@HoustonDash

The purchase of the majority ownership position of the Houston Dash and Dynamo by businessman Ted Segal has been completed, the teams announced Tuesday.

As reported in May, the price is estimated to be around $400 million for the two clubs and the teams’ business relationship with BBVA Stadium.

“As someone with a lifelong passion for soccer, having the opportunity to invest in professional soccer in Houston – a dynamic, diverse and growing city with such a storied history in professional sports is truly exciting,” Segal said in the release.

“I am squarely focused on building a winning organization – both on and off the pitch,” he continued. “As I get to know both teams, my primary objectives are to ensure they have the necessary resources to succeed at the highest level and to foster the Club’s connection to its community. I am very eager to engage with the staff, players and fans over the weeks, months and years ahead.”

A Tuesday press conference also revealed that Jamey Rootes, the former president of the Houston Texans, will be the new CEO of the Dynamo and Dash clubs.

The Dash currently sit at eighth in the standings with a game against league-leading Orlando Pride Saturday, June 26 at 8 p.m. ET.