INDIANAPOLIS — Indy Eleven and Eleven Park Investment Group announced Wednesday that a Fort Wayne entrepreneur is joining as a co-owner of the team and investor in private development on the proposed soccer stadium at a site on the southwest corner of downtown Indianapolis.
Chuck Surack joins as Indy Eleven and developer Keystone Group are continuing to push for Eleven Park development to move forward.
"I just wanted to make a statement that I believe in the Indy Eleven team," Surack said. "I believe in Keystone and what they are doing."
Indianapolis Mayor Joe Hogsett said the city is no longer working with the developer to build the Indy Eleven soccer stadium because the city is looking at a new site for a potential soccer-specific stadium in an effort to bring an expansion Major League Soccer team to the Circle City.
"It is clear to me that Indy Eleven and Eleven Park represent an unprecedented opportunity for downtown Indianapolis to finally embrace the kind of riverfront development that is transforming Fort Wayne and other cities across the country," Surack said. "The strong foundation of community and fan support, coupled with the incredible chance to transcend sports through neighborhood redevelopment, is why I am joining this prominent group of business leaders from across the state. As a proud Hoosier, I am committed to investing my resources to support Indiana’s growth with like-minded people who have our state’s best interests at heart."
Surack founded and led the Fort Wayne-based company Sweetwater for more than three decades. He sold part of his company to private equity in 2021 and still serves as chairman.
Throughout his career, Surack and Surack Enterprises have founded and invested in dozens of additional business ventures.
"Chuck Surack has changed our state for the better by consistently identifying opportunities for growth and investing his tireless energy into seizing those moments. That is why we are thrilled by his personal commitment to the growth of professional soccer through the Indy Eleven and to the vision of Eleven Park as a neighborhood investment," said Ersal Ozdemir, founder and owner of Keystone Group and Indy Eleven. "Chuck shares in our vision for the world’s game in Indiana, and our belief that by building more than just a stadium, Eleven Park will have lasting impact on Indianapolis as a whole."
"It’s not just about the soccer stadium. If you have seen the plans, it’s a pretty amazing billion-and-a-half-dollar project, and who would not want to see that developed in their community?" Surack said.
Along with Surack and Ozdemir, other investors include the Ricker family, Salin family, Traylor family, Hageman family, Jeff Laborsky (The Heritage Group), Fred Merritt (LFM Investments.), Brian Bauer (IU Health) and Don Gottwald (Speedring Capital).
“I believe in Ersal and his team and the Keystone project. It’s already approved — I mean, the land is already. I’ve been there last week twice. It’s on the path to getting done," Surack said.
The City of Indianapolis filed a resolution with the Metropolitan Development Commission to create a professional sports development area (PSDA) at 355 E. Pearl St. in downtown Indianapolis. That location is just east of Gainbridge Fieldhouse.
The new plan will go before the City-County Council on May 13. The city has to be ready to file its plan to the state by the end of June, before going back to the MDC for final approval before June 30, 2024.
To bring an MLS team to Indianapolis, the city must have a soccer-specific stadium that is promoted and financed by the city and a competent ownership group to pay the MLS expansion fee. Last May, the city of San Diego reportedly paid a $500 million expansion fee to get a team.
13News also confirmed that members of the Indy Democratic Caucus met with Tom Glick Wednesday, according to the caucus spokesperson. Glick is the man reportedly behind the rival investor group Hogsett is working with.
It’s not clear who initiated the meeting or where they met.