The MLS has taken over the ownership of Chivas USA, effective immediately.
As reported on the official MLS website, the league has purchased the struggling Los Angeles franchise from former owners Jorge Vergara and Angelica Fuentes and are now responsible for club operations.
The team will continue to play under the 'Chivas USA' brand and image for the 2014 season but will be rebranded when a sale to a new owner is completed.
Vargera and Fuentes came together as duel owners in 2012 and the former spoke of his belief that the franchise will be a success in Los Angeles in the long term:
"MLS has assured us they are committed to keeping the club in Los Angeles and finding the right owners to make the team successful in the future," he explained.
Chivas finished bottom of the Western Conference last season and have struggled to find success in their current form, both on and off the field.
They begin the 2014 campaign on March 9 with a fixture against the Chicago Fire.
Meanwhile the league hopes to find new owners- who share thier vision for the franchise and are committed to building a new stadium in the area - sometime in 2014.