SACRAMENTO -- Sac Soccer & Entertainment Holdings, led by chairman and CEO Kevin Nagle, has officially purchased the Republic FC soccer team.
The announcement was made Monday morning outside of Sacramento City Hall.
The move brings Sacramento one step closer to receiving a Major League Soccer expansion team, according to Nagle.
Current President and co-founder of Republic FC, Warren Smith, tells FOX40 he will continue in his role for the remainder of the season.
The MLS is expected to announce multiple expansion teams by the end of this year.
There are currently more than 10 cities competing for the expansion spots.
Nagle tells FOX40 that he has been in frequent contact with MLS commissioner Don Garber about the expansion.
The new ownership group says they have already started the bidding process for potential companies to build the new stadium in the Sacramento Railyards. Previously, SSEH left the Republic FC off its bid.