The Houston Dynamo and Dash, along with BBVA Stadium, are being sold to a group led by Ted Segal.
The sides are expected to sign a letter of intent as soon as Thursday, sources with knowledge of the talks said. No price has been reported, but recent MLS expansion fees have exceeded $300 million, and some teams were valued as high as $500 million before the pandemic.
Segal, the founder and president of EJS Group, will be the organization’s primary owner. EJS Group is a New York City-based real estate development and finance group.
The Dynamo had been owned by a group led by Gabriel Brener and including Oscar De La Hoya, Jake Silverstein, Ben Guill and James Harden. The group is expected to keep a minority stake in the franchise. Brener had acquired the majority ownership stake from Anschutz Entertainment Group in December 2015.
Segal’s group had also considered purchasing the Orlando and Salt Lake City franchises before settling on the Dynamo, the sources said.
After a letter of intent is signed, the purchase needs approval of the MLS board of governors. The process usually takes between 45 and 60 days.
The Orlando franchise reached an agreement last week with the Wilf Family, which owns the Minnesota Vikings, to sell its MLS and NWSL teams and stadium. Real Salt Lake is still looking for an owner.
The Dynamo and Dash sale comes at a time of growth for the MLS, which has expanded to 27 teams, including a new franchise in Austin.
Houston is also bidding to be one of the host cities for the 2026 World Cup, which will be played in the U.S., Canada and Mexico.
The Dynamo moved to Houston in 2005 from San Jose and won the MLS title in 2006 and 2007. The Dynamo were runners-up in 2011 and 2012. The franchise’s early success led to the building of BBVA Stadium, a soccer-specific facility just east of downtown that opened in May 2012.
Based on figures from the MLS players association, the Dynamo ranked 24th of the 27 teams in overall payroll at $9.5 million.
The Dash, meanwhile, won the 2020 NWSL Challenge Cup, the first championship in franchise history.
Prior to founding EJS, Segal was a vice president at LS Power Equity Advisors, a seller of utility generation similar to NRG. He was also an attorney at Latham and Watkins from 2009-13. The purchase is described as a family acquisition and not related to any of Segal’s companies.
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