Investors Pitched on David Beckham’s Miami Plan

Overtown MLS stadium

In an effort to boost Miami’s hopes of building an MLS stadium, David Beckham and his group are teaming up with Miami-Dade County‘s mayor to pitch prospective investors.

There has been more talk about Miami’s MLS plans in recent weeks. Beckham and his group, Miami Beckham United, are trying to finalize a proposal for a stadium in Overtown, with the cost of the facility expected to be at least $150 million. Additional land needs to be acquired to ensure the project’s completion, and the group wants to have more investment in place before finalizing the agreement.

Assisting Miami Beckham United in that effort is Miami-Dade County mayor Carlos Gimenez, who is known to have to met with a group of unidentified, potential investors. More from the Miami Herald:

There had been a brief flurry of speculation this summer centered around a partner in the company behind All Aboard Florida’s train deport in downtown Miami. But two sources familiar with the talks said Wesley Edens, chairman of the Fortress Investment Group, is no longer in the mix as a potential investor.

Neisen Kasdin, the Miami lawyer and lobbyist representing Beckham’s group, said Gimenez met with the investors in the downtown offices of Akerman, the law firm where Kasdin is a partner.

“Mayor Gimenez met with them and encouraged them to invest,” said Kasdin, a former Miami Beach mayor. “It’s been known that the ownership of the team is looking for additional investors. This is a group of investors that is coming to town.”

Miami has long been believed to be on the MLS’ radar as an expansion market, perhaps as an entry along with Los Angeles FC in 2018. The timing of the stadium’s development may not line up with the 2018 MLS season, meaning that, if a team is secured, it could begin play in a temporary venue.

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