I found some one with knowledge on the situation for those interested
The italicized part is from the article that was behind the pay wall. After that is commentary from a guy who follows closely
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New York City, the New York Yankees and investment manager Nuveen LLC struck a preliminary agreement to restructure debt sold for troubled parking garages at Yankee Stadium in the Bronx, removing a potential obstacle to the construction of a new soccer arena.
The Dec. 30 agreement, first disclosed in a bond filing Tuesday (6/1), would resolve the long-running default on the $238 million of municipal bonds issued in 2007 to finance the construction of three parking garages and the renovation of other parking facilities at the new stadium. Revenue from the garages and lots wasn't sufficient to pay debt service as fans preferred public transportation or ride-sharing services or sought out cheaper spots to park. Nuveen held $156 million of the bonds as of April 30, according to data compiled by Bloomberg.
Bronx Parking Development Co., a non-profit, operated 13 new and existing parking facilities near the stadium under a lease with the city. The agreement calls for Bronx Parking to assign part of the lease to Maddd Equities, which has proposed building a 25,000-seat soccer arena for New York City Football Club.
Maddd Equities is the group partnering with CFG/NYCFC/Yankees to build the new stadium, and this basically guarantees their lease for the stadium site. The remaining obstacles are centered around relocating the GAL Elevator Manufacturing site (which the company and NYCFC are working on jointly to find a new location and seems inevitable), and deciding who is responsible for the removal of the off-ramp near the parking garages that will have to be removed as well (which is the bigger obstacle remaining). This is a significant step in the right direction though.