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Sources: Sale Of LAFC Stake Values Club At MLS-Record Price

LAFC's ownership group has "partially bought out a stake held by Malaysian businessman Vincent Tan in a deal that values the club" at more than $700M, a record for any MLS club, according to sources cited by Eben Novy-Williams of BLOOMBERG NEWS. The sources said that several team owners have bought half of Tan's 20% stake in the club, with "plans to buy the other half internally as well." Novy-Williams noted Tan has been "looking to scale back his soccer portfolio," which also includes English Championship League club Cardiff City. LAFC's ownership group is comprised of "business executives, athletes, celebrities and private equity managers," though the club is "controlled by a trio of owners" -- Larry Berg, Bennett Rosenthal and Brandon Beck (BLOOMBERG NEWS, 2/28).

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