U.S. investment fund Innovatio Capital has acquired Liga MX side Gallos Blancos de Querétaro for about $120 million, one of the largest recent cross-border deals in Mexican football. The purchase from Grupo Caliente, controlled by businessman Jorgealberto Hank Inzunza, was completed on 10 June and announced on 11 July, coinciding with the club’s 75th anniversary. The Mexican Football Federation had earlier approved the transfer of the league certificate to Solaz Deportes y Entretenimiento, the new holding company for the team. Innovatio Capital president Marc Spiegel said the fund—whose strategy relies on data-driven talent identification—views Liga MX as a platform for long-term growth and aims to strengthen Querétaro’s on-field performance. The club, last in the relegation coefficient two seasons ago, will debut under its new owners in Friday’s Apertura 2025 opener against Tijuana. The deal further erodes Liga MX’s contentious multi-ownership model; Grupo Caliente now retains only Club Tijuana in the top division. Foreign capital has been steadily moving into the league, following U.S.-backed investments in Necaxa and other clubs.