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that the potential of the U.S. and Mexico, each one separately, is enormous, but if they could come together, it would be incredible. In the past, FIFA has ruled against regional leagues, but the governing body has softened that stance a bit since Infantino took control in 2016. Los Angeles FC ranks first at $860 million, while the Colorado Rapids rank last at $370 million. You discount that and thats why the value is fairly high today.. Spend enough time discussing these issues on social media, and youll inevitably see some chatter that MLS is in a bubble, that the growth narrative will fade and club values will fall when expansion ends if the league doesnt capitalize on 2026 that the reality on the ground will actually begin to matter when it comes to valuations. Because then a large set of owners will continue to enforce a lid on spending.. Billionaires have long believed in the potential of MLS. Rosenthal, who fell in love with soccer while managing his daughters team, and Apollo Global Management partner Larry Berg, who played the sport from age 8, became LAFC minority owners in 2014. Several have completed eye-popping MLS deals in recent years, with one of the more notable transactions coming just a few months after Mansueto gained full control in Chicago. New England Patriots owner Robert Kraft and entertainment mogul Philip Anschutz were among MLS original owners, and a slew of othersincluding Tepper, Morningstar founder Joe Mansueto (Chicago Fire, 2018) and Qualtrics Ryan Smith (Real Salt Lake, 2022)have since gotten in the game and driven up team values. But MLS has the potential to explode talking about double-digit growth rate., And there is a massive event on the horizon that could serve as a once-in-a-generation vehicle to supercharge that growth: The 2026 World Cup that will be co-hosted by the U.S., Canada and Mexico. The next round, for MLS team No. And so I think live sports will continue to have a good future. Managing owners Bennett Rosenthal of Ares (bottom right), Larry Berg of Apollo (top left) and Brandon Beck (bottom left) of Riot Games rotate as team head every four years. Houston Dynamo FC were sold in June, and the Orlando City SC sale process should wrap this month. Sportico's MLS Valuations MLS might not shoot the moon in its next broadcast agreement, but, considering sports media rights are ballooning all over the world, the league is betting that it will eventually land a massive deal. All agree, however, that MLS has the power to make its product more compelling. Any of the above scenarios could end up coming true. Entry fees have risen dramatically since Orlando City and New York City FC entered the league just six years ago. Thats a payment of more than $70 million for just 10 percent of the club. Those arent the sorts of prices a sports banker would arrive at given the financial performance of a typical MLS team. I think you could say, You know what, the World Cup is kind of its own thing. It was a little bit more of an oddity back in the 90s when no one here knew what soccer was, but now Messi and Ronaldo and Neymar, these people are household names in the U.S. And so whether or not its going to float all the boats of all the MLS teams is not as much of a slam dunk as a lot of people think.