Major League Soccer (MLS) announced on Feb. 20 that it has bought the Chivas USA franchise from Angelica Fuentes and Jorge Vergara, and will take over the ownership of the club immediately.
The league also said it will soon name an experienced sports executive to take over as the team president on an interim basis. Wilmer Cabrera, the club’s head coach, will remain with the team and will report to Chivas’ new president. Cabrera was just hired on January 9.
MLS plans on re-selling the franchise in the next few months and is looking for an ownership group that will keep the club in the Los Angeles area and will also construct a new stadium. The league has already had discussions with potential owners and hopes to finalize a sale before the year is out.
The franchise will still be known as Chivas USA for the upcoming 2014 MLS season, but it will be renamed and will receive a new logo when it’s sold.
According to the league, Vergara and Fuentes will still retain all of the licensing and branding rights to the current Chivas USA name under the sales agreement. However, the league will be allowed to use the brand name until a new owner can be found.
Don Garber, the commissioner of MLS, said the league thanks Vergara and Fuentes for all of their work in the past and for helping to promote the soccer league. He added that both owners were excellent people to work with, but felt it was in the best interests of everybody involved if the team was sold and had a new stadium built.
Vergara was one of the original owners when the club entered the league as an expansion team back in 2005 and became a sole owner with Fuentes in 2012. Vergara said when he and Fuentes bought the club 15 months ago, they both hoped they would be able to turn its fortunes around.
They now realize that it will take a bit more time as well as additional commitment and funding. He added that he and Fuentes are also involved in other business ventures and didn’t think they’d be able to focus as much energy on the team that is required.
Vergara stated that they talked to other potential buyers, but felt in the long run it would be best to sell the club to the league. He feels this is the best option for everybody involved, including the fans and players.
In addition, MLS guaranteed Vergara that it would keep the franchise in the Los Angeles region and will make sure the new owners share that view. Vergara thanked Garber for his interest in buying the club and said the sale went smoothly.
At the moment, the Chivas USA team plays its home games in Carson, California at the StubHub Center. They have played at the venue since 2005 and will remain there this season.
The league would then like to see a new soccer-specific venue built for the franchise.
