Orlando City owner Flávio Augusto da Silva reportedly discussing majority sale
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Orlando City owner Flávio Augusto da Silva has entered discussions for a majority sale of the club to the Wilf family, according to a report from The Athletic.
The family consists of three owners who lead the Minnesota Vikings in the NFL — Zygi Wilf as majority owner, Mark Wilf as president and Leonard Wilf as chairman.
The trio originally bid for ownership of Minnesota United, but lost out to current owner Bill McGuire. The Wilfs are now minority stakeholders for Nashville SC after buying into the club in 2017.
In order to complete a sale for Orlando City, the family would need to cede their holdings in any other MLS club. The MLS Board of Governors will also need to approve the sale if it is finalized between the two parties.
Augusto da Silva paid a $70 million expansion fee in 2015 to bring Orlando City into the league. He went on to self-finance the construction of Exploria Stadium, which is now valued at an estimate of at least $180 million.
Rumors of the club’s sale haven’t been uncommon the past few years. The Sports Business Journal reported a possible sale last October with a potential price tag of around $400 million.
In a 2019 interview with Brazilian outlet Estad 1/4 u00e3o, the owner said he was open to selling in order to focus on philanthropy when he turns 50 in 2022. During that interview, he said this transaction could be a majority or minority sale, or an option that allowed him to stay on the board.
The club has sold small stakes to deliver an infusion of cash to the Orlando City Soccer Holdings portfolio in past years, most recently selling a small minority stake to Jed Kaplan — a part-owner of the Memphis Grizzlies and English second flight side Swansea City — last September.
Previously in 2018, Augusto da Silva sold an 8.63% share — valued at $490.5 million — to Albert Friedberg, dropping his majority ownership to a 79% stake.
The Lions are preparing for their second season under coach Oscar Pareja and enters mandatory preseason training Monday.
This is a developing story. Check back for more details.
This article first appeared on OrlandoSentinel.com. Email Julia Poe at jpoe@orlandosentinel.com.
