According to the Daily Mail, David Beckham has moved on to the final round of negotiations to start a new MLS franchise based in Miami, Florida.
The ex-England legend has had a long-standing interest in owning an MLS franchise, with Florida an area the sport is keen to expand in.
Super-rich Manchester City and the New York Yankees have already been successful in the creation of a new franchise - New York City FC - to be added to the MLS team roster for the start of the 2015 season.
MLS previously had two teams in Florida - the Miami Fusion and the Tampa Bay Mutiny - before a limited budget and talent pool caused the MLS to retract from 12 teams to 10.
The MLS are keen to expand again, however, with 24 teams the target for 2020. This would make the MLS the biggest top-flight league in the world. Beckham aims for his Miami franchise to be one of the teams added in 2020.
Beckham had a clause in his LA Galaxy contract that allowed him to start an MLS franchise at 25% discount, which along with Beckham's name and brand would make an attractive prospect for investors. New York City FC's entry fee to the MLS was around $100m (£62m).
The most likely home for Beckham's new franchise is the Florida University Stadium in Miami.