New York Yankees, Manchester City To Own 20th MLS Franchise NYCFC

Manchester City and the New York Yankees have announced that they will be joint owners of the MLS' next franchise in New York.

According to ESPNFC, the teams will pool together $100 million to create the New York City Football Club (NYCFC).

"The fact that we have a Premier League champion and a 27-time World Series Champion will give the league the credibility around the world that the signing of David Beckham did," said Don Garber, MLS commissioner. 

"This market has 19 million people in the region and is soccer hungry. With the Red Bulls here, we have the opportunity for a rival -- a derby, if you will -- that will break through the clutter of sports teams in this market and will work on the local, national and global levels," he added.

Yankees president Randy Levine expressed the baseball clubs' love for the sport.

"From The Boss George Steinbrenner on down, we have been big soccer fans in this organization," Levine said.

"[Manchester City] know how to run a soccer club, we know our way around New York it is a win-win."

And Manchester City CEO Ferran Soriano also expressed excitement over the new venture. 

"We are here to develop a fantastic football product which will use our strength, knowledge and extended scouting network all over the world," Soriano said.

"Obviously there is the commercial opportunity for New York City FC and Manchester City and we have great players in our academies... it is only natural some of these players might be playing in New York."

New York City FC will reportedly begin playing in 2015. The club will play in an interim building while its owners create an appropriate venue. One potential area could be the 13-acre plot in Flushing Meadows-Corona Park in Queens.

"We are very aware of the Queens negotiation. This is not about finding a stadium. This is about finding a home that will be successful from a commercial, and soccer perspective as well as a community perspective," Soriano said. 

Manchester City will be playing in Yankees Stadium this weekend.