Upon hearing the official news of Beckham's venture into ownership, Arena believes the presence of the former Manchester United, Real Madrid, AC Milan and Galaxy star gives it a genuine chance of being a hit.
"He'll do well," said Arena who coached Beckham to two MLS Cups during the Englishman's six-year spell in California.
"I don't know exactly how that ownership group is set up, but David's presence in that market will make it a legitimate product and give it the best opportunity to succeed in Miami."
Arena added: "I think it's called David Beckham.
"It's charisma. He's a global brand, he brings credibility to the marketplace for MLS. You know, that's hard to do. There's not many people in this sport or in the world that have his brand, and I think it's going to make for an exciting venture there and, hopefully, a successful one."
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