New York City will have its first Major League Soccer team in 2015. The team will be called the New York City Football Club, and the New York Yankees and Manchester City Football Club both will share in its ownership.
"We proudly welcome two of the most prestigious professional global sports organizations to Major League Soccer," Major League Soccer (MLS) commissioner Don Garber said on Tuesday.
While a home stadium hasn't been locked for the team, the 20th MLS team is expected to begin competing in the 2015 season. The MLS confirmed on Tuesday that Manchester City would spend close to $100 million to buy the rights to the expansion team, according to the New York Times.
Manchester City will have the majority stake in the new football club, while the Yankees will own approximately a quarter.
The shared ownership reflects a strengthening tie between Manchester City and the New York Yankees. Man City plays against Chelsea on Saturday at Yankee Stadium; Legends Hospitality, the Yankees' stadium concession business, has a contract to provide services at Man City's home matches.
"New York is a legendary sports town, as well as a thriving global city with a rapidly expanding soccer fan base," Man City CEO Ferran Soriano, who will fill the front office positions in the new club, said. "We are thrilled to contribute to the energy and growth of New York City soccer. In the Yankees, we have found the absolute best partner for developing a world-class sports organization and a winning team that will carry the New York City Football Club name with pride."
Early speculation suggests that the New York City club may play its inaugural season at Yankee Stadium. Manchester City hopes to build a new stadium in Flushing Meadows-Corona Park, where the new club would then play upon the stadium's completion.
