David Beckham has confirmed that he is the owner of a Miami-based MLS franchise.

The ex-England captain made the announcement alongside MLS commissioner Don Garber and the Mayor of Miami-Dade County Carlos Giminez at a press conference in Miami this afternoon.

"This is an exciting time for me and my family," the former Manchester United, Real Madrid and Los Angeles Galaxy midfielder told reporters.

When asked why he had picked Miami among a number of other cities, Beckham replied: "Why not? All joking aside, I wanted to create a team that we could start from scratch. Going forward, I wanted to create something personal. The decisions that I have made in my career have all been personal. I want to make it my own team. I have great partners - like Simon Fuller, who introduced me to my wife.

"I know this city is ready for soccer. To be successful, you have to work hard. I'm going to work hard for this city. I'm looking forward to spending a lot more time here. It's an exciting time."

Meanwhile, Garber added: "What an incredibly historic day for Major League soccer. This is the first time in the modern era that an athlete is joining the ranks as an owner. As a player and ambassador for MLS he's had an amazing impact on our league. He helped motivate champions like Thiery Henry come to the MLS."

It is believed that 38-year-old Beckham has paid £15m for the franchise, which is a quarter of the price that most new clubs have to pay.