DC United General Partner Chang Sells Stake To Club's Majority Investor Group

DC United General Partner Will Chang has “sold his 35 percent stake” in the franchise to the club's majority investor group, led by Managing Partner Erick Thohir and Managing General Partner Jason Levien, according to Steven Goff of the WASHINGTON POST. Terms of the sale were not disclosed. Chang was an investor since ‘07 and “became the face of ownership.” He “kept the club afloat until Thohir’s group bought into the club” in ‘12. As Thohir “expanded his imprint on the organization and pursued a stadium project at Buzzard Point, Chang faded from the public eye.” Negotiations over his departure “accelerated this summer.” The move to buy out Chang comes three months after Levien and Grizzlies Vice Chair Steve Kaplan “bought a controlling stake” in EPL club Swansea City. It also “falls in the same year that Thohir freed up additional resources by relinquishing his majority ownership” of Serie A club Inter Milan (WASHINGTON POST, 10/11).