LAFC may only be entering their third season in Major League Soccer, but the defending Supporters’ Shield champions are set to own the league's highest club valuation, according to a report from Eben Novy-Williams of Bloomberg.
Novy-Williams outlines that several LAFC owners have bought out half of Malaysian businessman Vincent Tan’s stake, which is currently 20 percent, and they are also looking to acquire the other half. The move would value the team at more than $700 million.
Tan is involved with ownership at several other soccer clubs, including Welsh side Cardiff City and Bosnian club FK Sarajevo.
LAFC have over 30 owners with a background and expertise in various areas of business and sport, and their investment in the club led to one of the most successful club launches in history in 2018. The ownership group includes, among others, lead managing owner Larry Berg, president/owner Tom Penn, actor Will Ferrell, soccer legend Mia Hamm and retired all-time NBA great Magic Johnson.
When Forbes released its latest list of Most Valuable MLS teams, LAFC clocked in at No. 3, trailing only Atlanta United and LA Galaxy. In the latest edition of the Soccerex Football Finance 100, LAFC placed highest of all MLS clubs globally at No. 18 overall.
LAFC open their 2020 season on Sunday night (5:30 pm ET | ESPN, TSN5, MLS LIVE on DAZN in Canada) against Inter Miami CF. The club has already advanced to the Concacaf Champions League quarterfinals with an epic comeback against Liga MX side Club Leon in the second leg of their Round of 16 series.