A tumultuous off-season for the Vancouver Whitecaps hit another level on Friday morning, as the ownership consortium of Greg Kerfoot, Steve Luczo, Jeff Mallett, and Steve Nash announced the initiation of their process to sell the club.
In reality, as we heard later on in the day from CEO and sporting director Axel Schuster, this is a process that is months, if not years in the making, with an aging ownership group that is starting to consider estate planning and the divestment of assets.
This ownership group has gained a reputation over the years for their lack of involvement, and equally, they have been accused of resting on the club’s inflated valuation as the league expands, rather than doing what is necessary to grow the club within the Vancouver market. All of this, to some extent, I think is true.
Yet, rather curiously, I don’t think this sale is just about money for this ownership group. If that were true, the Whitecaps either would have been sold years ago, or this consortium would be looking to ride out the World Cup hype-train and cash in later in the 2020s.
For all that this group has failed to do for the Whitecaps, it’s clear that there is still a level of care and stewardship that the owners, and Kerfoot in particular, take seriously. Otherwise, there is no reason that Kerfoot would have been invested in the club, as well as other soccer ventures in BC, all the way back to 2002.
I think then, the reason for the sale is two-fold. It makes sense for the owner’s personal situations, but it also makes sense for the club itself.
Major League Soccer has expanded to a point where this current ownership group clearly cannot provide the level of investment that is necessary for the club to continue progressing.
That’s not really a knock on the current owners, that’s just a sign of the times. In a world of large-scale sports consortiums, an ownership group that hasn’t changed much since 2008 is always going to have a hard time keeping up. It looks like the current owners know this, and it also happens to be a good time for them to move on.
So, at least for the moment, I am going to take this ownership group at their word that they are invested in keeping the club in Vancouver, at least to the extent they can exercise that power in selecting a new group. Equally, with the 2026 World Cup on the horizon, I think it would be a tough sell for MLS to rip the club from this city.
Beyond that, I think that Don Garber and the MLS powers that be would far prefer to collect expansion fees for destinations such as Vegas and Indianapolis, rather than allow for a prospective buyer to swoop in and buy the Whitecaps for a bargain price. We’ve already seen this in San Jose, where the league has gone to significant lengths to protect that franchise from relocation.
These are obviously not guarantees, but I do think some of the panic I have seen in Vancouver over the last 24 hours is more irrational fear-mongering than genuine analysis.
As long as I have been covering this team, there have been people telling me that until the Whitecaps find new owners, they will never be a successful franchise. Yet, now that the club is for sale, I have heard little about the opportunity for this club to come out the other side of this transition in a much better place.
There is, evidently, still a possibility that the Whitecaps could be relocated, which is daunting. That said, I don’t think a world where this current ownership group rides things out until their late eighties, or death, makes much sense either.
Sooner or later, change was on the horizon for this franchise; it’s simply a matter of finding out what that change will to look like.
next season
Major League Soccer will kick off its 2025 regular season Feb. 22 with all three Canadian teams opening on the road.
Inter Miami hosts New York City FC in the first of 13 games opening day. Montreal visits Atlanta while Toronto plays at D.C. United.
The league grows to 30 teams in its 30th season with the addition of expansion San Diego FC, which opens play Feb. 23 at the champion Los Angeles Galaxy. Vancouver visits Portland in the other Feb. 23 game.
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The Whitecaps’ home opener is March 2 against the high-flying Galaxy. Toronto’s home opener is March 15 against Chicago.
Carlo Ancelotti and a group of friends could buy the club? coach himself for two years and straighten out the mess? {wife might not be happy?}
The Whitecaps are as good as gone. I’m trying to remain positive, but hard to see local buyer coming forward, and if an outside buyer comes in….imagine having to deal with local government in Vancouver to try and get a new stadium on the waterfront built….almost beyond belief. As far as this city is concerned, a low rise, common looking waterfront is what is better suited to the crab park area. Unbelievable.
Sim could fund it with bitcoin.
Serious investors want a stadium included to maximize income….Greg Kerfoot has a great location now being considered as “a new convention centre”..THINK MIDDLE EAST MONEY WOULD BE NEDED
well, to some extent i agree with the writer– this is a great market with a solid fan base in the +22 000 average, akin to LAFC- and with the WC coming in 2026, the Club must stay due to optics that the World would notice; and i do think a sale will be to a group of investors; and probably, MLS does love the market, except its in Canada, not the USA where 27/30 Clubs exist
BUT, i disagree that the ownership hasnt been in the MLS due to financial rewards- its been their #1 goal- MAKE MONEY- their lack of any serious interest, ambition and involvement in the soccer community and the Whitecaps has been apparent from 2011 onward- i have never seen such a disengaged ownership in any other professional sport- as a group, when they sell, they will have netted in excess of $250 mill as MLS owns 50% of the franchise – 7-8x their investment of $35 mill – thats a good return of 700-800 % in 13 years
the writer goes with the noble aspect from the Owners- I DONT – they have chosen this moment to sell because its PRIME TIME to do so- basketball fans heard these stories with the NBA Grizzlies who- although a disaster of a Club- still averaged almost 16 000/game… and we all know what happened after 2 years of a new owner
it would take investors with a HUGE passion for the Game, the City and the Whitecaps name/history- its hard to see that happening for $500 mill
i wait to be surprised
i have been at mid week matches ….
maximum 12,000
It is clear that they don’t have the money to compete and they care so they want someone else to invest. The BC Place deal is crucial now, what do they think? What are the plans for the renovation (maybe just maybe) the world cup will make it a suitable place for the near future and saves the stadium thing. Axel said the deal was outdated, with money upfront they can updated at their will.
And what are the real options you guys think might take over from a local perspective? The Ryan Reynolds group is even a real option? Is there anyone that have expressed interest before?
Let’s just hope they stay.
about 8-10 years ago, the Canuck Owner, Francesco Aquilini- kicked the tires on a 3 pak purchase- BC Place Stadium, the Lions and the Whitecaps- never happened as the BC Government wasnt interested as it was a public asset from the 2010 Winter Olympics investment
Should they be taken from us, it would be yet another massive blow to the the soul of this city, which is hanging by a thread in the face of a profit-driven, investor-friendly homogenous development and the clear-cutting of local business in favor of the highest corporate or foreign bidder. It’s cliche – and borrowed from our frenemies in Portland, who borrowed it from Austin TX, but please… let’s keep Vancouver weird.
We have lost NBA, TripleA Baseball, the Molson Indy, the Air Canada Golf Championship, and now it is inevitable -The Whitecaps….what a disgustingly inept Sports City
did you read the article or
Clearly he didn’t. Nor did he read anything else.