SPORTS
Dynamo are for sale
11:08 AM CST on Thursday, November 22, 2007
With the growing support for Major League Soccer across the United States, the league is asking the group which owns both the LA Galaxy and the Houston Dynamo to put one of the clubs up for sale.
The Houston Dynamo are up for sale.
11 Sports has learned since the Galaxy is headquared in LA and has signed British soccer star David Beckham, the Los Angeles based company, AEG, is looking to divest itself of the Dynamo.
It is not uncommon for a new league to have teams with multiple owners. Kansas City Wizards owner Lamar Hunt who has been a long time supporter of Soccer in the US, has been one of the owners who helped bankroll the league at its inception.
But now that the league is more than 10 years old, the MLS is looking to have owners with only one team. The Dynamo is believed to be worth $35-40 million, so long as it has a stadium deal is worked out. The club continues to negotiate with the City of Houston, and an announcement on a new stadium is expected shortly.
AEG made the decision to move the Dynamo from San Jose two years ago when the club was called the Earthquakes because a stadium deal could not be worked out in California.
Ironically, San Jose is coming back into the league with a new franchise called the Earthquakes next season.
Boxer Oscar De La Hoya is interested in buying the Dynamo with his company Golden Boy Productions. Representatives of the company have visited Houston, attended games and are very impressed with the way the franchise is operated along with how the team has played.
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