Yo Gotti, a rap veteran from Memphis, Tennessee, continues to make powerful movements, and he now wants to acquire a soccer franchise. The CEO of CMG is said to be part of a group of large investors trying to enter the sports industry by buying a stake in the D.C. United soccer team. Eyob “Joe” Mamo, a petroleum executive in the Washington, D.C. region, is also part of the investing group. If the acquisition goes through, the consortium will own around 6% of the Major League Soccer organization.
The agreement is seeking league clearance, according to The Washington Post, and these investors would be the latest to join United’s ownership group. Houston Texans running back Mark Ingram II purchased a 1 percent share in the team in June, continuing the franchise’s pattern of selling minority stakes to celebrities.
The “5 Star” rapper hasn’t spoken much about the arrangement, although he was seen at the MLS All-Star Game last month, where he met with commissioner Don Garber. Yo Gotti, who has a talent for moving in the proper circles, has developed a friendship with D.C. United co-chairmen Jason Levien and Steve Kaplan over the last few years.
Gotti, whose real name is Mario Mims, has also been quietly making waves in the real estate world for numerous years, revealing on his most recent album Untrapped that he gained $20 million from several ventures and had to pay $8 million in taxes. Yo Gotti stated in June that he has secured a new label contract with Interscope Records to distribute the songs of his CMG label. The “Rake It Up” rapper’s label was formerly affiliated with Sony/Epic, with whom he parted ways after the release of his tenth studio album, Untrapped, last year. Moneybagg Yo, Blac Youngsta, 42 Dugg, and EST Gee are among Gotti’s stable of artists.