David Beckham ready to sell Miami United FC shares to fund team - report
David Beckham is shopping around shares in Miami United FC in order to help fund the proposed Major League Soccer franchise, even if that means the former Manchester United and LA Galaxy player might not be a majority owner, according to a report in the Miami Herald.
Former England captain Beckham has spent the last six months trying to find equity partners to help cover the estimated $300 million in funds required to secure a stadium site, build out a front office and sign players to the club, according to the report.
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The Herald cites sources "close to the negotiations" saying there is "vast interest" from investors including Qatar Sports Investments, who own another of Beckham's former clubs, Paris Saint-Germain, and Chelsea owner Roman Abramovich, among others.
Tadd Schwartz, the spokesman for Miami Beckham United, told the Herald: "We're performing our due diligence on our stadium site as we move toward the acquisition of privately held property and a third county-owned parcel over the coming weeks."
In November, Tim Leiweke, Beckham's partner who is leading negotiations for MBU, admitted that a deal to have the necessary funding in place to close the stadium land deal was in serious danger of falling apart.
The group reportedly wants to have a deal in place for a 25,000 seat stadium in Overtown, northwest of downtown Miami, by the end of February.