David Beckham’s search for an additional investor for his potential Miami MLS franchise took a new turn on Monday, when the Miami Herald reported that the former LA Galaxy star is talking with Wesley Edens, a key executive of the parent company of the All Aboard Florida rail and real estate portfolio, about partnering for Miami Beckham United’s proposed stadium in Miami’s Overtown neighborhood.
According to the Herald, Beckham’s proposed stadium would be built about six blocks from All Aboard’s planned train depot in downtown Miami. Edens is the co-chairman of Fortress Investment Group, which is backing the new Miami-to-Orlando railway, called the Brightline, and a new Miami Central depot.
The Herald reported that negotiations between Miami Beckham United and Edens, who is a part-owner of the NBA’s Milwaukee Bucks, have not yet ended in a deal. Miami Beckham United confirmed the talks in a statement released to the Herald on Monday morning.
“Miami Beckham United has attracted significant investor interest following the purchase of two pieces of land in Miami’s Overtown neighborhood,” the statement read. “The list of possible investors includes principals of Fortress Investment Group, the company behind All Aboard Florida rail project and the Miami Central mixed-use development in downtown, just blocks from our stadium site.”
Miami Beckham United announced in March that they purchased six acres of land in Overtown, opening the door for the group to hold discussions with Miami-Dade County officials about purchasing an adjacent three-acre plot of land needed to build the proposed stadium.
According to the Herald, those talks have stalled, with the two sides negotiating over hiring requirements and other community benefits tied to the sale. The paper cited sources in the Beckham camp who attribute the delays to the “pursuit of a major investor to complete the stadium’s financing package.”
A partnership with Edens would presumably give Miami Beckham United access to the Miami Central depot’s commercial and parking complex. The current plans for Beckham’s stadium include no on-site parking garages, something that’s reportedly a major concern for Miami-Dade officials. The Brightline rail would also connect Miami with Orlando, giving a boost to a potential MLS rivalry with Orlando City SC.