HOUSTON -- According to Houston Dynamo President Chris Canetti, the club is staying under the AEG umbrella.

Local media outlets have reported that the Dynamo were in negotiations to be sold to Houston Rockets owner Les Alexander. Commenting on the potential sale for the first time, Canetti put those reports to rest saying the Dynamo will be staying with their current ownership group.

“There is not going to be a sale of the Dynamo,” Canetti told MLSsoccer.com on Saturday. “Our owners received an offer and evaluated and negotiated the offer but ultimately concluded that they are not going to accept it. They will continue to own the team and remain committed to both the team and stadium. They believe in both the team and stadium and are committed to their future.”

MLS stated in late 2011 that it would prefer the Dynamo be under local ownership. News broke in August of this year that Alexander had made an offer to AEG and co-owners Gabriel Brenner and Oscar De La Hoya to purchase the club and the rights to BBVA Compass Stadium.

This is likely just the beginning of discussions regarding ownership of the Dynamo. Reports earlier this week revealed that AEG itself is up for sale. So while ownership of the Dynamo will not be turned over to Alexander at this time, their ultimate destiny seems far from determined.

Darrell Lovell covers the Houston Dynamo for MLSsoccer.com.