New York City FC is working to win approval from New York City for a new soccer stadium, a team spokesperson told CNBC.
While no official deal has been reached, the professional soccer team is collaborating with real estate developer MADDD Equities, the New York Yankees, the New York Economic Development Corporation, the Bronx Parking Authority and local leaders on a project proposal for a new stadium in the South Bronx, according to the spokesperson.
"We have been honored to call the Bronx our home for the last five years playing at Yankee Stadium, and we will keep our neighbors and our dedicated fans informed," the spokesperson said.
More conversations are needed, and an agreement has not been finalized, an EDC spokesperson said in a statement to CNBC. The spokesperson confirmed that developers, the Yankees and NYCFC approached the city regarding the project.
"It's long past time to make the underutilized parking lots around Yankee Stadium into something more," the EDC spokesperson said.
The new stadium would be built near Yankee Stadium in an area that currently has parking lots and an elevator parts factory as a part of a more than $1 billion development project, The New York Times reported. The paper was the first to report the Major League Soccer team was nearing a deal to construct as 25,000-seat stadium.
The Yankees have partial ownership of NYCFC. The teams have experienced tension over sharing a space with the Yankees in the past.