David Beckham has chosen Miami as the spot for his new soon-to-launch Major League Soccer (MLS) franchise.
Beckham after retiring from the sports and the Los Angeles Galaxy last year said he was interesting in creating a new MLS franchise to help the league expand.
While he must still go through the approval process from league officials, Beckham is expected to “pay a discounted rate of [$25 million] to start an MLS expansion team in Miami.”
Florida has not hosted a professional soccer team since 2001, when the Miami Fusion and Tampa Bay Mutiny exited the game.
A final agreement has not been reached and David Beckham’s cost of ownership could increase based on his willingness to compete with other bidders.
According to several reports American Idol creator Simon Fuller, Beckham’s business partner, is also heavily involved in making the most out of an MLS bid to ensure that the deal moves forward.
The franchise is not a guarantee as 12 other major investors have expressed interest in landing MLS franchises in different parts of the United States. Beckham, however, agreed to his Los Angeles Galaxy contract with the understanding that he could purchase a franchise at a discounted rate in the future.
Because the $25 million deal is a huge reduction in franchise acquisition some analysts believe that David Beckham will purchase a team, get it up and running, and then sell the club at a highly inflated price. For example, the owners of the Premier League side Manchester City paid around $100 million to manage the New York City FC team which launches in 2014.
Beckham has not commented on his plans for the team.
Do you think David Beckham would make a great MLS franchise owner based on his premiere league and worldwide soccer experience?