Cardiff City owner Vicent Tan has confirmed that he is a member of the big-name consortium group for the new Los Angeles-based MLS franchise which will be unveiled today as “Los Angeles FC”.
Malaysian billionaire Tan, who also owns FK Sarajevo in Bosnia, told the BBC: ‘I'm investing in a new franchise in LA. That's my personal private investment.
‘I believe the MLS will be a good investment.
‘I'm actually a minority partner. There are three parties, three shareholders from Asia.
‘One is another Malaysian and one Vietnamese, so three of us.’
The fee for the new LA team, which plans to begin play in 2017, is believed to be in excess of $100 million - the league record fee that New York City FC paid to join MLS next March.
The franchise is set to take the place of the much-maligned Chivas USA, who were announced to be dissolving on Monday after a decade of struggling to gain a foothold in the area up against their rivals the Los Angeles Galaxy.
Tan, who brought Cardiff in May 2010, is one of 22 "partners" involved with LAFC, with the club’s new website revealing that the likes of NBA legend Magic Johnson, former MLB star Nomar Garciaparra and his wife and ex-US women’s national team standout Mia Hamm are all part of the project.
Plans are afoot to build a new world-class venue to house the team, rather than share the StubHub Center with the Galaxy as Chivas did, with the details expected to be announced at a later date.