A consortium led by US investor Grant Gustavson has tabled a bid to acquire the Vancouver Whitecaps Major League Soccer (MLS) franchise, in an effort to move the team to Las Vegas, Nevada, US.
The team would play at a temporary venue in Las Vegas until a permanent stadium is construction, provisions for which Gustavson has included in the bid.
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Gustavson’s mother, Tamara Gustavson, is the single largest shareholder (11%) in Public Storage, the US storage facility chain, and boasts a net worth of around $8.6 billion.
A spokesperson for the group commented: "The investment group will privately finance this endeavor and is not connected to any of the recently announced arena ideas in Las Vegas.
"In the coming weeks and months, we look forward to the opportunity to share more, however, out of respect for the league's deliberations and community stakeholders, we are refraining from sharing details of our proposal.”
In 2025, the Whitecaps ranked in the upper half of MLS for average attendance (24,000 per game) at its 54,500-capacity BC Place home.
The Whitecaps, MLS Cup champions in 2025, are one of three Canadian teams in the competition, and while MLS would no doubt like to maintain the franchise’s position in Vancouver (which will host FIFA World Cup games) with the strong support it has engendered in the area, the allure of the Las Vegas market may prove too great to ignore.
In 2025, Forbes valued the Whitecaps at $440 million, the third lowest in MLS, likely owing to Vancouver’s position outside the US, and the fact that it does not own BC Place, meaning owners cannot retain commercial revenue from concessions and events.
Greg Kerfoot, Steve Luczo, Jeff Mallett and Steve Nash, the owners of the Whitecaps, put the franchise up for sale back in 2024, stating at the time that it was 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.”
Since then, the group claims it has spoken to over 100 potential investors, none of whom they said had the financial muscle to keep the team in Vancouver.
This news comes as private equity fund KKR announced an investment into MLS’ Next Pro youth development category.
The pair have established Hometown Soccer Holdings (HSH), a new commercial vehicle for MLSS Next Pro through which it says it will support supporting stadium development, club branding efforts, and fan engagement.
MLS commissioner Don Garber said: “Having KKR as a strategic partner is a significant step forward for MLS NEXT Pro and will strengthen player development across the U.S. and Canada.
“This investment will help build and grow MLS NEXT Pro and reflects our ambition to expand into new markets, develop soccer-specific infrastructure, elevate the matchday experience, and deepen connections between our clubs and their communities.”
Tom Glick, the former president of multi-sport ownership Group Tepper Sports and Entertainment (which owns MLS side Charlotte FC) and English giants Chelsea FC, will head up HSH as its chief executive, with former LA Galaxy president Chris Klein serving as president of the business arm.
KKR partner Ted Oberwager, added: “We believe that combining centralized technology infrastructure, strong local execution, and disciplined investment can help clubs strengthen fan connections, build long-term value, and create future-forward sports and entertainment experiences.”
In March, MLS announced a number of executive changes surrounding its commercial business, including the appointment of Stephanie Savino to the role of general manager for business and commercial operations.
