Vancouver Whitecaps FC For Sale
byThe 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.
Vancouver Whitecaps FC For Sale
This decision comes after careful consideration of the club’s journey and reflection on what is required to ensure its continued growth and success.
“Our group have been committed to transforming our local soccer club into a significant contributor to our community,” says Greg Kerfoot on behalf of ownership. “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.”
Major League Soccer as well as the North American and global soccer markets have evolved considerably since the ownership group came together in 2008. The club has grown to become a staple of MLS, doubling season ticket memberships over the past two years, and qualifying for the MLS Cup Playoffs in three of the past four seasons.
Sportico valued the club at $470 million back in January, which ranked 27th among the league’s 29 franchises. Revenue in 2023 was about $45 million, according to Sportico‘s numbers, the second lowest total in MLS. The team averaged about 26,700 fans per game in the 54,000-seat BC Place, the seventh-highest attendance total in the league.
There have been no discussions regarding moving the team, according to sources briefed on the sale talks. The ownership group has retained Goldman Sachs to advise on sale and transition options.
History of the Ownership
Kerfoot acquired the Whitecaps in 2002. At that time the club was deeply in debt and had no clear future. With three employees working out of Greg’s home, and a core belief in the Vancouver soccer community, foundations were laid for a new and thriving Whitecaps club from the grassroots to the first team. Early milestones included the reinvigoration of the Whitecaps FC women’s and youth programs, followed by multiple championships for both the men’s and women’s teams.
The current ownership formed in 2008 with goal of securing entry into MLS, which at that point had only 14 competing teams. An intertwined goal was the construction of a purpose-built stadium for the club in downtown Vancouver. Vancouver Whitecaps FC played their first MLS game in March 2011, ushering in the current era. Another major step forward was in 2012 when the club invested $15 million to establish the Whitecaps FC National Soccer Development Centre at UBC, an anchor endowment for local, provincial and national soccer programming.
Since 2008, the ownership group has made significant annual investments to build out a full MLS Academy program including MLS NEXT and MLS NEXT Pro, an internationally acclaimed Girls Elite Academy, expand the regional academy centres across Canada, and become a founding member of League1 BC with both a men’s and women’s team. Whitecaps FC has achieved incredible success across all age groups, and the ownership group has continued to invest in the MLS roster, leading the club to rise into the top half of the league, including a promising playoff run this past season. In 2024, the club celebrated the 50th anniversary of the founding of the Whitecaps.
“The Vancouver Whitecaps would not be where they are today without the vision and commitment of this exceptional ownership group,” says Don Garber, Commissioner of MLS. “The Whitecaps are a terrific club in a world-class city. 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.”
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