The Anthony Precourt-led Two Oak Ventures will serve as the parent company and ownership group that operates Austin FC and affiliated assets, including its upcoming stadium.
Expansion Austin FC is set to begin MLS play in 2021 as the league’s 27th team. The club will play home matches at an upcoming $242 million stadium, to be built at McKalla Place in North Austin with private funds.
Two Oak Ventures will serve as the parent company and ownership group that will operate the club and its affiliated assets, including the new stadium and a planned training academy, the St. David’s Performance Center.
The newly formed Two Oak Ventures entity will formally replace Precourt Sports Ventures. Two Oak is a privately held investment and management firm focused primarily on the sports and entertainment business and other related entrepreneurial and strategic ventures. Precourt will serve as Chairman and CEO of Two Oak Ventures, as well as performing the same roles for Austin FC. Dave Greeley, Precourt’s lead executive on the MLS2ATX effort and the founding of Austin FC, will move into the role of President of Two Oak Ventures. Greeley will oversee all aspects of Two Oak in conjunction with Precourt. Greeley has partnered with Precourt since his initial investment in MLS in July 2013 and led the company’s recent formation in Austin, including its public-private partnership with the City of Austin for its McKalla Place venue. Joining Precourt and Greeley at Two Oak Ventures is Chief Financial Officer Lori McKirnan. McKirnan, a certified public accountant, has an accomplished background as a finance executive with Columbus Crew SC and the Atlanta Falcons, among other leadership positions.
“As Austin FC’s new parent company, Two Oak Ventures’ principal focus is building a vibrant MLS club that unites and instills pride in the City of Austin, and this proven executive team will continue to be critical to our success,” Precourt said. “Given MLS’s growth trajectory, to be successful and compete for championships and to realize our full ambition as a soccer club, we have to be more than a soccer club. Two Oak will help us realize that vision. Bringing in strategic, local investors will also play a key role in this evolution. We expect to announce in the near term a prominent group of local Austinites who will join Two Oak Ventures.”
Present initiatives of Two Oak Ventures include:
- Launch of Austin FC’s first competitive season in 2021
- Design and construction of the 100% privately financed $242 million MLS stadium at McKalla Place with its partner, the City of Austin
- Acquisition, design, development, and construction of the $35 million training facility for Austin FC
- Strategic real estate developments tied to the MLS stadium at McKalla Place
- Other strategically aligned ancillary business ventures and investments
“Bringing major league sports to a dynamic market like Austin and becoming part of this community has been the opportunity of a lifetime,” Greeley said. “With Two Oak’s local presence and ownership and our commitment to Austin, we have an unbelievable opportunity to build Austin FC into an MLS powerhouse and to pursue other new and exciting ventures in our great city.”
The name “Two Oak” is inspired by the Austin FC crest (logo) that shows two intertwining oak trees representing the Club and the City of Austin as one. Its two core business verticals of sports and entertainment also inspire the company name. The logo is intended to be a natural part of the brand family, have a clean and structured look, and convey sophistication and professionalism. The type in the logo is the same one used in the badge for Austin FC, creating a strong connection to the Club. The border around the type is Austin FC’s Bright Verde color and frames Two Oak Ventures, giving it more prominence and making its unique name the hero of the visual identity. Austin-based The Butler Bros. designed the Two Oak logo (shown above), as the agency did with the brand work for Austin FC and 4ATX Foundation.
Two Oak Ventures is based in Austin, TX. In addition to the near-term announcement of local Austin investors, Two Oak will be looking to post jobs for local residents.
Stadium rendering courtesy Gensler.
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