Ted Segal, the founder and president of real estate development and financing company EJS Group, is close to acquiring a controlling stake in Houston Dynamo FC and the Houston Dash for around $400 million, sources have confirmed to ESPN.

Houston TV outlet Fox26 and Sportico were the first to report the news.

- Stream ESPN FC Daily on ESPN+ (U.S. only)
- ESPN+ viewer's guide: Bundesliga, Serie A, MLS, FA Cup and more

The deal doesn't include BBVA Stadium and the Dynamo's training facility, which are owned by the Harris County-Houston Sports Authority and the city of Houston, respectively.

Asked for comment, a Dynamo spokesperson released the following statement: "Our ownership group receives inquiries about the Club from interested parties on a frequent basis and has for quite some time. These inquiries are private in nature, and we respect the privacy of those individuals. Our club will have no comment on any reports."

The sale will see the portion of the team controlled by previous majority owner Gabriel Brener reduced to a minority stake. He first acquired a portion of the club in 2008, and then acquired a controlling stake from previous owners AEG in 2015. Former boxing star and current promoter Oscar De La Hoya and Brooklyn Nets forward James Harden will retain their stakes in the club.

The Dynamo's first season in MLS came in 2006 after the San Jose Earthquakes were moved to the Bayou City. Building off of a San Jose team that routinely challenged for titles, the Dynamo enjoyed immediate success, winning MLS Cup in both 2006 and 2007. The team later reached MLS Cup finals in 2011 and 2012, losing to the LA Galaxy on both occasions.

Since then the team has fallen on hard times both on the field and at the gate. The Dynamo has reached the MLS Cup playoffs in just one of the last seven seasons, and after reaching a peak average attendance of 20,985 in 2012, that mark had fallen to 15,674 during 2019.

The Dash has fared better of late, winning the NWSL Challenge Cup in 2020. The team will face Barcelona, Lyon, and the Portland Thorns in the 2021 Women's International Champions Cup (WICC) to be held Aug. 18-21 at Providence Park in Portland, Oregon.

Both Houston teams underwent a rebrand in late 2020.

The Dynamo is the second MLS team to be sold in the past month, with the Wilf family acquiring Orlando City SC. Real Salt Lake is also up for sale.