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Beckham Facing December 31 Deadline For Miami Franchise

MiamiIt appears that David Beckham has until the end of the month to out together his ownership package for his MLS franchise in Miami or risk seeing his franchise cost escalate.

When Beckham signed with the LA Galaxy in 2007, he negotiated a the option to become a team owner at a discounted rate of $25 million. But that bargain price comes with an expiration date that is fast approaching.

“Hopefully there will be an announcement before the new year,” Beckham said in an interview with Sky Sports in the UK. “We haven’t announced that it’s definitely going to be Miami yet but obviously I’ve been seen in Miami quite a few times. We’re getting the details right at the moment.”

Beckham has recruited a group of investors that includes Bolivian-born billionaire Marcelo Claure, owner of Miami-based wireless distributor Brightstar. He also has support from Miami Heat superstar LeBron James, who already owns a small piece of England’s iconic club.

The big unknown is where the new Miami team will play, but sources out of Miami are saying that Beckham is leaning towards building a 25,000-seat facility on part of Dodge Island in Biscayne Bay.