David Beckham finalizes MLS Miami funding by adding billionaire Todd Boehly, per report Boehly is an owner of the Los Angeles Dodgers
If you were holding your breath since the last news surfaced of David Beckham’s complicated MLS Miami project, you’d be six feet under by now.
Internal deadlines have been missed and a major announcement regarding funding was supposed to occur before January, but the looming funding issue has apparently been solved, with The Miami Herald reporting Beckham’s group has added billionaire Todd Boehly, president of Guggenheim Partners.
Adding Boehly would push Beckham United to the final stage of this drawn-out endeavor, which would be MLS owners agreeing to allow Miami into the fold in 2019.
Boehly is also a part owner of the Los Angeles Dodgers baseball team, which was acquired for $2 billion in 2012. His Dodgers group, named Guggenheim Baseball Management, also includes Magic Johnson and Mandalay Entertainment chief executive Peter Guber.
Major League Soccer commissioner Don Garber said last week a decision “has to be made” by the end of the year or they’ll move on from Miami.
An interesting part of Beckham’s potential ownership is the heavily discounted price of admission, which could easily rub other owners the wrong way. Via the Herald:
As part of Beckham’s contract when he joined the Los Angeles Galaxy as a player, he was promised a deeply-discounted franchise upon retirement. He reportedly will pay $25 million for a team, while owners of other new teams are paying $150 million. MLS is counting on Beckham’s international celebrity status to raise the global profile of the league. As owner of a team in Miami, his reach into Latin America is viewed as a valuable asset.