today 17:44
The Major League Soccer (MLS) could be the next sports league in the United States in allow a sovereign wealth fund to invest in your equipment.
Members of the league’s board will discuss the matter at a meeting next week in Washington, the MLS commissioner said Thursday. Don Garber, at the Allen & Co. Sun Valley conference. The commissioner said the board is following in the footsteps of other American sports leagues, such as hockey and basketball.
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“The NHL and NBA have considered having sovereign wealth funds and pension fundsGarber said in an interview with Bloomberg TV. “MLS is evaluating the same thing.”
The participation of sovereign wealth funds in sport
The sovereign wealth funds They have recently detected their investments in professional sports around the world. The Saudis, through Public Investment Fund (PIF) of the country, own LIV Golf and Newcastle United FC. The fund has also considered the possibility of buying another top-tier soccer club in Europe, Bloomberg reported on Thursday.
the crown prince Mohammed bin Salman it has made sport a key part of its strategy to diversify the economy, improve the kingdom’s image internationally and boost tourism growth. Saudi Arabia is considering a joint bid for the 2030 World Cup of FIFA, a tournament that was recently held in neighboring Qatar. It has also poured billions into expanding into everything from golf to Formula 1 to boxing.
The influx of capital from the Middle East is now pouring into American sports. The National Basketball Association recently decided on its first sovereign wealth fund investment. The Qatar Investment Authority has acquired a 5% stake in Monumental Sports & Entertainment, owner of the Washington Wizards, Mystics and Capitals. The deal valued MSE at US$4.05 billion, according to Sportico.
Agreement with Messi
Although MLS is now considering working with sovereign wealth funds as a partner, it has also run into them as a rival. This year, the American league attracted the world soccer superstar Lionel Messithat rejected FC Barcelona and the Saudi club Al-Hilal, financed by the PIF.
Al-Hilal offered the 36-year-old a contract that would have netted him US$400 million annually, according to press reports. Had they accepted, they would have joined other great football figures, such as Cristiano Ronaldo and Karim Benzemathat they won hundreds of millions of dollars playing in the club of the country.
“For him to say that Major League Soccer is his preferred league, not Saudi Arabia, not FC Barcelona, adds a level of excitement and credibility and enormous enthusiasm to our league,” Garber said of Messi.
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The Argentine soccer legend could earn up to $150 million in two and a half years, according to Sportico. Garber conceded that Messi’s deal includes a stake in the club and revenue-sharing agreements with Apple Inc. and Adidas AG.
Garber said MLS probably won’t sign another deal as big as the one that signed Messi, but is open to it if the right situation arises.
“The probability of ever having a situation with a player, where he has an opportunity to participate in capital, is probably something we will never do again,” Garber said. “There was only one David Beckham. There is only one Lionel Messi.”
