The Philadelphia Union has a new minority owner in Richard Leibovitch, the founder of Arel Capital in New York City, writes John George for the Philadelphia Business Journal.
“This was a unique opportunity to become part of the Union ownership and to join with majority owner Jay Sugarman and the other owners in building on the strong foundations that have been put in place,” said Leibovitch. “I hope to play my part in helping us achieve our ambitious goals.”
The Union has also announced that minority owner Rich Graham and the Graham family have increased their investment in the MLS team. This includes a multi-year youth development commitment. Five “homegrown players” have already been signed to the club’s first team in the last two seasons.
“We’re excited to step up our investment in Major League Soccer,” said Graham. “I wholeheartedly believe in our local talent pool, and I am thrilled to be a part of a club that is passionate in seeing a future where the quality of Philadelphia’s homegrown soccer players rivals that of any in the world.”
Union owner Keystone Sports and Entertainment also signed an expanded youth development agreement with YSC Sports, the home of the team’s youth training academy.
Read more about the Philadelphia Union’s new minority owner in the Philadelphia Business Journal by clicking here.