Field Court Ventures, a division of Hall Equities Group, has withdrawn from its agreement with the City of Concord for the development of a mixed-use sports and entertainment project including a downtown soccer stadium. The stadium was part of a larger mixed-use development, including sports, entertainment, hospitality, commercial, residential, and convention-based projects.

“Given the increasing lack of support among City elected officials and staff for our original vision of a mixed-use project and the negative near-term economic climate, we feel it best to halt any further investment in this project. We will continue to search for a suitable venue for a Bay Area location for our professional USL ChampionshipLeague Soccer Franchise,” Hall said Wednesday.

Field Court Ventures is will pursue other alternatives for a new USL Championship team to be in the San Francisco Bay Area. In 2017, Hall acquired the territorial rights to start a USL Championship team, the second division of soccer in the United States.