Austin, PSV Making Progress on Austin MLS Stadium Contract

Austin FC stadium rendering

Discussions on an Austin MLS stadium contract are making progress, according to Austin and Precourt Sports Ventures officials. 

Last month, the Austin City Council approved the term sheet for a McKalla Place land lease, clearing the way for Columbus Crew SC investor-operator Anthony Precourt to finance a $200 million MLS stadium at the city-owned site. Precourt’s PSV is working to move the Crew to Austin as early as the 2019 MLS season, but the process of converting the term sheet into a finalized lease must be completed.

It appears that Austin and PSV have made progress since the August 15 vote by the city council. There is still some work that has to take place, but officials from both PSV and the City of Austin believe that discussions will continue to progress over the coming weeks, and there have been no apparent obstacles thus far. More from the Austin American-Statesman:

A lot of fine-tuning was required because there were so many changes to the original term sheet presented to council members.

“We have begun drafting the lease and development agreement,” said David Green, media relations manager for the city. “Thanks to the approved term sheet being so detailed, we anticipate making good progress on it during the month of September.”

MLS lobbyist Richard Suttle, who works for PSV, said there have not been any significant hang-ups.

“The drafting schedule is on target, and I think we may see something by the 18th, and then we’ll look to red-line it,” Suttle said. “We hope it can all be wrapped up by early October.”

The Crew’s potential relocation is not set in stone at this point, and the two sides still have to convert the term sheet into a final agreement. However, if the plans move forward, it is anticipated that the new stadium at McKalla Place could open in time for the 2021 MLS season. If the Crew moves in time for next season, it would play at least two years at a yet-to-be-determined venue in the Austin area while awaiting the completion of the new stadium.

Rendering courtesy Precourt Sports Ventures.

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