L.A. Soccer Team Gets Record-Setting $700 Million-Plus Valuation

Feb. 28, 2020, 7:43 PM

Owners of the Los Angeles Football Club have partially bought out a stake held by Malaysian businessman Vincent Tan in a deal that values the club at more than $700 million, the most ever for a Major League Soccer team, according to people familiar with the situation.

A handful of the club’s current owners bought half of Tan’s 20% stake, said the people, who asked not to be identified because the agreement isn’t public. The group plans to buy the other half internally as well.

Founder and chairman of Berjaya Corp., Tan has been looking to scale back his ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.