LOS ANGELES (CBSLA.com) — The Los Angeles Football Club is preparing to break ground on its state-of-the-art Exposition Park stadium next week.

The team will hold a groundbreaking ceremony August 23. The privately-financed stadium is replacing the LA Sports Arena, which closed earlier this year after 56 years.

The 22,000-seat soccer stadium will be the centerpiece of an entertainment complex that will also feature restaurants and a soccer museum. The project will cost about $250 million.

Credit: Gensler/Los Angeles Football Club

Credit: Gensler/Los Angeles Football Club

The team won’t take the field in MLS competition until the 2018 season, but it has already been ramping up its social media presence in an effort to court fans.

The team last week released a drive-by video of the stadium site.

The team’s owners include many A-list names in the worlds of entertainment, technology and sports, including private equity billionaire Larry Berg, Lakers legend Magic Johnson, US soccer star Mia Hamm and comedian Will Ferrell.

The groundbreaking ceremony is to be held at the stadium site at 9:30 a.m. August 23 and will be broadcast on Facebook Live, the team said.