Austin | Q2 Stadium (Austin FC) | Complete

[freerover]

Originally Posted by enragedcamel

Any news on what they will do with Kramer Station?

Nope. The issue won't be forced until Broadmore can find the rest of the money for their station.

[GoldenBoot]

Austin FC sending out another survey...regarding suite, club and general ticket interest as well as amenities within and near the stadium.

Obviously, they're still tinkering with the final design.

[the Genral]

I completed that survey. They asked a lot of UT related questions.

[freerover]

Anthony Precourt started a new company to take over operation of Austin FC with new branding and a new ownership structure that will be more friendly to new investors.

[IMG]https://media.bizj.us/view/img/11382206/two-oak-ventures-logo*480xx727-969-117-0.jpg[/IMG]


Soccer shuffle: Austin FC under new parent company
By Daniel Salazar – Staff Writer, Austin Business Journal
https://www.bizjournals.com/austin/n...t-company.html

Two Oak Ventures LLC is the new parent company of Austin FC, the city's first major league professional sports franchise.

It replaces Precourt Sports Ventures as the official investor-operator of Major League Soccer's 27th franchise, although the top leadership remains effectively the same with Anthony Precourt at the helm as chairman and CEO of Two Oak.

In addition to the new name, Two Oak will have a new "ownership structure," according to Dave Greeley, president of PSV and now president of Two Oak Ventures.

Last year, Precourt Sports Ventures led the push to bring a MLS team to Austin with a stadium at North Austin's McKalla Place. Columbus Crew SC, PSV's original team, ultimately stayed in Ohio under local investors, and the league gave its blessing for a new, Precourt-led team in the Texas capital. Austin FC is set to kick off its first season in 2021.

With the political, legal and sports drama over the potential Columbus-to-Austin relocation in the rear view mirror, Precourt and company are now focused on courting investors and business partners for their team. St. David's HealthCare is already on board as the team's first corporate sponsor.

"We're a new club in a new city with a new agenda," Greeley said. "So it seemed to make a lot of sense to have a new parent company that would also represent the new ownership structure we're going to have."

"We want to find the right investors that have similar ideals and that can help us grow this club and the parent company," he added. "We want to create resources to win."

Greeley said The Butler Bros designed the Two Oak Ventures brand, as they did for Austin FC and the 4ATX Foundation. He said the company name is "somewhat of a double entendre," reflecting the intertwining oak trees in the Austin FC logo as well as the company's dual-focus on sports and entertainment.



Greeley said Austin FC represents a roughly $475 million enterprise between a roughly $240 million soccer stadium, a $35 million training facility and about $200 million for the MLS team itself. Forbes last year estimated the average MLS team was worth $240 million, ranging from Atlanta United's $330 million value to the Colorado Rapids' $155 million value. Those estimated values did not include stadiums or real estate.

"We have Austin FC as an unbelievable platform," Greeley said. "We've got to get that right and that'll create the launching pad for all of our future success."

"We think good soccer leads to good business," he added. "In turn, we think good business leads to good soccer."

Greeley said they could have other opportunities through their status as the only top-tier professional team in the market. For example, in the wake of Austin's ratings success during the FIFA Women's World Cup, Greeley said it could make sense to start a professional women's soccer team here.


Greeley said Austin FC is still on track for a stadium groundbreaking in September — the stadium site has been rezoned but the club still needs to clear some administrative hurdles. He also said Austin FC is considering a couple of places for a practice facility, aided by some early research into stadium sites in 2017 and 2018.

"We've been pressure testing this for a while so we're making a lot of advances on the training facility," he said.

And Greeley said the Austin FC headquarters near The Domain now employs about 40 people. That is expected to eventually grow to about 100.

[freerover]

I believe Austin FC responded to the 1st round of comments from the city. That or they got an extension to respond by the end of the month.

https://abc.austintexas.gov/attachme...V5gbfsXg%3D%3D

[GoldenBoot]

There is a meet and greet tomorrow @ Buford's tomorrow (happy hour). Anyone going?

[Novacek]

Originally Posted by freerover

I believe Austin FC responded to the 1st round of comments from the city. That or they got an extension to respond by the end of the month.

https://abc.austintexas.gov/attachme...V5gbfsXg%3D%3D

Yep, "update 2" is now up on Austin's permit site.

though it doesn't include comments yet (it says Comments Due Date July 31).

[ILUVSAT]

Originally Posted by GoldenBoot

There is a meet and greet tomorrow @ Buford's tomorrow (happy hour). Anyone going?

I'd love for someone to ask them about the forthcoming referendum on the November ballot. Are they worried? If it passes, how, exactly, will that affect the stadium (which would already be under construction - hopefully)?

One would think that there would be some legal loophole to protect this project (even though the proposed ordinance is directly attacking it). Is there some way the City could alter the ordinance to protect itself from lawsuits - which would definitely come their way if it passes?

[hookem]

Originally Posted by ILUVSAT

I'd love for someone to ask them about the forthcoming referendum on the November ballot. Are they worried? If it passes, how, exactly, will that affect the stadium (which would already be under construction - hopefully)?

One would think that there would be some legal loophole to protect this project (even though the proposed ordinance is directly attacking it). Is there some way the City could alter the ordinance to protect itself from lawsuits - which would definitely come their way if it passes?

Supposedly it won't affect already approved projects like the FC stadium:

https://soccerstadiumdigest.com/2019...ium-agreement/

However, seeing that recent article about Epstein still pumping hundreds of thousands into Fair Play Austin, I wonder what they have up their sleeve...

[freerover]

Originally Posted by hookem

Supposedly it won't affect already approved projects like the FC stadium:

https://soccerstadiumdigest.com/2019...ium-agreement/

However, seeing that recent article about Epstein still pumping hundreds of thousands into Fair Play Austin, I wonder what they have up their sleeve...

That's the political opinion. I don't think the city attorney has weighed in. I'm sure there would be a lawsuit if it passes and the city doesn't change the deal.

This is the part of the ordinance related to application.

Part 5. This ordinance shall apply to any sale, lease, conveyance, mortgage,
51 or other alienation of any City-owned land that is or will be used as a sports
52 stadium, sports facility, sports arena, and/or entertainment stadium,
53 entertainment facility or entertainment arena regardless of the effective date
54 of the sale, lease, conveyance, mortgage, or other alienation alienation, except
55 that this ordinance shall not apply to periodic events, such as the Austin City
56 Limits Music Festival or the Trail of Lights, that have been held since prior to
57 January 1, 2018.

The key will be defeating it at the polls.

[Novacek]

For those of you following the minutiae (like me) the site plan permitting has an update.

It looks like they actually split the site plan, into two "fast tracked" sections. F1 being erosion/sediment/grading (moving or not moving dirt) and F2 for everything else.

F1 still isn't quite approved, but it reads like its close. So hopefully that bodes well for a groundbreaking soon.

[freerover]

Originally Posted by Novacek

For those of you following the minutiae (like me) the site plan permitting has an update.

It looks like they actually split the site plan, into two "fast tracked" sections. F1 being erosion/sediment/grading (moving or not moving dirt) and F2 for everything else.

F1 still isn't quite approved, but it reads like its close. So hopefully that bodes well for a groundbreaking soon.

Nice find! Very smart move on their part.


Allegiant Airlines just signed on to be the sponsor for the Vegas stadium which I thought was surprising that they had the money but makes sense since they are based in Vegas and so much of their business is Vegas focused. I still think Delta will sponsor the Austin FC stadium but Indeed would be my backup.

Want to try to predict the sponsor and then have a winner once it's announced? I made a quick google form. Doesn't collect email addresses. Put your username if you want.

https://forms.gle/9YcELvfnN55QhioY9

[atxsnail]

Chris Bils of the Statesman has some pictures and video of the stadium preview at Austin FC hq. I can't link to twitter at work, but you can find them at @chrisbils

[Syndic]

Whoa, nice. Adding them here.

[Syndic]

[loonytoony]

Freaking gorgeous I love the gap between upper and lower levels. It should make for good airflow.

[Syndic]

Seems like the housing component is completely gone. Oh well.

Construction should be starting next month. Woot!

[Echostatic]

Originally Posted by Syndic

Seems like the housing component is completely gone. Oh well.

There was a housing component?

[loonytoony]

Originally Posted by Echostatic

There was a housing component?

Per the agreement it didn't have to be onsite.

"...to develop up to 130 affordable housing units on the southeast portion of the Site or other mutually agreed location."

I pulled this from the official term sheet: https://www.austintexas.gov/edims/do....cfm?id=302612

[Syndic]

I'm honestly kinda glad they're not trying to awkwardly wedge an apartment block onto the site. It'll be better if it's more open/less cramped.