Hi Reader,

Welcome to this week's round-up of the main news in North American soccer business. A special welcome to all new subscribers - don't forget to subscribe to our podcast too on your preferred platform.

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Let's get right into this week's content.

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Cheers

Simon Evans

The Soccer Business.

Messi's legacy - more equity deals for players?

Inter Miami owner Jorge Mas gave some interesting detail to news agency Bloomberg in a recent interview where he stated that he pays Lionel Messi $70-80 million a year "across everything". That's interesting detail because we know that in terms of salary, the Argentine has a guaranteed compensation of $20,446,667, according to the salary guide released by the MLS Players Association. We also know that Messi's deal with Inter Miami includes an equity element.

So if the rest of what Mas is paying to Messi is actually in equity, that means he is receiving around $50-60 million per year in stakes in the club. He joined the club in July 2023 and last year signed a new extention through the end of 2028. By the time he retires Messi could therefore have something in the range of 20-25% ownership of the club which has been valued by Sportico at a league high $1.45 billion.

It does leave us with the thought as to whether such deals could prove to be MLS's secret weapon in future attempts to lure Europe-based stars to the league? After all, the one thing that MLS does have over many European clubs is the high valuation of the franchises and a stable, closed structure, which means investors are also, de facto, buying into the league. Offering stars the chance of a piece of the pie could be a powerful sweetener.

It was a different version of an equity deal which secured the services of David Beckham when he joined LA Galaxy from Real Madrid in 2007. Beckham's deal included the right to create a future franchise and he took that option and used it to create Inter Miami with the Mas Brothers. Now Beckham shares ownership with Messi - completing a near 20 year span in which the equity option has led not only to Beckham boosting the league's profile but to the creation of the league's most valuable club featuring the world's biggest name player.

Post-World Cup we could see some attempts by MLS clubs to capture the buzz by bringing in some big names from the tournament. A late career player like Harry Kane might not be too tempted yet by the chance to play for an MLS team, but would the chances of him leaving Germany for somewhere like San Diego be increased if he was offered a stake in the club?

Could a club trying to tempt a Kylian Mbappe, a Vinicius Junior or eventually a Lamine Yamal, take a similar approach? Probably not every easily. You would imagine it would have to be a player who moved the needle massively in terms of exposure and had a similar impact to Messi in terms of commercial and sponsorship revenue in order for an MLS club to offer a minority ownership role. But it is a highly powerful weapon for clubs to have at their disposal and you can certainly imagine agents requesting such an option as part of negotiations.

Carlos Vela's move into the ownership group of LAFC this week is a reminder that players are increasingly looking to investment as a viable post-career option. David Villa (a former NYCFC player) just joined the ownership of Atletico Madrid as part of their recent changes. Cristiano Ronaldo recently acquired a 25% stake in Spanish Segunda Division club US Almeira. Cesc Fabregas is invested in Italy club Como and the trend is evident in the lower levels in the USA with Jozy Altidore recently becoming involving in the new USL club in Oklahoma City.

Whether or not clubs choose to use equity as part of a deal, it is clear that the days of the player-investor are upon us. The options for a player in their 30's are no longer limited to putting on the tracksuit and coaching the youth team. It is the same across sports and it would be no surprise to see some of America's stars from the NFL and NBA look to invest in soccer. We have seen signs of it already such as LeBron James dabbling at Liverpool and WNBA player Sabrina Ionescu investing in NWSL club Bay FC.

It wasn't so long ago that celebrity/athlete minority stakes were seen as little more than 'influencer deals' but the Messi situation shows there is a scale. Yes, at one end, we see some athletes offered a small stake in return for promotional work as a 'co-owner' but at the other end of the spectrum is a player owning close to a quarter of a club worth $1.4 billion. The times are changing.

New NWSL season - hopes and goals

The 14th season of the National Women's Soccer League gets under way this weekend with two new clubs - Boston Legacy and Denver Summit expanding the competition to 16 clubs. Arthur Blank's Atlanta franchise will join next season with an 18th team earmarked for the following year and Columbus believed to be in the driver's seat for that spot.

On this week's podcast, Pardeep Cattry of CBS Sports, joined us for a deep dive into the NWSL's plans.While Boston faces stadium infrastructure challenges, Denver has demonstrated strong market potential by selling 50,000 tickets for its season opener at Mile High. The league is also navigating financial competition with elite European clubs through the implementation of a new "high impact player rule," though the mechanism is currently stuck in arbitration with the players' association.

The NWSL is adopting a proactive World Cup strategy, intentionally scheduling games—including a high-profile "test case", The Challenge Cup, in Columbus—during the tournament to capture "summer tournament bump" interest. Success for the upcoming season will be primarily measured through TV viewership numbers, which are critical for upcoming media rights negotiations which are freed up from 2028.

For this year, NWSL games are spread out across a number of platforms. Victory+ become the fifth domestic broadcast partner, with around a quarter of the games on their streaming platform. ESPN will again broadcast select games including a number in their new 'Women's Sports Sundays' slot. Games will also be shown on CBS Sports Network, Amazon Prime Video and Scripps' ION channel. Any games not picked up by partners will be shown on NWSL+ for free. The NWSL has also struck a series of deals for international broadcasts. HERE.​

It will be interesting to see if the strategy of broadcasting via multiple platforms increases audience for NWSL or if it confuses their fans. The approach is in stark contrast to MLS's focused deal with Apple but could be ased by the fact that Victory+ is a free, ad-supported streaming service.

It was a great chat with Pardeep which will give those who don't follow NWSL super closely a quick catch-up session on where the league is at. There is a tendency to hype women's soccer's potential so it's good to deal with the facts and the detail and assess exactly where the league is in terms of its very real growth.

For me the big question is just how far NWSL owners want to go in terms of becoming the undisputed top women's league in the world. The WSL in England and the big clubs in UEFA's Women's Champions League are ambitious but with first-mover advantage, the NWSL has a real chance to do something that is impossible for MLS at this time - be the world's number one league, the destination league for the very best.

But does spending millions to recruit top international talent really move the needle for NWSL fans who may be attracted to the sport by other factors? Is it really worth it? That was one of the issues that I discussed with fellow podder Andre Da Costa on this week's show. (We also dived into the Messi equity story too)

Spotify Link to the pod below. While Apple Podcasts link is HERE​

Messi's True Miami Deal, Soc... Mar 13 · The Soccer Business Podc... 55:20   ​

And now for the news in brief....

USA WORLD CUP BASE CONFIRMED - It's now finally been confirmed that Mauricio Pocchettino's USMNT squad will train and practice in Irvine, California at the home of USL club Orange County SC.
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With two group stage games in Los Angeles at SoFi Stadium the location makes perfect sense and it will be a great boost for the club and the local soccer scene to have the national team's World Cup adventure based at their home. The national (and at times the global) media will descend on the 6,500 Championship Soccer Stadium for training sessions with the club receiving unprecedented exposure.

COWBOYS KICKER AUBREY INVESTS IN TOCA SOCIAL: Dallas Cowboys star placekicker Brandon Aubrey has made his first-ever corporate investment by backing TOCA Social, a 20,000-square-foot soccer-themed entertainment venue opening at Grandscape in The Colony. The facility, the first of its kind in the United States, combines interactive soccer games with dining and social elements, similar to the Topgolf model. Aubrey, a former professional soccer player, believes TOCA Social is perfectly positioned to capitalize on the "incredible tailwind" of the 2026 World Cup, during which Dallas will host a record nine matches.

ARCADIA MAPLELEAF SOCCER TAKES MAJORITY STAKE IN OTTAWA RAPID FC: Arcadia MapleLeaf Soccer, led by investment banker Nick Sakellariadis, has been announced as the new majority owner of the Northern Super League’s Ottawa Rapid FC. The investment group, which includes sports management veteran Micheal Savit and former principal at McKinsey & Company Ellen Shumway, aims to provide a long-term capital runway to enhance talent and the fan experience. Sakellariadis, who formerly owned the Dayton Dragons, intends to apply his "secret sauce" of strong community integration and fan experience to turn the club into a lasting institution as it enters its second season.

USL CBA NEGOTIATIONS STALL AMIDST PLAYER PROTESTS : The USL Championship’s opening weekend was marked by unified player demonstrations, with matches beginning with 60 seconds of still and silent protest from players immediately after kickoff to represent union solidarity. These protests occurred as Collective Bargaining Agreement (CBA) talks remain unresolved, with reporrtedly both sides recently dismissing a federal mediator from negotiations. Last month the USLPA voted overwhelmingly to authorize strike action. While some "meaningful concessions" have been made regarding base compensation—the league is currently offering $40,000 while the USLPA seeks $42,000—significant gaps remain on several structural issues.

CLEVELAND’S NEW MLSNP CLUB UNVEILS “FOREST CITY CLEVELAND” IDENTITY: Cleveland’s upcoming professional men's soccer club has officially revealed its identity as Forest City Cleveland, a brand shaped by input from over 3,000 Northeast Ohio participants. The club’s crest features the “Die Hard Tree,” a historic 350-year-old American sycamore representing the city’s resilience, and incorporates colors like “Forest City Green” and “Lake Erie Midnight”. Set to begin play in MLS NEXT Pro in 2027, the club is a key part of Cleveland Soccer Group's effort to build a unified soccer ecosystem in the region.

LAFC LEGEND CARLOS VELA JOINS CLUB OWNERSHIP GROUP: Club legend Carlos Vela has officially joined the ownership group of Los Angeles Football Club (LAFC), marking a new era in his historic relationship with the franchise. Vela, who was the first player in club history and remains its all-time leader in goals and assists, becomes the latest former player to transition into a leadership role within the organization. In addition to his new ownership responsibilities, Vela will continue to represent the club globally as its first Black & Gold Ambassador.

MLS AND MLSPA LAUNCH DIGITAL AUCTION PARTNERSHIP WITH MATCHWORNSHIRT: Major League Soccer and the MLS Players Association have entered into a multi-year agreement with MatchWornShirt (MWS) to provide fans with exclusive access to authenticated match-worn and signed jerseys. The collaboration, launching with the 2026 season, will initially feature an eight-club rollout before gradually expanding to include all 30 clubs. Every jersey sold will be equipped with Fabricks™ NFC technology to provide instant digital certification of origin and match use.

MLS NEXT APPOINTS SAVINO AND ROBLES TO NEW LEADERSHIP ROLES: Major League Soccer has established a new dual leadership structure for youth development program MLS NEXT, naming longtime executive Stephanie Savino as General Manager of Business and Commercial Operations and elevating former MLS Goalkeeper of the Year Luis Robles to General Manager, Sporting. Both leaders will report to Ali Curtis, the MLS NEXT Pro President and MLS Executive Vice President of Sporting Development. Savino, who brings nearly a decade of league experience will oversee the platform’s commercial growth, marketing, and strategic planning. Robles, who joined the organization as Technical Director in 2023, will now lead all technical aspects of the program, including competition standards, talent evaluation, and player development across the platform’s 318 participating clubs.

MARC LASRY’S AVENUE SPORTS FUND INVESTS IN NORTH CAROLINA COURAGE: Billionaire investor Marc Lasry has solidified his presence in women's sports through a $40 million minority investment in the NWSL's North Carolina Courage via his Avenue Sports Fund. The deal values the organization at $155 million, a significant jump from its $66 million valuation in 2022. Lasry, who recently closed his sports fund with over $1 billion in commitments, took a Limited Partner stake to comply with NWSL ownership regulations.

AMERICAN STORCH NAMED PREFERRED BIDDER FOR SHEFFIELD WEDNESDAY: A group led by American businessman David Storch has been named the preferred bidder for the crisis-hit Sheffield Wednesday, recently relegated from the Championship to League One in the EFL. The bid, valued at just under £20 million, was the highest of several offers but remains insufficient to clear all debts, meaning the club could yet face a 15-point deduction for the 2026-27 season. Storch, a former aviation executive, must now secure approval from the EFL and the new Independent Football Regulator while the club aims to stabilize its finances following a period of administration.