Austin FC will play its home games at the newly-named Q2 Stadium when the Major League Soccer season begins later this year.

The club announced the naming partnership with Austin-based tech company Q2 Holdings Inc. at a ribbon-cutting ceremony Jan. 24 for the stadium, which is still under construction.

Austin FC President Andy Loughnane said the team selected Q2 not only because of the company’s local roots but because of their goal to make future investments in the community.

The naming rights partnership includes philanthropic and entrepreneurial layers, Loughnane. As the team’s official community partner, Q2 will launch an annual $150,000 campaign to give back to local nonprofit organizations.

A Dream Starters Competition will also be launched by the two groups in an effort to provide seed money to future Austin-based businesses, according to a news release by Austin FC.

Q2 President and CEO Matt Flake said the stadium is not just about soccer but about building a community around Austin FC. He said he is proud to have Q2’s name on a venue that will help those in the community create new memories for years to come.

Although the MLS schedule is still in flux due to the coronavirus pandemic, Loughnane said the 20,500-seat stadium is nearing 90% completion and that construction is on track to be finished in late March or early April. Staffing and employee training will take place once construction is complete, and Loughnane said he anticipates the first events at the stadium will take place in June.

The exact length or financial commitment within the partnership has not yet been disclosed, but Loughnane said it is a multiyear commitment.

The partnership with Q2 continues Austin FC’s tradition of partnering with Central Texas-based businesses for official sponsorships. In February 2020, Austin FC announced a partnership with Austin-based cooler brand Yeti as the club’s official jersey sponsor. The club has also partnered with grocery chain H-E-B, the sponsor of the H-E-B Plaza fan zone outside of the stadium. The St. David’s Performance Center, the club’s training facility, is located off Parmer Lane east of I-35 in Northeast Austin.