City of Sacramento Mayor Darrell Steinberg's office says the name will stay the same, and the change-of-ownership plan will stay the same, but whatever financial wedge had divided minority owner Kevin Nagle and Managing Partner Warren Smith is gone.
Sacramento Republic FC will be purchased by Sac Soccer & Entertainment Holdings when and if Major League Soccer play begins.
The framework of the deal is the same as before, but some of the details have changed - though no one so far is saying what those details are.
Kevin Nagle's SSEH group submitted a proposal to MLS Tuesday, but did not include the Republic's logo.
The team expressed surprise and said Nagle's actions violated their agreements.
Steinberg arranged two days of meetings to bring the two sides together.
"By working together, we have the strongest bid and are committed to ensuring Sacramento Republic FC becomes the next MLS team,” the mayor said today.
Nagle said, in part, "It took longer than I had hoped, we’ve now reached our goal and delivered the result that Sacramento and Republic FC fans deserve."
Smith said, in part, "The principle terms we discussed today can result in a definitive agreement that will lead Sacramento Republic FC to Major League Soccer. Thanks to our fans, supporters and indomitable city, Republic FC will be Sacramento’s MLS team.”
Sacramento Republic FC will be added to the MLS bid and will return as the name of Sacramento’s potential MLS team.
Nagle and SSEH will continue with the MLS bid and a stadium at the downtown Railyards if the bid is accepted.
Both sides will work on legal and other documents in the coming weeks to finalize the deal.
MLS has said that it will announce two expansion team cities this year. Teams would begin play in 2020.