/// Yankees, Manchester City Team Up for MLS Launch

May 21, 2013  |  Media Week

Two of the world’s most prominent sports franchises have joined forces to bring a new Major League Soccer club to New York. The New York Yankees and Manchester City Football Club announced today that they will scrape together the necessary funds to launch the 20th MLS team, with plans to begin play in a yet-to-be-identified Gotham venue in 2015. While financial details were not disclosed by either the Yankees or Man City, it is believed that the cost of getting New York City FC off the ground will work out to around $100 million. The Yankees are believed to be willing to front a quarter of the startup cash, while majority owner Man City will shoulder the lion’s share of the burden. The last expansion team to join the MLS was the Montreal Impact , which played its first season in 2012. Owner Joey Saputo and his investors ponied up approximately $40 million in startup fees. With a net value of $2.3 billion, the Yankees are the nation’s most valuable sports team—and third in the world behind Real Madrid ($3.3 billion) and Manchester United ($3.17 billion). Forbes estimates Man City ’s value at $689 million. Man City in 2012 won its first English Premier League title in 44 years. The club this year finished a rung below its crosstown rivals

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Yankees, Manchester City Team Up for MLS Launch

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