The announcement was made at an event held in Miami's Adrienne Arsht Center, featuring the club's ownership group comprised of local and global entrepreneurs who have an agreement in place to build a world-class soccer stadium: global soccer icon and former MLS player David Beckham; Sprint CEO Marcelo Claure, SoftBank board member and longtime Miami resident and entrepreneur; Jorge and José Mas, the Miami-based leaders of telecommunications and construction giant MasTec; Masayoshi Son, founder and CEO of SoftBank; and entertainment entrepreneur and manager Simon Fuller.
"It is with tremendous pride that we welcome Miami to Major League Soccer", said MLS Commissioner Don Garber in a statement.
Beckham exercised his option to buy a franchise for a discounted fee in 2014, but it took almost four years to join the league.
"This ownership is committed to bringing Miami the elite-level soccer team, stadium and fan experience it richly deserves".
"I think the fact that it has taken this long, the fact that it's taken four years actually has worked as a positive", he added, saying he has been able to develop a deeper understanding of the city and its fans.
About 60 days ago we were done so we met David in NY to say goodbye but we just looked at each other and we couldn't stop trying to get Major League Soccer to Miami, said Claure.
There was no word Monday on the team's official name nor the colors it will play in. With Miami set as team No. 25, MLS plans to choose Cincinnati, Sacramento or Detroit as its 26th club in the coming months. Other members of Beckham's group include Sprint CEO Marcelo Claure, entertainment entrepreneur Simon Fuller and South Florida businessman Jorge Mas - who tried unsuccessfully to buy the Miami Marlins past year. The Miami Fusion played from 1998 to 2001, but the team folded because of poor attendance.
"This is our site", Beckham told Channel 10.
Los Angeles FC will kick off as the league's 23rd franchise this season, with Nashville confirmed as the 24th club last month.