Arenas and GTS Holdings have a growth strategy that ultimately will benefit other service-oriented businesses and the community as a whole, in addition to the new jobs that will be created as a result of the expansion. We wish them continued success."

The expansion is expected to result in more than 100 construction jobs and 20 additional full-time jobs at Ultimate Soccer Arenas, which currently has more than 100 full-time and contract employees.

"This new sports complex will enhance the quality of life for thousands of individuals in our region by offering an outstanding location where they can be more physically active," said Oakland County Executive L. Brooks Patterson.

"In addition, I'd like to give a big 'Thank you' to the RACER Trust, Ultimate Soccer Arenas, and GTS Holdings for investing in and creating jobs in Oakland County."

Already the largest indoor soccer facility in North America at 267,000 square feet, the facility will be the largest non-professional sports facility in the world - more than 335,000 square feet - once the building expansion is complete, according to Mr. Derderian.

"We're very excited about this expansion and what it will mean for the community and the many athletes who have helped us build the premier soccer facility in North America," Mr. Derderian said. "We intend to create the premier campus for soccer and lacrosse in the world, using state-of-the-art green building and lighting technology furnished and built by Michigan companies and contractors. We can't wait to get started."

In addition to the new competition space, Ultimate Soccer Arenas will add more than 600 parking spaces and plans to install additional fields.

"George, co-owner Tom Korpela and their team have built an outstanding facility, one that attracts tens of thousands of people to our community each year. Their success has made Pontiac a destination for competitors and their families, and we couldn't be happier for them," said Louis Schimmel, Pontiac's Emergency Manager. "Once again, Oakland County leaders working together with my team and the folks at Ultimate Soccer have brought to realization another major investment in the City. This project, along with others in the works, shows that confidence in the City is growing as a result of the City dealing with its fiscal problems."

The RACER Trust has completed nearly 30 property transactions since it was established in March 2011 to clean up and seek beneficial reuse for former General Motors locations in 14 states. Proceeds of completed transactions exceed $25 million, with more under contract.

Other former GM properties in Pontiac have been sold or are under contract, including the former Pontiac Assembly Plant and the former Fiero Assembly Plant, which after renovations and redevelopment is expected to attract a new business with 30 to 50 initial jobs.

Since opening in 2007, Ultimate Soccer Arenas has developed a strong reputation for the quality of its facilities and competition. More than 1 million people pass through the facility's doors annually, and about 20,000 use it 10 or more times a year.

In addition to youth soccer and lacrosse events, the facility is the site of high school and collegiate soccer and lacrosse, high school and college graduations, after-school education and various community and cultural activities. It also is the home field of the Michigan Bucks, a minor league amateur soccer team, and the Detroit Mechanics pro disc team.

About the RACER Trust: The RACER (Revitalizing Auto Communities Environmental Response) Trust was created to clean up and position for redevelopment properties and other facilities owned by the former General Motors Corp. before its 2009 bankruptcy. RACER is one of the largest holders of industrial property in the United States and is the largest environmental response and remediation trust in U.S. history. When the Trust was formed, it owned 89 properties in 14 states, principally in the Midwest and Northeast. The Trust, which is independent, was created by a settlement agreement in the U.S. Bankruptcy Court between the U.S. Government, the 14 states where the former GM properties are located, and the St. Regis Mohawk Tribe, which owns land adjoining property in Massena, NY. For more information, please visit www.racertrust.org.

About Ultimate Soccer Arenas: Ultimate Soccer Arenas is the largest indoor soccer facility in North America. It is located within a one-hour drive of 70 percent of the registered youth and adult soccer players in Michigan, and more than 7,000 local youth soccer players play league matches in the facility each year. It is the home field for the men's and women's soccer teams at Rochester College and the University of Detroit men's lacrosse team, as well the Michigan Bucks of the USL Premier Development League. It was the first arena to install anti-microbial artificial turf, effective in curtailing the spread of blood-borne pathogens. For more information, please visit www.ultimatesoccerarenas.com.