Despite the poor start to the season Orlando City are having, there is good news as the club has received some new investment for in exchange for a small stake.
Orlando City owner Flavio Augusto da Silva has sold a minority stake in the Lions to Albert Friedberg of the FCMI group of companies.
The investment is a total of 8.63% of the OCSC, and the sum that Friedberg had to part with was $42.33 million based on the Lions’ $490.53 million total valuation.
This investment still leaves Da Silva as the majority holder by some distance as he still has 78.96 percent stake in the team. The other 12.41 percent is owned by other minority stakeholders.
OCSC has enjoyed some serious investments since they entered the MLS in 2015, among them are their own privately-funded stadium and the acquisition of a women’s team – Orlando Pride.
This new investment is expected to help the team expand and build more towards the future and the Da Silva seems to agree with that.
"We've been working the last four years building everything in the club," Da Silva told ESPN FC. "We had the capital to do that. Everything is done, and financially we're in good shape.
"Now is the time to [expand] our ownership and bring more people to the projects we have in the future. Albert is a smart and experienced guy, not only with the money he's putting into the club but also his knowledge and experience in business. It's always good for us strengthen our ownership."
"It's very important money for us because we are organizing our financials," Da Silva said. "We have just built the stadium, but we also have some financing that we need to restructure."
Friedberg is a Canadian entrepreneur and the founder of the Friedberg Mercantile Group Ltd who are based in Toronto.