Deal for Bronx Soccer Stadium in Works as Clock Ticks The owners of New York's new professional soccer team and the Bloomberg administration are nearing a tentative agreement to build the city's first soccer-only venue: a $350 million, 28,000-seat stadium near Yankee Stadium in the Bronx. But it is far from a done deal. Mayor-elect Bill de Blasio, who was not briefed on the deal until Wednesday, did not immediately embrace the proposal, in part, because the Bloomberg plan entails tax breaks, the sale or lease of public land and public financing. Lis Smith, a de Blasio spokeswoman, said, "We have real concerns about investing scarce public resources and forgoing revenue to support the creation of an arena for a team co-owned by one of the world's wealthiest individuals, and will review any plan with that in mind." The team, now starting to take shape and known as the New York City Football Club, is a partnership between the Manchester City Football Club of England, which is owned by the billionaire Sheikh Mansour Bin Zayed Al Nahyan, and the Yankees. The stadium is on a long list of projects that Mayor Michael R. Bloomberg has been eager to nail down before he leaves office at the end of the month. His initial plan to put the stadium in Flushing Meadows-Corona Park ran into widespread criticism from local groups and park advocates. For the past six months, the team's owners have focused on the Bronx and a spot south of Yankee Stadium. The Bloomberg administration's signing of even a nonbinding agreement would present a challenge for Mr. de Blasio, who has vowed to negotiate better deals for taxpayers than his predecessor has. The accord would almost certainly reignite a debate about providing public subsidies for lucrative sports franchises. In the past, Mr. de Blasio was critical of what he described as the overly generous subsidies the Bloomberg administration provided to the Mets, enabling the ball club to build Citi Field in Queens. The soccer stadium project would still have to make its way through the city's approval process next year. Public financing would need the approval of the city's Industrial Development Agency, which may be reorganized under the new mayor. However, the nonbinding agreement as currently envisioned includes a clause that would put pressure on the de Blasio administration to act quickly: The team owners and the city would have until the end of March to sign a predevelopment agreement and lease, according to one official briefed on the terms. A spokeswoman for the Bloomberg administration said that talks were continuing and that nothing was final. Richard Brodsky, a former state assemblyman from Westchester County who has been a critic of public funds for professional teams, said, "This is the Yankees and the third-richest man in the world asking for hundreds of millions of dollars in taxpayer money." Ruben Diaz Jr., the Bronx borough president, who said he had not made up his mind about the deal, has promised local community groups that they will have a role in shaping the deal for the stadium. Randy Levine, the Yankees" president and the soccer team executive who has led the negotiations with the city, declined to comment. In order to build the stadium on a 10-acre site south of Yankee Stadium, the soccer franchise would have to buy the land now occupied by GAL Manufacturing, a family-owned business that employs about 400 people, and build a new factory nearby. The team would also have to come to terms with the Bronx Parking Development Company, which controls a garage on the site that would have to be demolished. The parking company is teetering on the edge of bankruptcy, a move that could leave the city liable for its $240 million debt. Mr. Levine has offered the company about $25 million. But the team also needs to buy or lease adjacent parking lots from the city and gain control of a section of East 153rd Street. At the same time, the team wants the city to issue $250 million to $300 million in tax-exempt bonds. The team would be responsible for paying off the debt, but the bonds would save the team millions of dollars in federal and state taxes over 38 years. In addition, the deal would include sales tax and mortgage recording tax exemptions worth an estimated $21.5 million.