The average MLS team is worth $678 million, according to data compiled by Sportico. Los Angeles FC ranks first at $1.15 billion, while CF Montréal ranks last at $440 million. Below are the values of the league’s 29 franchises, which are collectively worth $19.7 billion. The league will expand to 30 teams next season when San Diego FC starts play.

To derive the market value of the 29 current MLS franchises, Sportico calculated each team’s revenue, relying on publicly available information and financial records—and interviews with those knowledgeable of team finances, including eight sports bankers and attorneys who actively work on MLS transactions. Below are definitions of some major metrics.

2024 Valuation: The sum of the current market value of an MLS franchise combined with the value of team-related businesses and real estate holdings.

Team Value: MLS franchise valuation, derived from metrics by which soccer team transactions typically occur, including aggregating local and national revenues and factoring in a team-specific multiplier. It includes the value of each franchise’s 3.4% interest in Soccer United Marketing—which is acquired/dispossessed in tandem with the sale of a team.

Team-Related Businesses and Real Estate Holdings: The value of a franchise or franchise owner’s equity in team-related businesses—that is, both those on the team’s balance sheet and held in distinct corporate entities—as well as government-assessed real estate related to venue, practice facilities and adjacent developments. These assets represent a small percentage of MLS total values at this stage; the predominant value in most cases involves training complexes and new stadiums owned by teams, although a government organization often owns the land underneath the home venues.

We do include other assets in the total value, such as the 100-plus acres of land, owned and operated by the Philadelphia Union, along the waterfront in Chester, Pa., where the club plays. We also factor in club ownership stakes of MLS Next Pro teams, which launched in 2022, and National Women’s Soccer League teams in Houston, Orlando and Utah.