The MetroStars of the MLS located in New York never reached the championship game in their first 10 Major League Soccer seasons. Now their history is but a memory.
Energy-drink manufacturer Red Bull Company Limited purchased the MetroStars on Thursday from the Anschutz Entertainment Group and renamed the team "Red Bull New York," effective immediately.
In addition, Red Bull agreed to partner with AEG on the construction of the team's soccer-specific stadium in Harrison, New Jersey.
As part of the agreement, approved by the MLS Board of Governors on Thursday morning, Red Bull purchased naming rights to the new stadium. Red Bull will own half of the new stadium, with AEG responsible for constructing, managing and booking.
Financial terms were not disclosed, but reports say the deal could reach at least $50 million.
"The addition of Red Bull into our group of owners is a landmark moment for Major League Soccer and for all Tri-State area soccer fans," MLS commissioner Don Garber said. "Red Bull founder Dietrich Mateschitz brings international credibility and proven, innovative marketing expertise to Major League Soccer."
The company also owns an Austrian club, Red Bull Salzburg, which it has transformed into one of the leading teams in the country's first division.
