Major League Soccer’s Los Angeles FC is condensing its ownership and looking for more money.
The team, which had around 30 investors at the beginning of 2022, spent a chunk of the past season buying out more than a half-dozen minority owners, according to Sportico.
- Mandalay Entertainment vice chairman Paul Schaeffer, Universal Tennis chairman Mark Leschly, and Golden State Warriors executive Kirk Lacob are reportedly among the owners who sold their stakes.
- Ares Management co-founder Bennett Rosenthal recently took over as the team’s official governor for the next four years, replacing Apollo Global Management senior partner Larry Berg.
- The pair are managing owners with Riot Games co-founder Brandon Beck.
LAFC is also reportedly raising funding at a valuation of nearly $900 million, making it the most valuable MLS franchise.
Rosenthal said he plans to prioritize international opportunities, and that the team is “putting the finishing touches” on a new stadium rights partnership for its $350 million venue.
In 2020, former stadium rights partner Banc of California paid a $20.1 million fee to end its naming rights deal 12 years early.
Valuation Station
LAFC’s neighbors are also aiming for a lofty valuation.
Julie Uhrman, president of the NWSL’s Angel City FC, recently told The Athletic, “we’re going to be the first women’s team to have a billion-dollar valuation in five years.”
