Major League Soccer (MLS) is nearing a change to its ownership rules, allowing investment funds to take minority stakes in clubs, according to Sportico, reports, www.sportspromedia.com/.

The move would enable teams in North America's top soccer league to have better access to funds at a time when revenue is down as a result of Covid-19.

Sportico's report says the change is 'expected' to be ratified, which would see MLS join the National Hockey League (NHL) and Major League Baseball (MLB) in allowing private equity ownership.

Limitations will reportedly be imposed on how much of a given club can be owned, as well as how many teams can be included in a portfolio.

Typically, MLS owners have been wealthy individuals, while franchises eyeing extra cash have traditionally had to source more minority investors or perform capital calls on existing partners. The option of allowing investments funds to come on board would provide a third option amid the current financial uncertainty.