Yankees to co-own soccer team

The New York Yankees are going into the soccer business.

The Yankees are partnering with Manchester City to own Major League Soccer's 20th team, an expansion franchise, which will be called New York City Football Club and plans to start play in the 2015 season.

Manchester City, owned by Sheik Mansour bin Zayed bin Sultan Al Nahyan, will be the majority owner of the team.

While MLS has been negotiating with New York to build a stadium in Flushing Meadows Corona Park, near the home of the New York Mets, NYC FC will start play at an interim home and will consider other sites for a stadium.

"We are very aware of the Queens negotiation," Manchester City CEO Ferran Soriano said of a 13-acre plot of the Flushing Meadows-Corona Park that has been previously discussed for a stadium. "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."

Yankee Stadium is hosting Manchester City on Saturday for a friendly vs. Chelsea FC. The Champions League final between Bayern Munich and Borussia Dortmund will also be shown on the big screen.

The new team is intended to spark a rivalry with the New York Red Bulls, who play in Harrison, N.J.

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