courtesy Gensler/MLS2ATX

City Council approves Major League Soccer stadium proposal

August 15, 2018 - 8:27 am
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AUSTIN (KJCE) -- Major League Soccer is one step closer to reality in Austin, after City Council voted Wednesday afternoon to direct City Manager Spencer Cronk to negotiate and execute an agreement with Precourt Sports Ventures.

The vote was 7-4, and followed nearly five hours of discussion and amendments for the 24-acre city-owned site at McKalla Place in North Austin.

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Council members Pool, Houston, Troxclair, and Alter voted against the proposal.

Under the agreement, Precourt will pick up the cost of building the stadium - estimated at $200 million - which will then be given to the city and leased back to Precourt. The stadium is planned to be ready in time for the 2021 MLS season; the team is expected to play in the Austin area next year.

This is a developing story and will be updated.

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