David Beckham’s fledgling MLS club is homeless no longer.

The former England captain announced on Friday that his group of investors has acquired a site to build a privately financed stadium in the Overtown district of Miami.

“Miami Beckham United has secured a stadium development site at 650 Northwest 8th Street in the City of Miami’s historic Overtown neighborhood,” Beckham’s investment group said in a statement. “We intend to create an assemblage of private and County-controlled land totaling approximately nine acres in Miami’s urban core, within walking distance of multiple public transit options and the up-and-coming Miami River District.

“The private properties, which comprise the majority of the land, are under contract and we intend to purchase the County land at fair market value pending approval of our site by the MLS Board of Governors.”

The announcement comes one day before the league’s Board of Governors is due to convene in Columbus, where the MLS Cup final will take place on Sunday afternoon.

The timing is hardly accidental: the Orlando Sentinel reported on Thursday that MLS commissioner Don Garber suggested that Sacramento threatened to overtake Miami in the expansion queue to become the league’s 24th team.

“This will be the most responsible stadium development in Miami history,” the statement continued. “Construction of our venue will be privately financed and we will work with Miami-Dade County Public Schools to establish our club as an educational resource for the community. We will also engage nearby businesses and residents as we develop our stadium design and take steps to enhance the neighborhood.”

Beckham’s designs on bringing a team to Miami have remained largely on hold since he exercised a contract option to purchase an MLS club in February 2014 for $25m, a discounted franchise fee negotiated when he signed with the LA Galaxy in 2007.

The biggest obstacle for Beckham, whose investment group includes long-time business associate Simon Fuller and Sprint CEO Marcelo Claure, had been settling on a downtown site for a soccer-specific stadium.

Should the Board of Governors approve the site, it’s thought Beckham’s team could enter the league alongside Los Angeles FC for the 2018 season, with Atlanta United FC and Minnesota United FC expected to join in 2017.

