D.C. United owner Erick Thohir is selling his majority stake in the MLS club, with billionaire Patrick Soon-Shiong set to invest, according to reports.
Thohir has agreed to sell his 78 percent share of the team to partner Jason Levien, who is looking for new investors, the Washington Post reported.
According to Bloomberg, Soon-Shiong, 65, would become the largest stakeholder in the team in an agreement that would value D.C. United at an MLS-record $500 million.
Last year, Forbes valued the club at $230m, the 11th-highest in MLS before the addition of expansion clubs in Atlanta, Minnesota and Los Angeles. The financial outlet said United had a 2016 revenue of $25m but lost $1m.
D.C. United's value is likely to get a boost when its new soccer-specific stadium, Audi Field, opens later this year.
Last week, Orlando City was valued at $490m after owner Flavio Augusto da Silva sold an 8.63 percent stake to Albert Friedberg for $42.3m.
Forbes has also valued the NHL's Washington Capitals at $625m, baseball's Washington Nationals at $1.6 billion and the NFL's Washington Redskins at $3.1 billion.
The deal would not be Soon-Shiong's first foray into sports, as in 2011 he bought a share of the NBA's Los Angeles Lakers from Magic Johnson -- who is now an investor in MLS expansion club LAFC.
Levien, who also owns part of Premier League club Swansea City, controls the other 22 percent of United and could see his share increased.
Thohir, a former owner of Inter Milan, could remain in the ownership group at a reduced level, the Post said.