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Los Angeles Football Club is the working name of an upcoming American professional soccer team based in Los Angeles that is expected to compete in Major League Soccer(MLS) starting in 2017. The team was announced in October 2014. The team will compete with LA's existing soccer team, the LA Galaxy. The team's ownership includes stars like Earvin "Magic" Johnson, Mia Hamm Garciaparra and Tony Robbins, but is led by businessmen Henry Nguyen and Peter Guber, according to an MLS press release. The ownership group has announced its desire to play in a new, $150 million 22,000-25,000 seat stadium in the greater Los Angeles area. The team is considering the site of the Los Angeles Memorial Sports Arena as a potential site.