Good Friday morning, Caps fans. I hope your week is coming along well and that you are in store for a rest this weekend.
The 2026 season is (sort of) underway with the start of the CONCACAF Champions Cup, even if only one MLS team took part in the first batch of matchups. Shout-out to Forge for grinding out a 0-0 draw with Tigres. Things went less well for Vancouver FC, but they deserve a nod as well simply for qualifying.
It’s been a roller coaster once again in Caps world. We got news this week that seemed heartening: PavCo came back with a better lease offer, one that would basically see the province hand over any profit they would have made to the club. This seemed to be the deal the Caps were waiting on. While the number we’re talking about here is relatively small for a major sports team (1.5 million CAD or so), it seemed to be the good-faith offering the club needed to proceed.
Well, after what was initially a muddled response from the Caps hierarchy, it now seems like those terms will be acceptable for 2026. What comes after that, however, remains as unclear as ever.
Axel Schuster spoke to the media on Thursday from Spain, and the takeaways were, well, still not good. The club professes to need more than what PavCo is conceding here, to the tune of 40 million CAD a year to bring them from the bottom of the league in revenue to the middle of the pack.
It is unclear what the status of the Hastings Park development is, nor what levers the Caps are looking to pull to bring in that sort of revenue, though things like naming rights for BC Place and greater deals on concessions and other matchday revenue have been mentioned repeatedly.
There are a lot of frustrating parts to this, and more and more of my ire is being directed towards ownership, who conveniently keeps sending Schuster out to answer these sorts of questions (though Axel deserves credit for trying to be transparent).
I don’t know whether this ends with the Caps relocating. But I just find it rich that the team is only now starting to explore ways of making the team more profitable. Sure, the exchange rate is a killer. But this ownership group has not exactly been a leader in MLS in either investing in success on the pitch or identifying novel revenue streams off of it, at least not until the last couple of seasons. I don’t think they bear all of the blame for past stadium failures, but they weren’t exactly pushing the envelope to get a deal done. Heck, owners in New England and New York have been more aggressive in getting a stadium built. To turn around and complain of poverty merely because MLS seemingly started cracking the whip (and because there is an opportunity to do so now that the team is successful) is frustrating.
I’m not really interested in playing a blame game in all of this, but it feels like other stakeholders (i.e. PavCo) are interested in finding some sort of real solution here. I am choosing to be hopeful that ownership is as well and MLS needs to give them the time and space to work something out. I refuse to believe that this club can’t be more profitable — it just might take time and patience to get there. Moving the club might mean a short-term injection of cash, but, as I said on Monday, it would also have huge consequences for soccer in Canada, and that could be financially disastrous for MLS as well. Oh, and there’s the simple matter of this ownership group and league letting down a fanbase, a city, and one of the most storied soccer brands in North America. You can’t put a price tag on that.
Shameless Self Promotion
In on-pitch news, we did get a signing this week, as the Caps finalised a deal to sign winger/striker Cheikh Sabaly from Metz in France. Caleb dives into why this is a shrewd bit of business from Schuster and Co.
Best of the Rest
A fuller look at the state of the BC Place lease for 2026.
Vancouver Rise will start year two of the NSL by running back last year’s title game and hosting Toronto.
James Rodriguez is set to sign for Minnesota United in one of the weirder signings in recent memory.
Salty is smoking a sharing of ideas, insights and possibilities- i was talking 2 weeks about things are being worked out, while others- like you- were panicking that it was all doom and gloom
sometime this year, there will be an agreement on BC Place Stadium naming rights and how the Caps will share in that- other ventures might also come to increase their bottom line
by the end of 2026, we will begin to see: possiblity of a long-term rental at BC Place; either a direction to Hastings Park North or a purchasing of BC Place by a consortium of Whitecap investors if the BC Government agrees, of course– i think the former option will have the most potential for a long-time return and believe this will be the direction the Club will be going- but i wont complain if the Club stays at BC Place long-term as THE OWNER or ?? – why spend $500 mill on building a new 30 000 stadium when there is a stadium of 54 000 available if the government is willing to sell it under certain requirements- maybe even a lease
this Whitecap investor consortium might want even more- just my gut-feeling
pay attention panickers- owner, Greg Kerfoot, isnt staying involved UNLESS there is potential for more than what the Club presently has- and that was the #1 sign that the potential for something(s) bigger is (are) in-play
put that in your pipe and smoke it – then fire back with YOUR ideas, insights and opinions
Salty
agree with you a 100%!………well said
i see the present lease agreement for 2026 as a very positive development in the steps that will take the Caps to a final resolve in the stadium- some $$$$ will be coming the Caps way (drink and food revenue) and more might in the future with naming rights for the Stadium adding to their pot – these could work up to an additional award of $4-5 mill/year for the Caps- this would be enough IMO to sustain the Caps as the stadium issue is worked out – perhaps other ideas for maximizing the Club’s involvement in the running of the Stadium could even add to their bottom line
as i stated several weeks ago, the sky isnt falling upon the franchise in Vancouver- there are sunny skies coming- this 10.5 months of 2026 remaining means that there will be lots of discussions between the Whitecaps (Axel and majority local owner/billionaire, Greg Kerfoot, who has announced that he will stay as an investor (which tells me there are other new investors known to him that will place some significant loot into the franchise when more is known about the stadium situation), PAVCO (the over-seers of BC Place) and the BC Government (owners of BC Place); in the near vicinity of involvement is Vancouver City to see what will transpire at Hastings Park North (an exciting vision)
what will be majorally determined this year is if BC Place Stadium will up for new administration (the Whitecaps) that can make the Stadium more than what it is right now… or even….
Gulp- buying BC Place Stadium– this is out on the far edges- and if not this, then Hastings Park North will be on the Club’s plate — which one would you choose?
Exciting times for a Club whose fortunes have wonderfully changed because of 2025 that has brought the Club into the view and discussion of the greater population of the Lower Mainland and even BC — and thanks to Axel Schuster and Greg Kerfoot for directing this- this all needed to happen
Salty
Dont you know what salty is smoking but please share!
with Whitecaps business plan ….they require minimum of 30,000 season tickets sold……think they could look for an investor to buy both the Whitecaps and BC P Place.?… .many arenas world wide… have this set up. ……………INSTALLATION OF GRASS IS POSSIBLE!!
Allegiant Stadium in Las Vegas, Nevada, showcases a traditional Bermuda grass playing field, which is rolled out of the stadium for game days. The field is supported by a 4-feet-deep, 9,500-ton tray that houses the grass field, along with irrigation and drainage systems.
uni-engineer.com
The process of maintaining lush, healthy grass indoors for professional sports events involves advanced lighting systems, environmental controls, and soil management. These systems work together to create an ideal playing surface, ensuring top-quality surfaces regardless of outdoor conditions
My choice?……New investor required buy both Caps and BC Place!
Gulp- buying BC Place Stadium– this is out on the far edges- and if not this, then Hastings Park North will be on the Club’s plate — which one would you choose?