Robert and Jonathan Kraft issued a statement after University of Massachusetts officials broke off talks with the Kraft Group about building a soccer stadium near the UMass Boston campus.
The Krafts also released images of the proposed stadium.
The talks ended amid concerns from public officials about traffic concerns, accommodating a neighbor, the Boston Teachers Union, and a lack of public input in the discussions.
“In 2015, we were invited to put together a stadium proposal for the former Bayside Exhibition Center site. Since then, we have invested millions of dollars and thousands of staff hours to design and structure a venue that would benefit UMass Boston, the City of Boston and serve as an asset to the surrounding communities, with an operating plan that would benefit all local constituencies. We were committed to a fully-funded, privately-financed stadium that would have totaled an investment in excess of $250 million. There was also a full-value land lease to UMass that would have provided annual payments to the university. As is the case with any development opportunity, there were numerous hurdles to overcome and we regularly adjusted our plans to cater to the needs of the project. Unfortunately, and for reasons beyond our control, it has been determined that this project is not feasible to pursue on this site at this time. It is our goal to continue to seek development opportunities where we can invest in a soccer specific stadium that will benefit its surrounding communities while giving our fans and our players a venue they will be proud to call home for generations to come.”