The Houston Dynamo's part owner Anschutz Entertainment Group (AEG) turned down Houston Rockets owner Leslie Alexander's bid to buy the MLS club on Saturday.
Dynamo President Chris Canetti said, "They evaluated the offer, "At the end of the day, they determined that they're not going to accept the offer. "(AEG) reiterated the commitment to the team and the stadium and the belief in both properties and are committed to both entities."
After more than a month of the negotiations' final stages, AEG decided to pass on Alexander's final offer for the team and the 30-year lease on BBVA Compass Stadium, which opened in May.
AEG, which itself was put up for sale earlier this week, owns 50% of the Dynamo, with former world champion boxer Oscar de la Hoya.