Thursday, July 28, 2005

DC United Sold

In a major announcement just hours before their match with Chelsea, Global Sports and Entertainment will take over United.

From the press release:

"D.C. United and AEG announced today sale of the four-time MLS Cup champions to Global Sports and Entertainment, subject to formal approval by Major League Soccer. United President and CEO Kevin Payne will head the newly formed ownership group, which includes local businessmen Willi Lauterbach and Tim Kissler, as well as several other investors. The purchase price was not disclosed, but is the largest paid to date for a Major League Soccer team."

AEG still owns four other MLS teams (Los Angeles Galaxy, Chicago Fire, San Jose Earthquakes and MetroStars). The President & CEO of AEG did add, "This sale was a difficult decision for our organization, as the franchise has always been a favorite. However, the transaction will enable us to focus our attention on other teams and the continued development of state-of-the-art stadiums for these franchises."

This is another bright day for the MLS. The fact that other organizations are interested in the premier US soccer league is great. The influx of new cash and ideas will only help. I look forward GSE's ownership as well as their new stadium (which I'm sure will be announced soon). I'm also glad to hear about AEG's commitment to new stadiums.



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