The owners of the Vancouver Whitecaps are looking to offload the club, announcing on Friday that it has initiated a sales process.
“This decision comes after careful consideration of the club’s journey and reflection on what is required to ensure its continued growth and success,” a release from owners Greg Kerfoot, Steve Luczo, Jeff Mallett, and Steve Nash shared.
Kerfoot bought the team in 2002, eventually bringing it into the Major League Soccer (MLS) in 2008. The ownership group formed that same year, and since then, the MLS and soccer across the world has “evolved considerably,” the team says.
“The club has grown to become a staple of MLS, reaching seventh in league attendance, doubling season ticket memberships over the past two years, and qualifying for the MLS Cup Playoffs in three of the past four seasons. The current ownership has built a solid foundation for Whitecaps FC – it is the right time for an owner with the platform, resources and ambition to enhance the club’s ability to compete at the highest levels of MLS and steward the club in realizing its significant potential,” the statement read.
Forbes estimates the club is worth around $410 million. Ownership has retained Goldman Sachs to help with the transition.
More to come.
You can watch CityNews 24/7 live or listen live to 1130 NewsRadio Vancouver to keep up to date with this story. You can also subscribe to breaking news alerts sent directly to your inbox.