The New Era of Soccer Governance
Wall Street’s footprint in American soccer deepened this week as U.S. Soccer confirmed that Mauricio Pochettino will remain head coach of the U.S. Men’s National Team through 2030, a contract extension made possible by a philanthropic gift from billionaire hedge‑fund manager Ken Griffin.
The agreement, first struck in 2024 ahead of the 2026 World Cup, was reinforced by Griffin alongside Scott Goodwin and Adam Freede, illustrating how private‑equity capital is now woven into the sport’s governance structure.
Major League Soccer also named Larry Berg its third commissioner, elevating a private‑equity veteran with three decades of experience and a stake in Los Angeles FC. Berg succeeds longtime commissioner Don Garber and has pledged to prioritize governance and ownership alignment as the league navigates an increasingly capital‑driven landscape.
Berg’s appointment coincides with the creation of Hometown Soccer Holdings, a 50‑50 joint venture between MLS and KKR that will centralize commercial rights for MLS NEXT Pro clubs. Industry analysts estimate the venture’s valuation at $150 million to $200 million, underscoring the growing appetite for institutional control over soccer’s revenue streams.
The trend extends beyond MLS. Since 2019, private‑equity firms have been courting U.S. sports leagues, following Major League Baseball’s precedent of permitting institutional minority ownership. Executives such as Bennett Rosenthal, co‑owner of LAFC and co‑founder of Ares Capital Management, argue that private‑equity’s operational rigor can be transplanted into sports, where firms may hold up to 30 percent of a club without seeking governance rights.
Jimmy Haslam, owner of the Columbus Crew, praised Berg’s background and the inclusive selection process that involved all 30 MLS owners, crediting Garber’s recruitment efforts for the seamless transition. Garber, in his farewell reflections, noted that the league no longer relies on traditional leverage tactics, thanks to a stakeholder base that now shares a common vision for long‑term growth.
The broader narrative frames private‑equity’s push into soccer as a strategic reclassification of franchises as top‑tier assets, blending commercial ambition with a forward‑looking vision for the sport in the United States.