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Group buys United for $33 million

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  • Group buys United for $33 million

    <H1></H1><H6></H6><TABLE cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR><TD width=335><DIV class=byline>ByJonathan Nierman/MLSnet.com Staff</DIV></TD><TD align=right width=155><DIV class=storyTixAd></DIV></TD></TR></TBODY></TABLE><TABLE cellSpacing=0 cellPadding=0 align=right><TBODY><TR><TD> <DIV class=articleCaption>Victor MacFarlane leads D.C. United's new ownership group, which was unveiled Monday.(D.C. United)</DIV></TD></TR></TBODY></TABLE><DIV class=storyBody>D.C. United press release &gt;

    D.C. United announced Monday that Victor B. MacFarlane will head a new ownership group for the Major League Soccer club, having completed the purchase from AEG, a wholly-owned subsidiary of the Anschutz Company, for $33 million. Co-owners will include William H.C. "Will" Chang and former Duke basketball players Brian Davis and Christian Laettner.

    "I am proud not only to assume ownership of the premier professional soccer team in the United States, but to do so as an African-American," said MacFarlane, who will serve as the new ownership group's controlling member in league matters. "Our group is dedicated to supporting the organization so that the team continues to build on its history of excellence."

    MacFarlane is founder and managing principal of MacFarlane Partners, one of the leading minority-owned real estate investment management firms in the U.S., with $11.7 billion in assets under management. Chang is chairman of the global investment firm Westlake International Group and one of the owners of Major League Baseball's San Francisco Giants, while Davis and Christian Laettner are co-managing members of Blue Devil Partners, a real estate development firm in Durham, N.C. The pair won NCAA basketball championships while playing with Duke in 1991 and '92; Laettner also played in the NBA for 13 seasons.

    Also, discussions are ongoing to extend ownership interests to John S. Hendricks, founder of the Discovery Channel, who was also a founder of the Women's United Soccer Association.

    "It is exciting to present this diverse and local ownership group to the District of Columbia," said Washington Mayor Adrian Fenty. "To have African-Americans own one of the District's major league sports teams is a tribute to this city, its citizens and our future. Everyone should be congratulated on this purchase. This is an historic event for D.C., and will put in motion even greater changes for our world-class city. I very much look forward to working with D.C. United as they continue their development plans and their service to the community through their wonderful charitable programs for our youth."

    D.C. United President and CEO Kevin Payne and all other front office staff will continue to run the day-to-day business of the club. Payne has been associated with the club since its inception in 1996.

    "D.C. United is guided by two missions: winning championships and serving the community, and our new ownership group shares in those goals," said Payne. "We look forward to the next chapter in D.C. United history with great anticipation and are excited to begin work with Victor, Will and Brian to carry D.C. United to a whole new level. On behalf of the players, the staff and the fans of D.C. United, I'd like to extend a heartfelt thanks to Phil Anschutz, Tim Leiweke and AEG for five terrific years together."

    The new ownership group is the third to have owned the club. D.C. United was owned by Washington Soccer, L.P., initially, before it was purchased by AEG in 2001.

    "As a business decision, this agreement makes sense as it will bring a very bright and moti
    "Only when you drink from the river of silence shall you indeed sing. And when you have reached the mountain top, then you shall begin to climb. And when the earth shall claim your limbs, then shall you truly dance." ~ Kahlil Gibran

  • #2
    RE: Group buys United for $33 million

    God Bless America- T.K.
    No need to thank me forumites.

    Comment


    • #3
      RE: Group buys United for $33 million

      $33M seems a bit high for a MLS franchise. MSL teams have been losing plenty dough for years, and they have not yet operated in the black. Maybe the top clubs in the NPL can be a feeder link to DC United.
      Winning means you're willing to go longer, work harder, and give more than anyone else - Vince Lombardi

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      • #4
        RE: Group buys United for $33 million

        Hortikal (1/8/2007)$33M seems a bit high for a MLS franchise. MSL teams have been losing plenty dough for years, and they have not yet operated in the black. Maybe the top clubs in the NPL can be a feeder link to DC United.
        Red Bull just brought the Metro Stars for $120 million so I think $33 million for DC is reasonable. As for the NPL teams to be a feeder club toan MLS teamthey would have to be able to provide aforum foran MLS clubsfringe or youngplayers to get worthwhile game and training experience. Right now the NPL is just notproviding that. - T.K.
        No need to thank me forumites.

        Comment


        • #5
          RE: Group buys United for $33 million

          T.K. (1/8/2007)

          Red Bull just brought the Metro Stars for $120 million
          :hehe::hehe::hehe:



          Twas way over board!
          Winning means you're willing to go longer, work harder, and give more than anyone else - Vince Lombardi

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