LAFC valued at $700m, setting Major League Soccer record
According to Bloomberg, Los Angeles Football Club have reached an all-time-high valuation for Major League Soccer franchise in the leagues 25 years.
LAFC have done things right since day one and six years later they are not only the best team in Major League Soccer but now they are valued at more than $700 million, according to Bloomberg.
The 30-person ownership group have bought out Malaysian businessman Vicent Tan’s 20% stake recently in a deal that values the club at $700 million, the most ever for an MLS team, according to people familiar with the situation.
The agreement has not been made public because the group of owners plan to buy the other half internally as well. In November 2019, LAFC were valued at $480 million, behind only Atlanta United, who were valued at $500 million.
The move comes amid reports that Tan, the founder of Malaysian consumer marketing group Berjaya, wants to call back on their soccer portfolio, including the sale of English Football League club Cardiff City.
Who owns LAFC?
The team from Los Angeles is controlled by a trio of owners - Apollo Global Management senior partner Larry Berg, Ares Management co-founder Bennett Rosenthal and Brandon Beck, co-founder of Riot Games. LAFC also has multiple owners that include ex-Laker Magic Johnson, actor Will Ferrell, co-founder of YouTube Chad Hurley and former USWNT player Mia Hamm, amongst other successful businesspeople.
Great start of 2020 season
LAFC are the favourites to win the MLS Cup this year and started the 2020 season by defeating Inter Miami at the Banc of California with a great goal by their captain Carlos Vela, the league's reigning MVP.
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