David Beckham Just Spent $50 Million To Buy The Rest Of His Company (A $150 Million Valuation!!!)
David Beckham had an accomplished career on the soccer field, but he isn't done making a big impression. He formed what's now known as Beckham Brand Holdings in 2014, alongside his business partner Simon Fuller and a few other investors. That group owns the expansion MLS team Inter Miami CF, who will begin playing in 2020. For now, Beckham is betting big on himself.
Beckham reportedly purchased a one-third stake in Beckham Holdings for $50 million. That puts a $150 million valuation on his company. Beckham bought out the minority stake held by Fuller, who earned a majority of his fortune from creating American Idol. Beckham and his wife Victoria now have full control of the company.
It's the latest move for Beckham's brand, which has flourished ever since he began playing in the MLS. As part of his joining the Los Angeles Galaxy in 2007, Beckham was able to purchase his expansion team for the massively discounted price of $25 million.
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Beckham made $50 million over his five-year deal, double what he ultimately paid to own a team. Coincidentally, it's the same amount he's using to now gain control of his whole company.
Beckham Brand Holdings made $72.4 million in revenue, keeping $16 million as profits for the 2017 fiscal year.
The company has 10 holdings, including Victoria Beckham's fashion wholesale, retail, and e-commerce businesses, Beckham Brand Limited, Miami Properties LLC, and Miami Beckham United LLC.
The 44-year-old hasn't played a soccer match since 2013. But he's hardly been silent since hanging up his cleats. Now that he and his wife own the entirety of their company, they'll get to work on building up their combined net worth of $900 million.
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