Precourt Sports Ventures has cleared a major hurdle in its bid to move the Columbus Crew to Austin, Texas.
The Austin City Council voted 7-4 to approve a term sheet agreed to by the city and PSV, one that outlines details for a $200 million, 20,000-seat stadium to be built at McKalla Place, a city-owned 24-acre site in north Austin.
The vote authorizes the negotiation and execution of agreements with PSV for construction, lease, and occupancy of the venue with the goal of completing construction in time for the 2021 MLS season.
"Precourt Sports Ventures [PSV] is extremely pleased that Austin City Council has voted to authorize negotiations and execution of agreements with PSV for a privately funded Major League Soccer [MLS] stadium and park at McKalla Place," PSV said in a statement.