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New MLS club Los Angeles Football Club has unveiled their new celebrity co-owner.

“This is not a joke,” said movie star Will Ferrell.

I repeat this is not a joke.

Ferrell announced “I actually am a member of this fine ownership group.”

The new MLS franchise will join the USA's top football competition in 2018 and replace Chivas USA as the second side in Southern California.

Alongside Ferrell, LA FC is co-owned by Cardiff City owner Vincent Tan as well as American venture capitalist Henry Nguyen. Basketball legend Magic Johnson is amongst other high-profile minority investors.

Read more at FoxSports.com.au