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On March 25, 2015, Major League Soccer commissioner Don Garber announced Minnesota United as the league's 23rd club and awarded the franchise to a group led by former UnitedHealth CEO Bill McGuire. The ownership group includes other Minneapolis sports owners, Twins owner Jim Pohlad, Timberwolves owner Glen Taylor, and Wild investor Glen Nelson. They beat out a competing bid by Minnesota Vikings owners Mark and Zygi Wilf.Garber said Minnesota would begin play in 2017 or 2018 – if Los Angeles Football Club is not ready to play in 2017, Minnesota would take its place.

McGuire bought the team, then named the Minnesota Stars, in November 2012 when it was under NASL's caretaker ownership.In September 2013, 2020 Partnership, a consortium of Downtown Minneapolis businesses, approached United about building a soccer-specific stadium by the Minneapolis Farmers Market near Target Field.

The Minnesota Legislature had passed a bill in May 2012 for a new NFL stadium projected to open by fall 2016 and gave a provision allowing for the Vikings to pursue an MLS franchise, including a five-year exclusive window to host MLS games in the new stadium. The Wilfs' bid also had the support of Minneapolis Mayor Betsy Hodges, and Minnesota Senator Tom Bakk called Major League Soccer to inform them that the state legislature would not be providing financing for a soccer-specific stadium. However, Commissioner Garber said that whenever possible, the league preferred a stadium that would be an "outdoor, soccer-specific stadium, 20,000 seats, playing on grass" as opposed to larger, covered venues with artificial turf like U.S. Bank Stadium,and McGuire had the support of Hennepin County Commissioner Mike Opat and at least three members of the Minneapolis City Council.

On August 19, 2016, it was announced that Minnesota United would play in the 2017 Major League Soccer season, with home matches at TCF Bank Stadium.