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Article: Local Group Pays $26 Million for United
- Article from:
- The Washington Post
- Article date:
- July 29, 2005
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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D.C. United got itself a new group of investors yesterday, a $26
million deal that will shift the club's operating rights from
billionaire Phil Anschutz to locally based Global Sports and
Entertainment. In the process, United hopes the long-awaited sale
will accelerate plans for a proposed medium-sized soccer stadium at
Poplar Point in Anacostia.
The new group is led by Kevin Payne, United's president and chief
executive offer, who will maintain control of the club's front
office. Willi Lauterbach, a German-born real estate investor who
lives in Northern Virginia, and Tim Kissler, a former executive with
prominent Washington developer John Akridge Co., were introduced as
part of the ...