In this file photo boxing promoter Oscar De La Hoya presides over a news conference promoting the title fight between WBC welterweight champion Floyd Mayweather Jr. of the U.S. and Ricky Hatton of England at the MGM Grand Hotel and Casino in Las Vegas, Nevada Dec. 5, 2007. (Xinhua/Reuters Photo) Photo Gallery>>>

    BEIJING, Feb. 27 (Xinhuanet) -- U.S. boxing champion and promoter Oscar De La Hoya is on the cusp of branching out into Major League Soccer by buying into the Houston Dynamo, according to a published report Tuesday.

    De La Hoya and business associate Gabriel Brener have been in talks with Dynamo owner Anschutz Entertainment Group about taking on "major roles" in the running of the franchise, according to the Houston Chronicle.

    "We have been negotiating with Oscar and Gabriel, and those negotiations are quite far along," AEG spokesman Michael Roth told the Chronicle. "Negotiations have been progressing quite rapidly in the past few days, and we believe when Oscar comes to (Houston) to meet with us on Friday we could formalize and finalize the deal."

    According to the Chronicle, De La Hoya and Brener are likely to buy 25 percent of the franchise each, leaving AEG with the remaining 50 percent interest.

    De La Hoya, a former Olympic and world champion, told KBME radio he is "absolutely excited and thrilled about getting involved with the Dynamo."

    The Dynamo have won the last two MLS Cup titles, and the franchise is valued at 40 million U.S. dollars.

    AEG, which once owned six MLS teams, has been selling them off to focus on the Los Angeles Galaxy. Last year, it sold DC United for 33 million dollars, leaving only Los Angeles and Houston on its books.

    In recent weeks, AEG has made progress in securing a new stadium for the Dynamo, and the Houston city council is due to vote this week on whether to set aside 15.5 million dollars to buy a parcel of land close to downtown for the facility.

    (Agencies)