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Vancouver Whitecaps owners, which include former NBA star Steve Nash, list MLS club for sale

The Vancouver Whitecaps are looking for new owners and <a href="https://www.whitecapsfc.com/news/ownership-statement" target="_self">intend to sell the club</a>, with Goldman Sachs being retained to advise on sale and transition options. The club which is owned by a group that includes majority holder Greg Kerfoot, executive chair Jeff Mallett, Steve Luczo and former NBA star Steve Nash, brought the club into MLS for a $40 million expansion fee.The club is now worth $470 million, according to Sportico, which is 27th out of the league's 30 teams.

WHAT HAPPENED?

"The owners of Vancouver Whitecaps FC – Greg Kerfoot, Steve Luczo, Jeff Mallett and Steve Nash – today announced the initiation of a process to sell the club. This decision comes after careful consideration of the club's journey and reflection on what is required to ensure its continued growth and success," the club said in a statement.Speaking on behalf of the ownership, Greg Kerfoot said: “Our group have been committed to transforming our local soccer club into a significant contributor to our community. It is gratifying to see how meaningful the Whitecaps have become to so many, and to have been able to contribute to the growth of a vibrant and thriving soccer community in Vancouver, the Lower Mainland, British Columbia, and beyond. The passionate MLS supporters, Academy development teams and players, the thousands of kids who attend camps, and the groups we support in nurturing the game in so many places have all proven out our belief in Vancouver as a first-class soccer market. The future of the Vancouver Whitecaps is bright.”

WHAT THE WHITECAPS SAID

“The Vancouver Whitecaps would not be where they are today without the vision and commitment of this exceptional ownership group. The Whitecaps are a terrific club in a world-class city," Garber said in a statement. "On behalf of everyone at Major League Soccer, I want to thank them for their tremendous contributions and look forward to working with them to identify new ownership for the club.”

WHAT MLS COMMISSIONER DON GARBER SAID

Vancouver is a historic franchise in the North American soccer landscape, with its roots tracing back to the <a href="https://www.cbc.ca/news/canada/british-columbia/whitecaps-intend-to-sell-1.7410158#:~:text=The%20Whitecaps%20FC%20website%20says,where%20it%20has%20played%20since." target="_self">NASL days in 1973.</a> Yet, commercial success has been difficult for the team to come by. The team reportedly made $45 million in revenue in 2023, <a href="https://www.sportico.com/business/team-sales/2024/vancouver-whitecaps-sale-goldman-sachs-kerfoot-estate-planning-1234820371/" target="_self">which was second-lowest in MLS.</a>Still, the team averages about 26,700 fans at BC Place. Yet, big decisions remain. The club's lease at BC Place ends after next season and despite that, the current owners are prioritizing buyers who want to keep the team in Vancouver.Sportico reported part of the reason why the team decided to sell is that majority owners Kerfoot and Luczo are in their mid-60s and are looking to offload assets.

THE BIGGER PICTURE

The team will push forward with its plans to sell, but the uncertainty could directly impact on the pitch matters for Vancouver. The team is currently also searching for a new manager and is also trying to improve a roster that turned some heads in the MLS postseason.

WHAT NEXT FOR VANCOUVER?

Vancouver Whitecaps owners, which include former NBA star Steve Nash, list club for sale, enlist Goldman Sachs to find buyers | Goal.com Uganda

The MLS franchise is estimated to be worth $470 million