The CEO of one of the state’s major aerospace manufacturers made a personal investment in the effort to bring a pro soccer team back to Hartford, the Hartford Business Journal has learned.
Get Instant Access to This Article
Subscribe to Hartford Business Journal and get immediate access to all of our subscriber-only content and much more.
- Critical Hartford and Connecticut business news updated daily.
- Immediate access to all subscriber-only content on our website.
- Bi-weekly print or digital editions of our award-winning publication.
- Special bonus issues like the Hartford Book of Lists.
- Exclusive ticket prize draws for our in-person events.
Click here to purchase a paywall bypass link for this article.
The chief executive of one of the state's major aerospace manufacturers made a personal investment in the effort to bring a pro soccer team back to Hartford, the Hartford Business Journal has learned.
Neal Keating, CEO of publicly traded Bloomfield aerospace manufacturer Kaman Corp., confirmed in an interview that he invested in the minor league soccer franchise, Hartford City FC, which has now been sidelined after the Major Arena Soccer League (MASL) booted the team from the league following news of a federal probe into the team's founders.
“I became involved with Hartford City Football Club LLC in March 2015 in a passive role as a 5-percent minority investor because I believed then as I do now that a professional soccer team would be great for Hartford and good for the region,” said Keating, who was not involved in the team's management.
Keating would not reveal the dollar amount of his investment, but Dillon Stadium developer Mitchell Anderson of Premier Sports Management Group (PSMG), who he knew “from the soccer community,” convinced him to invest in the team, Keating said. Anderson, a Farmington resident, has been a coach for various local youth teams. He and his business partner, James Duckett of Black Diamond Consulting Group, are now under scrutiny as part of an investigation by the U.S. Attorney's Office into missing funds allocated by the city to the developers, who won the rights last year to build a $40 million soccer stadium in Hartford. No charges have been filed.
Duckett was listed as majority owner and Anderson president and general manager of the indoor soccer team Hartford City FC, which was slated to play its first game Nov. 8 at the XL Center, before the MASL removed the team from its 2015-2016 schedule. Anderson and Duckett hoped to eventually earn the team entry into the more prestigious outdoor North American Soccer League (NASL), which has higher startup costs, once Dillon Stadium was complete.
But the city council refused to sign a long-term stadium lease with Duckett and Anderson, and the city has indicated it will cancel its development contract for Dillon.
The NASL doesn't make its startup costs public, but according to the Indianapolis Business Journal, launching a team can cost around $2 million, with annual operating costs close to, or higher than, that amount.
Edward Angelillo, a trainer and owner of Farmington-based Advantage Bail Bonds, said he discussed a potential investment with Anderson, who he believed was raising money for an eventual NASL team, but never invested any funds.
“I was going to unload some rental properties,” said Angelillo, who was interested in becoming a team trainer. “I was going to put $100,000 in.”
Angelillo said he might be interested in investing in the future and still thinks pro soccer is a good idea in Hartford.
It's unclear what has happened to Keating's investment, which he said was targeted at the initial MASL team as well as the future hopes of getting a NASL team. He declined to comment further about the matter.
Duckett could not be reached for comment. Attempts to reach Anderson through his attorney and personal email account were unsuccessful.
Confirmation of Keating's investment shows that Anderson and Duckett had secured at least some private investor money, though just how much isn't clear. The city of Hartford originally pledged to give the developers $12 million for the stadium project. About $1.8 million was distributed to the developers, according to the Hartford Courant, but the city is unsure what some of the funds were used for, which prompted a police and U.S. Attorney's investigation.
A lawyer for the city council has also cast doubt on the veracity of a bank document Duckett provided the city indicating that a Florida investment group had $440 million in overseas funds available to develop Dillon Stadium.
The U.S. Attorney subpoenaed City Hall two weeks ago for stadium-related communications, to be reviewed by a grand jury.
The investigation follows revelations of Duckett's previous conviction for embezzlement, which city officials say they did not know about before granting the former arena football player development rights. That revelation, and the investigation into missing funds that followed, killed the stadium's redevelopment prospects — and the city's chances of getting a team into the NASL — for the foreseeable future.
Outgoing City Councilor Kenneth Kennedy Jr., who had been a supporter of the Dillon Stadium redevelopment proposal, said in an interview several weeks ago that he feels badly about “the carnage that has transpired” and that city government's reputation has suffered a black mark.
Hartford's Development Director Thomas Deller resigned following the collapse of the stadium deal.
“It looks like people are going to lose their job over this,” Kennedy said. “I think there will be more.”
The XL Center was selling Hartford City FC tickets as recently as Oct. 28. But the MASL said last week — six days after City Hall received the subpoena — that it decided to remove the Hartford team from its schedule.
“It was determined that the expansion organization in Hartford, Connecticut cannot move forward. The league has finalized terms of separation with Hartford City FC,” MASL said in a brief written statement.
The Hartford Courant reported last week that Duckett had relinquished his ownership stake in the team before the league announced its decision.
The Courant also reported that Anderson and Duckett are blaming each other for financial discrepancies, including an alleged failure to pay more than $300,000 to a Farmington architect for stadium design work.
Michael Freimuth, executive director of XL Center operator Capital Region Development Authority, said funds from approximately $15,000 in ticket sales through the XL Center will be refunded. Hartford City FC would have been required to pay the XL Center an upfront fee before each game, due 10 days in advance.
CRDA members were concerned about the financial questions swirling around the stadium developers, according to minutes from CRDA's mid-October meeting.
“Another issue is to make certain that the Dillon money that currently is being questioned at City Hall is not being used to meet expenses at XL for the indoor team,” the minutes say.
Freimuth said the MASL informed him that the league had met with another group interested in owning the indoor team, but Freimuth told the league CRDA may not be willing to rent them the XL Center so soon.
“We just think, considering the situation, it's not a good time to launch it,” Freimuth said, adding it's possible the league may field a Hartford team next year or later.
Still active in the background is an ongoing suit by Civic Mind LLC, which was working with the city on the Dillon Stadium project prior to PSMG's involvement.
That group, headed by TJ Clynch, sued the city in late 2014, alleging the project was stolen by PSMG.
Read more
Hartford sued over $12M Dillon Stadium project
Football player takes over delayed Hartford stadium project
Flying Strong: Timely deals, diversification, China help Kaman fend off choppy headwinds