Austin's envisioned Major League Soccer franchise now holds a signed lease for its new home, but move-in day appears to be more than two years away.

After nearly 15 months of debate and drama over the possibility of an MLS club becoming Austin's first major league sports franchise, City Manager Spencer Cronk signed a stadium lease and development agreement with the Anthony Precourt-led ownership group, Precourt Sports Ventures. Cronk acted at the behest of the City Council, which authorized him to negotiate with Precourt Sports Ventures on the terms to bring a 20,000-seat soccer stadium to a city-owned tract of land in North Austin.

In an interview Wednesday with the American-Statesman, Precourt said the agreement will be the first of several MLS-related announcements over the coming weeks and months.

“We expect Major League Soccer and our commissioner to visit the marketplace in the very near future,” Precourt said. “This is the final piece of the puzzle to launching Austin FC. We’re proud to say today that we will begin construction of a stadium at McKalla Place and be on track to launch Austin FC in 2021.”

Under the agreement, PSV will privately finance the stadium at McKalla Place — estimated to cost about $225 million. The city will own the facility and lease it back to the team, with PSV agreeing to pay a total of $8.25 million in rent over a 20-year lease term. PSV also will give $3.64 million to Capital Metro over 15 years to be used for transit facilities.

As part of the deal, PSV will not have to pay property taxes on the 22-acre tract near the Domain in North Austin. The stadium is slated for completion in the spring of 2021.

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Mayor Steve Adler cheered the signing of the lease contract, calling it a "really good deal" because no government money is being put up to finance the stadium's construction. In contrast, Nashville is putting up $225 million in revenue bonds to fund construction of a 30,000-seat MLS stadium.

"From a financial standpoint, this is the best such deal for a major league team that anybody has seen," Adler said.

Precourt said he expects MLS Commissioner Don Garber to visit Austin in January for a public appearance and celebration. PSV also plans to announce the opening of a new office, as well as staff hirings and the choice of a construction manager from among a group of finalists.

The planned Austin franchise also has “made strides,” Precourt said, in its efforts to build a new training facility, which will cost about $30 million. The complex will likely be at a private site, he has said.

“We’ve had a number of irons in the fire over the last year and a lot of initiatives underway,” Precourt said. “We’re thrilled. We’ve got a pipeline of really exciting information and news to come in the new year.”

MLS has not set an official launch date for Austin FC. Although the news release issued Wednesday by PSV and league officials said MLS is determining whether the franchise will begin play in 2020 or 2021, Precourt made clear that his preference is for 2021.

“We just think launching in a new stadium provides the most excitement for our fans,” he said. “That’s the plan. We’ve had discussions with MLS, and that statement kind of pairs or mirrors what Don Garber has mentioned publicly. I think MLS and Precourt Sports Ventures are strongly leaning toward launching in a new stadium at McKalla Place in 2021.”

The final 190-page stadium contract built upon terms that were approved by a 7-4 City Council vote Aug. 15. Precourt announced in October 2017 he was exploring moving the PSV-owned Columbus Crew SC from Ohio to Austin.

The team that will launch in Austin will not be the Crew. That original MLS franchise is set to stay in Ohio's capital city, directed by a new ownership group led by Cleveland Browns owners Jimmy and Dee Haslam.

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“We’re reaching a very elegant solution and a very happy outcome for both Columbus and Austin,” Precourt said. “I’m impressed with the progress that the Save The Crew movement has made, and the new investor-operator has very ambitious plans for a downtown stadium. They’ve lined up support from city, county and state. I’m very, very happy for Columbus and the fact that Crew SC remains in Columbus. We’re really excited to be launching a new club in Austin.”

An initial cost estimate for the Austin stadium was closer to $200 million, but a news release Wednesday from PSV said the cost will be $225 million. Precourt said the increase is tied to efforts to provide additional shading for fans and enhance the game day experience.

Not everyone is happy with the stadium deal, though. City Council Member Leslie Pool, who represents the district where the stadium will be built, said she is concerned about provisions in the contract that allow Precourt to cancel the lease if MLS does not authorize a team in Austin by March 1.

The contract also states that Precourt can pull out of the deal with no penalty if any voter referendum or initiative is passed that PSV determines would undermine the project.

Three months ago, the political action committee IndyAustin launched a petition effort to challenge the stadium deal. The group's petition calls for an ordinance that would require an election on any sale or lease of city-owned land for a sports stadium or entertainment venue as well as the approval of the plan by a City Council supermajority.

IndyAustin leaders have said they hope to force an election on the issue in May.

Precourt also could cancel the stadium deal if the Travis Central Appraisal District rules that the land at the stadium site is taxable.

Pool said her office will focus on communicating with residents in neighborhoods around the stadium site to make sure that their questions are answered and that all aspects of the deal are vetted.

"My goal, of course, will be to ease the eventuality as much as I can so that we can all benefit from the stadium one way or another," Pool said. "Because the city has decided to do it, we have to do it right."

Under the deal, Precourt Sports Ventures will receive all revenue generated from the site. PSV will have final say on which concession companies serve the stadium, with a nonbinding preference for local businesses.

PSV will pay the city $550,000 a year to lease the stadium, but it won't start paying rent until the sixth year of the lease. And on an acre in the southeast portion of the lot, PSV will build a housing development with 130 units that will be available to renters earning less than 60 percent of Austin's median family income or sold to residents earning 80 percent of the city's median family income.