"When you consider the upside the project will quickly bring to the St. Louis economy and our quality of life, and balance that with the significant private dollars invested combined with operating costs and start-up risks, the group simply feels it needs some degree of public participation to make this work."

Since the results of the April 4 vote, the Edgerley group has had informal discussions with various parties about finding a way to bridge the funding gap. Among them was the concept of non-profit status for the stadium - as opposed to having the city or another governmental entity owning the venue.

While confirming such discussions took place, Woodcock said they never got very far.

"The (non-profit) idea was discussed by some people locally and shared with the group," he said. "The group is open to considering new ideas and welcomed the creative thinking, but it quickly became apparent the idea would be too complex and difficult to explore. In the end, it just wouldn’t work."

Major League Soccer is expected to award the first two (of four) expansion teams at its league meetings in early December. Those teams would begin play in 2020.