Flávio Augusto da Silva, the majority owner of Major League Soccer (MLS) club Orlando City SC, has sold a minority stake in the team’s parent company to Albert Friedberg.

According to Forbes, Friedberg has purchased 8.63 per cent of Orlando Sports Holding for US$42 million, valuing the company at just over US$490 million.

As well as Orlando City SC, which debuted in MLS three years ago, the firm owns the Orlando Pride of the National Women’s Soccer League (NWSL) and the Orlando City Stadium, a US$155 million facility opened last year.

Friedberg is the founder and president of Friedberg Mercantile Group Ltd., a Toronto-based investment firm, and also serves as chairman and president of the FCMI group of companies, his family business whose interests span real estate, mining and forestry operations.

“I am delighted to be part of Orlando City SC, one of the best managed and most financially solid teams in MLS,” said Friedberg, who was born in Lyon, France and raised in Uruguay.

“I am extremely gratified to have partnered with Flávio, whose vision and integrity are legendary, and with his very experienced team. Under their able direction, Orlando City SC will be certain to share in the explosive growth that I see ahead for soccer in the US.”

Following Friedberg’s investment, which is understood to comprise a mix of cash and stadium debt, Da Silva will remain majority partner and chairman of Orlando City SC, a position he has held since acquiring the club in 2013.

"The US soccer market has shown signs of great strength, which we’ve seen at both the club and league level,” said Da Silva, whose stake in Orlando Sports Holding now stands at 78.96 per cent.

“We have been approached by interested investors over the years, but I committed enough capital to carry out each step of this project so far and kept expansion opportunities on the back burner.

“Today, however, we have taken the opportunity to become partners with an experienced and strategic investor in Albert, who, in addition to financial contributions, brings strong business and finance knowledge to help with projects that lie ahead for the improvement of our product on and off the field.”

Orlando City SC were ranked last year by Forbes as the fifth most valuable club in MLS, with a valuation of US$272 million.