Celebrity Real Estate: David Beckham's Group Paid $19M for Overtown Properties

The Miami Beckham United recently confirmed that they were able to buy six acres of property in Overtown for $19 million. According to Miami Curbed, the purchase was part of the MLS Miami Franchise, and this puts them closer to reality of building a soccer club after their journey began in 2013.

The Miami Beckham United (MBU) group comprises the former England midfielder along with his agent Simon Fuller and the businessmen Marcelo Claure and Tim Leiweke. The Guardian reported that they confirmed the purchase this week. They also said that the acquisition of the properties opens the door for the group's plan to purchase the adjacent land which is required for developing a stadium.

The adjacent property is currently controlled by Miami-Dade County and is being held at a fair market value. The remaining 2.8 acres of the land has a value of $9 million. If acquired, the group is planning to build a privately funded 25,000-seat stadium. They are now facing the challenge of winning the approval from the country to finalize the purchase of the said public land.

Claure expressed his excitement as they seem to be closer to realizing their dream of fielding a soccer club which will make Miami proud. He said that they are on the right track as they have the perfect site and a loyal base of fans who are also waiting for their first match.

The site is only a walking distance from downtown Miami. It is also close to the Miami Beach area. It is also easily accessed by rail and the metro.

Beckham played in MLS with the Los Angeles Galaxy for five years during the peak of his career. It was said that his Galaxy contract also featured an option to buy a future MLS expansion franchise worth $25 million.

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