Sporting Kansas City (KC), of North America's top-tier Major League Soccer (MLS), has a new majority owner, with Peter Mallouk, chief executive of wealth advisory firm Creative Planning, acquiring an increased share from the Illig family.
Mallouk confirmed the deal to local television station KSHB 41 over the weekend, adding that the agreement to purchase a majority share in the club was finalized in December after a year of talks.
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The Kansas City native, who also holds a minority stake in baseball’s Kansas City Royals, has held a minority share in the club since 2022.
In a statement, Sports KC also confirmed Mallouk as the majority owner of the club, adding: “We can confirm that there have been no changes in the management of the club, and no changes in the club’s ownership participation in MLS governance or league activities.
“The Illig family continues to lead the club’s shareholder group, manage the club day to day, and represent Sporting Kansas City on the MLS board of governors.”
The Illig family has owned the club since 2006, when the OnGoal consortium, led by Cliff Illig, bought the then-Wizards from Lamar Hunt. The group then rebranded the club to Sporting KC ahead of the 2011 season when it opened its stadium, Sporting Park.
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By GlobalDataThe deal, according to Forbes, is worth approximately $700 million, with the Illig family selling 71% of their stake to Mallouk, with their stake reduced to under 10%. Mallouk’s share now stands at around 80%.
If accurate, the figure is the highest majority stake purchase in MLS history, beating Forbes’ $650 million valuation of the club last year, which ranked 16th among the league’s 30 teams.
Speaking to KSHB 41, Mallouk said: “I feel like our family will have an opportunity to make a real big impact on the Kansas City sports scene here going forward.
“[The Illig family] made 100% of the decisions around this season, and I think the difference you’re going to see … [is] commitment to do whatever it takes to win. I know that they are doing that, but you’re going to see a financial commitment to that too.”
Sporting KC finished last in the Western Conference in 2025. The team is currently in Florida for pre-season training as the club prepares for its MLS season opener on February 21 at San Jose.
The deal comes as MLS clubs enjoy skyrocketing valuations, with Forbes’ recent estimate of MLS clubs placing three clubs at over $1 billion, including LAFC ($1.25 billion), Inter Miami ($1.2 billion), and LA Galaxy ($1 billion).
The change in ownership also comes as the MLS prepares to overhaul its schedule by moving to align with top European leagues by playing from July through May, with a proposal to stage a transition season from February to May 2027 that only features a 14-game regular season, playoffs, and the MLS Cup.
