David Beckham has confirmed that he is moving into ownership.

The former England captain is part of a consortium that plan to create an MLS franchise, which will be based in Miami.

As part of his move to LA Galaxy in 2007, Beckham had an agreement with the MLS that would allow him to buy an MLS expansion team for $25 million.

"I wanted to create a team that we can start from scratch," said Beckham at today's press conference. "

I want to make this my own team. I am going to work hard for this city to make this team very successful. It is an exciting time."