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Two Oak Ventures was announced as the parent company and ownership that will operate incoming MLS expansion outfit Austin FC.

The newly formed Two Oak Ventures entity will formally replace Precourt Sports Ventures, with Anthony Precourt set to continue leading the new entity as chairman and CEO. 

“As Austin FC’s new parent company, Two Oak Ventures’ principal focus is building a vibrant MLS club that unites and instills pride in the City of Austin, and this proven executive team will continue to be critical to our success,” Precourt said in a statement. “Given MLS’s growth trajectory, to be successful and compete for championships and to realize our full ambition as a soccer club, we have to be more than a soccer club. Two Oak will help us realize that vision. Bringing in strategic, local investors will also play a key role in this evolution. We expect to announce in the near term a prominent group of local Austinites who will join Two Oak Ventures.”

Dave Greeley, Precourt’s lead executive on the MLS2ATX effort and the founding of Austin FC, will move into the role of President of Two Oak Ventures. Greeley — who has partnered with Precourt since his initial investment in MLS in July 2013 — will oversee all aspects of Two Oak in conjunction with Precourt. Lori McKirnan, who has previously served as a financial executive with Columbus Crew SC and the NFL's Atlanta Falcons, will be the Chief Financial Officer.

Among the current projects that lie ahead for the newly-constituted Two Oak Ventures are preparing for Austin's first competitive season in 2021, design and construction of the 100% privately financed $242 million MLS stadium at McKalla place (with input from the City of Austin), the acquisition, design, development, and construction $35 million training facility for Austin FC, and developments tied to the new stadium at McKalla Place.