David Beckham's group buys land for soccer stadium in Overtown

Terms of deal not disclosed

MIAMI – David Beckham and his group of investors have purchased land to build a Major League Soccer stadium in Miami's Overtown neighborhood.

Marcelo Claure announced Thursday on Twitter that the group had closed on the stadium site. The chief executive officer of Sprint, who is one of Beckham's investors, posted a picture with the soccer star announcing the deal.

The announcement comes more than two years after Beckham announced that he would bring a professional soccer team to Miami.

Miami Beckham United has had difficulty finding a home for its soccer team after several potential sites at PortMiami, near the American Airlines Arena and next to Marlins Park fell through.

The group purchased two private properties totaling about six acres at 650 NW Eighth St. near downtown Miami.

In December, Miami-Dade County Mayor Carlos Gimenez signed a non-binding letter of intent with Miami Beckham United to negotiate the purchase of land owned by the county.

"The acquisitions open the door to MBU's purchase of adjacent land required for development, now controlled by Miami-Dade County, at fair-market value," the group said in a joint statement.

Miami Beckham United anticipates that the stadium will cost about $220 million to build, but no public money is expected to be used.

Terms of the deal were not disclosed.

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