Newly formed Austin Sports & Entertainment, working with Rodeo Austin, has proposed replacing the Travis County Expo Center with a large arena and 15,000-seat stadium.

The so-called East Austin District would incorporate a 15,000-seat arena adjacent to a 40,000-seat open-air facility, according to the Austin American-Statesman. Other features could include office space, a convention area, medical facilities, retail and eight courtyards, intended to host a wide variety of concerts, trade shows and festivals.

Austin Sports & Entertainment was co-founded by former University of Texas swimmer Sean Foley and New England sports entrepreneur Andrew Nestor.

“The natural growth of the city is east, but that area has been neglected far too long,” Foley told the Statesman. “Right now, it might be several miles from Downtown; tomorrow, it won’t be.”

The facility would be privately funded. Foley said investors have been identified.

Meanwhile, the city has set a date of Dec. 14 to produce a list of potential locations for a stadium for the Columbus Crew, which is considering a move from Ohio to Austin. Precourt Sports Ventures, which owns the Columbus Crew, has stated Butler Shores would be the preferred location for a Downtown soccer stadium.

The East Austin District is being done in partnership with Rodeo Austin, which hosts an annual two-week event at the Travis County Expo Center. Earlier this year, Rodeo Austin announced a former employee had embezzled $1.3M, leading to significant restructuring of the operation, according to the Austin Business Journal.