Los Angeles Billionaire Is Close to D.C. United Deal

• April 10 2018
• Scott Soshnick

Billionaire Patrick Soon-Shiong is close to a deal to invest in Major League Soccer’s D.C. United, an agreement that would value the club at a league-record $500 million, according to a person with knowledge of the negotiations.

Billionaire Patrick Soon-Shiong is close to a deal to invest in Major League Soccer’s D.C. United, an agreement that would value the club at a league-record $500 million, according to a person with knowledge of the negotiations.

Soon-Shiong and team Chief Executive Officer Jason Levien are buying the stake held by Erick Thohir, according to the person, who asked to be anonymous because the talks aren’t public.

Levien declined to comment. Soon-Shiong wasn’t available for immediate comment.

The deal should be done by the end of the month and would make Soon-Shiong the biggest stakeholder in the storied MLS team. Levien, who would also increase his stake, will remain managing general partner and CEO. The pair may seek additional investors in the future.

Soon-Shiong, who has a net worth of $8.2 billion, recently bought the Los Angeles Times and the San Diego Tribune from tronc Inc. for $500 million. He also owns a share of the Los Angeles Lakers.

Started in 1996 and once owned by philanthropist George Soros, D.C. United has won four league championships. Only the Los Angeles Galaxy has won more titles.