Bundesliga leaders Bayern Munich and MLS Cup champions Los Angeles FC will form a joint venture in a bid to bolster their respective player development efforts, the clubs announced Monday.
The venture, which the two organizations are calling a “global soccer development cooperation” is named “Red&Gold Football” and will be based in Munich, Germany. Each club will own 50% of the venture’s shares.
“A partnership of this magnitude is the next step in our evolution as a club,” LAFC co-president and general manager John Thorrington said in a statement. “We are extremely excited to work together with FC Bayern to identify and develop young talent in southern California and beyond and believe this relationship will provide players throughout our systems the ability to maximize their potential and see a clear pathway to first team football.”
