Former UnitedHealth CEO William McGuire is the new owner of the Minnesota Stars, a minor league soccer franchise from the North American Soccer League, MPR reports. McGuire bought the team for an undisclosed amount.
The wealthy business leader headed Minnetonka-based UnitedHealth for 15 years, the Star Tribune says.
In 2006, McGuire was forced out after he became involved in a Securities and Exchange Commission investigation for backdating stock options that rewarded him and other company execs with inflated gains.
The fate of the Stars is uncertain since the team was nearly disbanded. The Minnesota Vikings have the rights to bring a Major League Soccer team to Minneapolis with the creation of the new football stadium. Vikings Vice President Lester Bagley told MPR that it's a "back-burner issue."