The team will be owned by Ragain Sports LLC president Nicholas Ragain, and the plan is to have them play in a multi-use stadium downtown. The team is expected to be formally announced on Thursday in a press conference.
MLS teams have been signing affiliation agreements with USL teams for the past year and the collaboration between the two leagues will likely continue to grow, so getting a natural USL franchise in for the Rapids to affiliate with nearby makes Colorado's future in that regard much clearer. The league will be losing its main draw in 2015 (Orlando City, which was announced as the 21st MLS Franchise a few weeks back) and they will likely be looking to fill the gap with even more team announcements by that point.
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Matt Pollard 