Seems contrary to the spirit of being an investor. That discount expansion fee should have come with the stipulation of Beckham being the majority stakeholder.
I don’t think MLS foresaw the expansion value rising exponentially at that time. They were more worried about keeping the league afloat. I also don’t think they foresaw Beckham waiting 8 years after his career was over, or 13 years from when he made the agreement to start his franchise. You’re absolutely right about what you wrote above. And if the agreement was drafted decently, all of what I just wrote wouldn’t matter. But that’s MLS for you...