LAFC Wants More Money, Fewer Owners

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.”