Beckham, who retired from the LA Galaxy, has an option in his contract to buy a franchise for a discounted $25 million, compared to the market rate of about $100 million, the Miami Herald reports.
Beckham began formally zeroing in on Miami for his expansion franchise last year.
According to MLSsoccer.com, the league confirmed Wednesday that Beckham has exercised that option and will seek to build his team in Miami.
Miami would need a new soccer stadium. The Miami Herald reports that plans for that are currently in the works, and Beckham's investors reportedly even hired a lobbyist to go after state funds if hey can't reach an agreement with the city.
MLS had a franchise in South Florida before -- the Miami Fusion played in Fort Lauderdale from 1997 to 2001 when the team was contracted along with the Tampa Bay Mutiny.
And Beckham's team wouldn't be the only one in Florida. The league announced last year that it will be back in the Sunshine State when Orlando City SC moves from USL Pro to MLS in 2015.