Boston Red Wings owner Mike Ilitch is seeking a $500 million stadium in downtown Boston that would be located in the same neighborhood as Fenway Park, his company said Thursday.
The deal would include a parking garage and restaurant.
The stadium, which would cost $400 million, is expected to open in 2019, a decade after Ilitch first proposed it.
Ilitch’s team owns the Boston Celtics, the Red Sox and the Wrigley Field Cubs.
Ilitches, who has also sold the Red Wings to businessman David Hopkins and has purchased the Redstone Arsenal and a minority stake in the Boston RedBirds, has been pushing to open a new sports venue in Boston.
The city has yet to get a new soccer stadium and is expected later this year to have an agreement in place with the NBA to begin construction on a new baseball stadium.
The ballpark would be in the Redwood City neighborhood of Fenway.
Ilives team is the fifth richest in the United States and is owned by private equity firm Blackstone Group.
He also owns the Detroit Tigers, Boston Celtics and Wrigle Field Cubs teams.
The sports team would have a major sponsor.
The Boston Globe and the Globe and Mail first reported the plan.
Iliques proposal to build a new team at the ballpark would cost at least $500,000, according to the report.
It would have to include a $300 million parking garage for the team, restaurants and other facilities, according the report, which did not specify what those facilities would be.
Ilikis group is one of the wealthiest owners in the world, Forbes magazine reported in January.
The Globe and other outlets have reported that the city is likely to get the Boston-based team for about $1 billion, a figure that includes the estimated cost of a parking lot.
In June, the city said it would spend $1.5 billion to build the ballpark, and the state would pay about $400,000 a year to lease a portion of it.
The team has not had a season opener since 2005 and was expected to play only once before its move to Fenway in 2016.