Los Angeles biotech billionaire Patrick Soon-Shiong is nearing a deal to invest in Major League Soccer’s D.C. United club, according to a story by Bloomberg.
Should the agreement close, it would value the Washington D.C. soccer club at a league-record of $500 million, according to the story.
Soon-Shiong is considering buying the franchise with Jason Levien, D.C. United’s chief executive, who currently holds 22 percent. The pair would purchase the remaining 78 percent held by current club general partner Erick Thohir, potentially increasing Levien’s stake in the franchise.
Soon-Shiong has been a minority owner of the Los Angeles Lakers since 2010. Should the reported deal close, it would make the billionaire the largest stakeholder in the soccer club.
The deal is expected to close by the end of the month.
Staff reporter Joshua Niv can be reached at firstname.lastname@example.org or (323) 556-8336.