New York City FC are valued at $840 million, According to the sports business publication Sportico. That NYCFC valuation places the club at #5 in MLS, trailing only LAFC, Atlanta United, Inter Miami, and LA Galaxy.
The league-wide average valuation for a club is now $678 million, which translates into a 16% increase since Sportico last ran a report on MLS in September 2022. That jump is due in no small part to the economic impact of Lionel Messi signing for Inter Miami: According to Sportico, the value of that club leaped 74%, from $595 million to $1.04 billion.
Miami’s ascension to the elite of MLS valuation means that the league now has four billion-dollar clubs: LAFC ($1.15 billion), Atlanta ($1.05 billion), Inter Miami ($1.02 billion), and LA Galaxy ($1 billion). Last year, LAFC were the first billion-dollar club in MLS according to Forbes. (The numbers in the two publications differ slightly, but they generally align.)
NYCFC’s valuation of $840 million put them at the top of the next tier of MLS clubs. (Last year, the club were valued at $690 million by Sportico and $800 million by Forbes.)
Here are five takeaways about this increasingly lucrative league.
Sportico | 2024 MLS Club Valuations
| Club | Valuation | $ Change | % Change | Place Change | |
|---|---|---|---|---|---|
| 1 | LAFC | $1.15 billion | $250 million | 27.7% | — |
| 2 | Atlanta United | $1.05 billion | $195 million | 22.8% | + 1 |
| 3 | Inter Miami | $1.02 billion | $435 million | 74.4% | + 6 |
| 4 | LA Galaxy | $1 billion | $135 million | 15.6% | - 2 |
| 5 | New York City FC | $840 million | $150 million | 21.7% | + 2 |
| 6 | Austin FC | $800 million | $170 million | 27.0% | + 3 |
| 7 | Seattle Sounders | $795 million | $70 million | 9.7% | - 3 |
| 8 | Toronto FC | $725 million | $20 million | 2.8% | - 3 |
| 9 | DC United | $720 million | $20 million | 2.9% | - 3 |
| 10 | Portland Timbers | $715 million | $30 million | 4.4% | - 2 |
| 11 | Philadelphia Union | $685 million | $130 million | 23.4% | + 4 |
| 12 | Charlotte FC | $655 million | $85 million | 15.0% | — |
| 13 | Columbus Crew | $650 million | $90 million | 16.1% | + 1 |
| 14 | FC Cincinnati | $645 million | $95 million | 17.3% | + 2 |
| 15 | Minnesota United | $640 million | $75 million | 13.3% | - 2 |
| 16 | Nashville SC | $635 million | $115 million | 22.1% | + 3 |
| 17 | Sporting Kansas City | $630 million | $55 million | 9.6% | - 6 |
| 18 | St. Louis City | $625 million | — | — | — |
| 19 | New York Red Bulls | $615 million | $90 milion | 17.1% | - 1 |
| 20 | San Jose Earthquakes | $560 million | $45 million | 8.7% | — |
| 21 | Houston Dynamo | $550 million | $75 million | 15.8% | + 1 |
| 22 | Chicago Fire | $540 million | $5 million | 0.9% | - 5 |
| 23 | FC Dallas | $520 million | $50 million | 10.6% | — |
| 24 | Real Salt Lake | $510 million | $70 million | 16.3% | — |
| 25 | Orlando City | $505 million | $95 million | 22.6% | — |
| 26 | New England Revolution | $500 million | $5 million | 0.1% | - 5 |
| 27 | Vancouver Whitecaps | $470 million | $55 million | 13.3% | - 1 |
| 28 | Colorado Rapids | $460 million | $60 million | 15.0% | - 1 |
| 29 | CF Montréal | $440 million | $50 million | 12.8% | — |
1. The numbers are make-believe
Both Sporitco and Forbes claim that they survey MLS executives and gain insider information based on granting anonymity. But neither publication publishes the raw numbers, and we have to question if they can state with any certainty that $5 million separates clubs such as Toronto FC and DC United, or Columbus Crew and FC Cincinnati.
Are Austin FC really worth $800 million, which is $5 million more than the ever-popular Seattle Sounders? Sure! Could both be worth about the same as Newcastle United in the Premier League? We don’t see why not, especially if these nice, easy numbers aren’t supported by any data.
2. Every MLS club should be worth at least $500 million
When expansion side San Diego FC takes the field in 2025, they will be the 30th club to join MLS. The ownership group reportedly paid $500 millionfor the right to be a part of one of the two best leagues in North America. (Charlotte FC reportedly paid $325 million back in 2022.)
That puts the base price of every MLS club at $500 million. If real estate is about location, location, location, then that’s what every MLS club are worth simply for being in the school district.
And that makes the valuations of the Vancouver Whitecaps ($470 million), Colorado Rapids ($460 million), and CF Montréal ($440 million) a little concerning. Can a soccer organization be a tear-down?
3. NYCFC’s return outperforms the S&P 500
Back in 2016, Forbes valued NYCFC at $225 million. If His Highness Sheikh Mansour bin Zayed Al Nahyan, who controls City Football Group, the parent company of NYCFC, had invested that sum in an S&P 500 index fund, he would now be sitting on $549 million, which is a gain of $324 million. That works out to a return of 114%.
Instead, the 2024 NYCFC valuation of $840 million represents a gain of $615 million. That means MLS have given CFG a return of 273%.
To put it another way, NYCFC have outperformed the S&P 500 by 53%.
NYCFC Valuation by Year
Year | Valuation | % Change | Rank | Source |
2024 | $840 million | 5% | #5 | Sportico |
2023 | $800 million | 18% | #4 | Forbes |
2022 | $680 million | 4% | #4 | Sportico |
2021 | $655 million | 70% | #5 | Sportico |
2020 | — | — | — | — |
2019 | $385 million | 39% | #7 | Forbes |
2018 | $278 million | .01% | #7 | Forbes |
2017 | $275 million | 22% | #4 | Forbes |
2016 | $225 million | – | #3 | Forbes |
4. Messinomics is fuego, and uneven
The finances of the league in 2023 started strong on the heels of the news that Apple TV and MLS signed a 10-year, $2.5 billion broadcast agreement. But it was Messi’s decision to join Inter Miami over the summer that ignited this league-wide growth: The valuations of MLS clubs gained 16% on average.
However, the distribution among clubs is uneven. The valuation of former glam team Toronto FC grew just 3%, perhaps a reflection of front-office dysfunction — and a number of high-paid players on generous contracts who underperformed dramatically last year.
• NYCFC Transfer Tracker: All offseason news and rumors
5. Legacy clubs are underperforming
Chicago and New England grew by just 1%, a dismal showing by two of the league’s oldest clubs. They’re being eclipsed by newer organizations with dedicated fan bases and strong identities, such as Austin FC (27% gain) and Nashville SC (22% gain).
Three of the bottom clubs are among the league’s founders. New England ($500 million, 1% gain), FC Dallas ($520 million, 11% gain), and the San Jose Earthquakes ($540 million, 9% gain) are all underperforming. The New York Red Bulls ($615 million, 17% gain) are keeping pace with the league average, but they still lag far behind newer clubs in much smaller markets – and that have yet to lift silverware – such as Minnesota United ($640 million, 13% gain) and Charlotte FC ($655 million, 15% gain).
The Red Bulls might be three-time winners of the Supporters Shield, and play in one of the nicest stadiums in the league, but they trail the league average valuation of $685 million by a cool $70 million.
Not only that, they trail the year-old St Louis City, which are valued at $625 million, a cool $10 million more than the Red Bulls.
