The city of Frisco has roughly 300 acres of prime developable land alongside Panther Creek on Brinkmann Ranch under contract, with plans to build a city park with sports fields that, if developed, would be bigger than Dallas' Fair Park.

Officials with the city are expected to close on a tract at the northwest corner of Eldorado Parkway and Preston Road on Feb. 5, multiple sources say.

By luring the Dallas Cowboys' world headquarters and practice facility and recently landing a Major League Lacrosse team, sources say Frisco is branding itself a premier city in North Texas to raise a young athlete. The park is expected to feed into that directive with various sports fields that have the ability to attract major youth sporting events.

Mayor Jeff Cheney declined to comment on the would-be deal, but said parks are an important part of Frisco's future.

"I've always said I want Frisco to have the best park system in the entire country," Cheney told the Dallas Business Journal.

Real estate sources say the acreage is expected to sell at market rate, which for land zoned for single-family homes is above $4 per square foot.

If Frisco buys 300 acres at that market rate, the city's tab for the park land would be more than $52 million.

Read full Dallas Business Journal report