New York City FC have just signed up the best young manager in MLS and now the new league team are reported to be close to securing a stadium.

Real Salt Lake boss Jason Kreis this week signed up to become NYCFC's manager.

Now the franchise – owned by Manchester City and the New York Yankees – are reported to be on the verge of agreeing a $400m stadium in the Bronx, close to the home of the baseball team.

The New York Post reports that NYCFC are on the verge of a deal to build a 28,000-seat stadium just south of Yankee Stadium. The new MLS team plans to start playing games at Yankee Stadium when it joins the league in the 2015 season and move into a new stadium by 2018 or 2019.

The Post reports that current New York mayor Michael Bloomberg has given his backing to the deal, but he will not be in charge of a final decision. Mayor-elect Bill de Blasio has yet to consider the proposals.

The stadium deal will also include GAL Manufacturing and the Bronx Parking Development Company.

Kreis led Real Salt Lake to both the MLS Cup and US Open Cup finals this season – although lost both – and won the league title in 2009. He is expected to spend time in Manchester with the owners and working on youth development and training programmes.