Sporting Kansas City Set to Sell Majority Stake for Record $700 Million in MLS History
Sporting Kansas City, owned by the Illig family since 2006, is set to sell a majority stake in the team to an existing limited partner for approximately $700 million. This deal marks the highest price for a majority stake in MLS history as the league gears up for its 31st season in February. Sporting KC was valued at $650 million last year, ranking 16th in the league with an estimated revenue of $75 million in 2024.
As part of the agreement, the Illigs will sell 71% of the team, reducing their stake to just under 10%. The buyer, whose identity remains undisclosed, will now own around 80% of Sporting KC. Despite the significant change in ownership percentages, the Illigs will maintain their roles as governor and alternate governor of the team, at least for the time being.
Sporting Kansas City confirmed that the shareholders in the team's parent company, OnGoal LLC, have remained the same since 2022. The club emphasized that there have been no changes in management or ownership participation levels in MLS governance or league activities. The Illig family will continue to lead the shareholder group, manage the club day-to-day, and represent Sporting Kansas City on the MLS board of governors.
MLS has seen a steady increase in valuations over the years, with an average of $690 million in 2025, up 19% from 2023. Last year, three clubs surpassed the $1 billion mark, with LAFC leading the ranking at $1.25 billion. The league declined to comment on the recent ownership changes at Sporting KC.
In conclusion, the sale of a majority stake in Sporting Kansas City to an existing limited partner for $700 million marks a significant milestone in MLS history. The Illig family's decision to reduce their ownership stake while retaining key roles within the club reflects the evolving landscape of professional soccer in the United States.