Major League Soccer's Most Valuable Clubs 2023: LAFC Is The First Billion-Dollar Franchise by JustinBirnbaum
“It’s less of a financial hurdle to control an MLS team than [in] some other sports, so you do see more people who can do it,” says Rosenthal, who is worth an estimated $1.3 billion. “But I think people love it. They want to be a part of the community and the trajectory.”estimates there are at least 19 billionaires or members of billionaire families who have key ownership stakes in MLS franchises.
Rosenthal, who fell in love with soccer while managing his daughter’s team, and Apollo Global Management partner Larry Berg, who played the sport from age 8, became LAFC minority owners in 2014. The two knew each other well from the private equity world and had together invested in Italian soccer club A.S. Roma. “To be honest,” Berg says, “MLS wasn’t really sexy yet.
Those investments have paid tremendous dividends. LAFC has sold out every MLS regular season and playoff match since its first kickoff in 2018. Celebrity superfans are frequently seen in the stands, with Justin Bieber and Wiz Khalifa attending the MLS Cup in November. And LAFC turned an estimated $8 million operating profit on a league- high $116 million in revenue last year.
Even more crucial is MLS’ new media rights deal with Apple, which has unified the league’s local and national broadcast rights under one umbrella. Per the arrangement, MLS is guaranteed at least $2.5 billion over 10 years, and possibly more based on subscriptions. It’s a big payday, but less than the $300 million annually the league reportedly expected, especially given that MLS must pay the production costs.
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