Man City’s $100m Major League Soccer goal

MANCHESTER City FC is teaming up with baseball club the New York Yankees to launch a new Major League Soccer club in the US.

The new team will be named New York City Football Club and expects to begin play in 2015. Financial details were not disclosed but the cost of buying the new team will be around $100m.

It will be majority-owned by Manchester City and represents the boldest step yet by any European football club to penetrate the US soccer market.

The new venture was announced by club officials in New York yesterday.

Don Garber, MLS Commissioner said: “We proudly welcome two of the most prestigious professional global sports organizations to Major League Soccer.

“This is a transformational development that will elevate the league to new heights in this country. The New York area is home to more than 19 million people­, and we look forward to an intense crosstown rivalry between New York City Football Club and the New York Red Bulls that will captivate this great city.”

Manchester City chief executive Ferran Soriano added: “New York is a legendary sports town, as well as a thriving global city with a rapidly expanding soccer fan-base.

“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.”

Manchester City will be the majority owner of the new club. As an investor, the Yankees will be an active member of the ownership group.

The two organisations have an existing commercial relationship through Legends Hospitality, LLC, an international entertainment, hospitality and marketing organization.

Hal Steinbrenner, managing general partner of the New York Yankees, added: “We look forward to the opportunity to work with Manchester City to create something very special for the soccer fans of New York – and to bringing another terrific team to this city for all sports fans to enjoy.”

The team is likely to be based at a new stadium near Flushing Meadows in Queens. While this is being built a temporary location will be identified. 

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