Sheik Mansour bin Zayed al-Nahyan, the owner of Manchester City, is close to finalizing a deal to become the owner of Major League Soccer's 20th team, according to a report in the New York Times.
Mansour is apparently willing to pay a $100 million expansion fee for the new team, which would be called New York City F.C. and could begin play in MLS in 2016.
The $100 million fee would more than double the last MLS expansion fee. The Montreal Impact's ownership group paid just $40 million for the team which entered the league last season.
The prospective owners are also close to announcing a deal for a privately financed $340 million stadium in the Flushing Meadows-Corona Park area in Queens. The stadium would hold 25,000 fans and could be expanded to support 35,000.
Last week, MLS commissioner Don Garber told reporters he hoped to announce the league's 20th team in New York City in four to six weeks. Manchester City will be in New York on May 25 to play a friendly against Chelsea, and according to the report, MLS hopes to have the deal announced before then.