Austin FC has won approval to become Major League Soccer's 27th team in 2021. Don Garber, the league's commissioner, made the announcement Tuesday at a downtown Austin music venue.

"We are so excited to have Austin be our 27th team," Garber said. "Austin is a perfect fit for MLS ... and MLS is a perfect fit for Austin."

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Anthony Precourt, a California-based investor, will be club's majority owner, the Austin American-Statesman reported.

Precourt told the paper that he plans to announce local investors soon.

“We will shortly be announcing that we’ll be welcoming in local Austin partners into our ownership group,” Precourt said. “I’ve had very productive conversations over the last year, and we have very strong interest in a great lineup of local Austinites that will be part of this going forward.”

Tuesday's launch party, which drew about 600 people, also featured remarks by Austin Mayor Steve Adler, Pro Soccer USA reported. He and other attendees sported scarves with the club's black-and-green logo.

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“It is one of my prouder moments,” Adler said. “You get elected to be mayor and you have a real short time that you have to give to that position. You want to do big things. You want to do things that will fundamentally enhance and improve the quality of life. This is a big thing, and I’m proud to be part of it.”

The Austin FC soccer franchise is set to launch at a 20,000-seat stadium that will sit on the city-owned McKalla Place tract of land in North Austin, the American-Statesman reported. Austin recently signed a lease with Precourt to provide land for the privately funded $225 million stadium.

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This coming season, FC Cincinnati will become the league's 24th team, with clubs in Miami and Nashville scheduled to join in 2020. MLS started in 1996 with 10 teams.

The Associated Press contributed to this report.