The deal that would make boxing legend Oscar De La Hoya and his business associate Gabriel Brener part-owners of the Houston Dynamo is "essentially done," according to the Houston Chronicle. The proposed deal was widely reported earlier this week and will be finalized on Friday. De La Hoya and Brener, a Mexican investor partner in Golden Boy Promotions, the boxer's company, will each own acquire a 25 percent stake in the Dynamo from the club's current owner, Anschutz Entertainment Group. Team president Oliver Luck confirmed the deal with the Chronicle on Tuesday, the day after negotiations closed. The pair's combined investment is estimated at $20 million.
The team will celebrate the arrival of their new part-owners in a formal welcome rally at Jones Plaza in downtown Houston, Friday at 11:30 a.m. AEG, which also owns the Los Angeles Galaxy, will retain a 50 percent share in the two-time defending MLS Champ, and will remain the controlling shareholder.
Asked what changes the new owners might bring, Luck answered, "I think eventually they will want to weigh in on personnel and talent. But at this point the message I get from them is, let's keep doing what we have been doing for the last couple of years." The Dynamo players return to practice today after their second-place finish at the Pan-Pacific Championship in Hawaii. New signing Franco Caraccio will be unveiled to the media after practice.