David Beckham increases Inter Miami ownership stake

Inter Miami CF announced on Friday that co-owners David Beckham and brothers Jorge and Jose Mas have completed their buyout of now former co-owners Marcelo Claure and Masayoshi Son.

In a separate news release, Ares Management stated that it has made a $150 million "preferred equity investment" in Inter Miami.

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"We are immensely proud of the progress we've made over the past year and a half in Major League Soccer, and we are grateful to have had Marcelo and Masayoshi with us for the first part of our journey," Beckham said in a statement. "I am more committed than ever to working with my partners and friends Jorge and Jose to build a lasting legacy, developing youth players from our academy, competing for championships regularly, and most importantly, rooting ourselves into the DNA of our community and South Florida."

Inter Miami CF CEO and managing owner Jorge Mas added: "This is an important milestone for Inter Miami, and we thank Marcelo and Masayoshi for believing in bringing a team to South Florida.

"As we look toward the future, these ownership changes underscore mine, my brother Jose's and David's deep belief and commitment to the success of our futbol Club. On the field, we firmly believe we are building the right culture and processes to lift trophies, and off the field, we will continue to harness the power of futbol to do positive things through our partnerships and our community efforts. We look forward to welcoming Ares as a strategic investor and together grow Inter Miami."

According to its website, Ares Management is a "global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes."

L.A.-based Ares Management in June bought a 33% share in Atletico Madrid and also bought into the McLaren Group in mid-July.

As of June 30, 2021, Ares had approximately $262 billion of assets under management, with approximately 2,000 employees operating across North America, Europe, Asia Pacific and the Middle East.

"We are excited to support the future growth of this franchise and look forward to a long-term relationship with both Inter Miami and MLS," Jim Miller, partner and co-head of U.S. Direct Lending at Ares, said in a statement. "We also look forward to continuing to provide creative capital solutions to clubs and leagues in the sports franchise sector."

Earlier this week, Inter Miami also announced its first jersey sponsorship deal with cryptocurrency XBTO. The multiyear partnership is worth a reported $4 million to $5 million per year.

Claure joined forces with Beckham in 2014 to bring a team to Miami. He had previously tried to bring a team to Miami in 2009 with the help of Barcelona. Son was added to Inter Miami's ownership group in 2017, a time when the Mas brothers also came on board.

Claure announced his departure from the Inter Miami ownership group via Twitter.

"My dream to bring an MLS team to Miami began in 2009 and with Inter Miami my mission is complete. It's time to move on and let others carry on the mission. From my family to yours, thanks to the most important players in this journey -- the fans who never gave up."