At a press conference in Chester, Pennsylvania - where the new team will play - Garber introduced an ownership group led by real estate investor Jay Sugarman and founding MLS executive Nick Sakiewicz, a two-time MLS Executive of the Year who has previously worked for the Tampa Bay Mutiny and the MetroStars franchises.

The new team will take the field in 2010.

"It only took us 12 years to bring the world's most popular sport to the City of Brotherly Love," said Garber.

"We wanted to bring a team in this region since the league was founded in 1996."

One of the main attractions of Philadelphia, aside from its status as the fourth-largest metropolitan market in the United Status, is the regional rivalries the franchise can create with the New York Red Bulls and DC United.

"Imagine what it is going to be like when your regional rivals from the New York Red Bulls and DC United come to Philly," Garber told hundreds of fans in attendance.

The new team already has a clear market for season tickets, as Philadelphia has had its own MLS fan group for the last year despite not having a team.

The Sons of Ben, founded by Bryan James, has around 1,500 registered members.

Also at the launch was Pennsylvania Governor Ed Rendell, who last month gave the bid a major boost by providing support for a soccer-specific stadium to be built on the Chester waterfront.

Rendell committed $47 million of state money to a revitalisation project worth around $500 million, with the 20,000 seat stadium as a centrepiece.

Rendell said the new team and the surrounding development project "will revitalise the city of Chester, bringing it to heights it hasn't ever attained."

The new ownership group plans to hold a competition to name the team. Philadelphia had been battling St. Louis for the next MLS franchise.

"St. Louis is one of the leading candidates we are considering and we are hopeful that all elements will come together soon for the city to join the League," Garber said.

During his State of the League address prior to the MLS Cup in November, Garber had said that, as it stood then, St. Louis was ahead in terms of its stadium proposal. But the league preferred the ownership set-up in Chester.

When Rendell gave back to the stadium plan, the balance was tipped in Philadelphia's favour.

MLS is expanding to 14 teams this season with the addition of the San Jose Earthquakes, while Seattle will join in 2009.

When the new team kicks off in Chester in two years, it will be the sixth franchise to have joined since 2005.

Garber has stated a desire to have 18 clubs in the league by 2011, with Miami hoping it can join alongside St. Louis in the next round of expansion.