Beckham picks Miami for MLS franchise

 
The MLS still has to give Beckham the go-ahead to make Miami the location of the franchise.
   
Beckham is looking to raise several hundred million dollars of investment to fund the setup costs, including putting together the squad of players and building a stadium, although the franchise could initially play in an existing venue.
   
Beckham's business partner Simon Fuller, the "American Idol" creator who is the driving force in franchise negotiations, will be a significant shareholder, the person familiar with the situation said. Beckham is also looking to bring on board one or two further investors, having already had expressions of interest from businessmen globally, and hopes the team can be playing in three years.
   
In June, Beckham toured the Sun Life and Florida International University stadiums and met with Miami-Dade County Mayor Carlos Gimenez.
   
University officials delivered a presentation to Beckham and Marcelo Claure, president and CEO of Brightstar Corp. and a member of the FIU Board of Trustees, explaining the draw of a professional team in Miami.
   
Before deciding on Miami as the franchise location, Beckham explored options in other cities, including Montreal, San Diego and Orlando, the person said.
   
Miami has had a Major League Soccer team before. The Miami Fusion held matches in Fort Lauderdale from 1998 to 2001, before shutting down because of poor attendance.
   
As a former Manchester United, Real Madrid and AC Milan midfielder, Beckham hopes his star power will make a team work there.
   
Beckham's management team said it is not ready yet to make an announcement about Beckham's franchise ownership option.