Precourt Sports Ventures Rebranding To Two Oak Ventures
Precourt Sports Ventures is "no more," as the investor group that operates MLS expansion club Austin FC is "changing its name to Two Oak Ventures, LLC, the first of several expected business-oriented moves over the coming months," according to Chris Bils of the AUSTIN AMERICAN-STATESMAN. Anthony Precourt will remain CEO of the group. The Two Oaks name is a "nod to the Austin FC crest, which features a pair of intertwined live oak trees." The rebrand is a "departure from the Precourt Sports Ventures moniker that was established before Precourt bought into MLS" in '13 with the Crew. Besides operating Austin FC, Two Oak Ventures will "build and lease" the team's 20,500-seat, $242M privately-funded stadium. Austin FC also has "plans to build a training facility, the St. David Performance Center," for about $35M at a "to-be-announced site" in Austin. Local investors in the team are "expected to be announced soon" (AUSTIN AMERICAN-STATESMAN, 7/18).