MLS joins the billionaire club! LAFC becomes first United States soccer team worth 10 figures
- LAFC becomes billion dollar franchise
- Entered into MLS for $110m
- Won their first MLS Cup last season
WHAT HAPPENED? Off the back of undoubtedly the club's finest hour in their short, nine-year history in Major League Soccer, Los Angeles FC had more reasons to celebrate as they were named the first billion-dollar franchise in the league by Forbes.
THE BIGGER PICTURE: The Bennett Rosenthal co-owned outfit joined the MLS nine years ago for an expansion fee of $110 million. Their valuation showed a steady increase with Forbes estimating LAFC's worth to be $475 million back in 2019. Meanwhile, their current valuation suggests they have more than doubled their worth in just over three years' time. The report also mentions that LAFC posted $8 million operating profit in revenue last year and that sum is only going to increase in 2023 as they secured a $100 million stadium naming rights deal with BMO for a 10-year period.
AND WHAT'S MORE: LA Galaxy are breathing down their necks as they have been ranked second with a valuation of $925 million, while Atlanta United stand third at $850 million. DC United, managed by Manchester United legend Wayne Rooney, is in fifth spot with a valuation of $700 million and David Beckham co-owned Inter-Miami ($600m) failed to breakthrough in the top 10 by a whisker as they have been ranked 11th behind Charlotte FC ($625m).
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WHAT NEXT? LAFC are busy preparing for the new MLS season and will return to competitive action on February 25 against LA Galaxy at the Rose Bowl.