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Closing Bell

MLS Stadium Gets Key Approval From Austin City Council

Austin "appears to have landed" an MLS team after the City Council today "approved the McKalla Place deal" for a stadium. The agreement "paves the way" for Crew Owner Anthony Precourt to "begin financing an estimated" $200M venue on the 24-acre tract of city-owned land. Precourt "aims to have the team playing in the Austin area next year." The council voted 7-4 in favor of the stadium plan. Council member Ellen Troxclair "proposed raising the rent price for Precourt Sports Ventures from $550,000 a year to $958,720," but her amendment failed (STATESMAN.com, 8/15).

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