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April 30, 2006
Business Week: A Breakout Year for Soccer
As we wrote here last November, we think MLS is on the verge of turning the corner on profitability. With the World Cup less than six weeks away, Business Week has weighed in on the issue and guess what? They agree.
We think this bit from their article is particularly important:
Over $1 billion has flowed into MLS in less than two years as investors sense that the league may be at a tipping point. Red Bull, the sassy Austrian energy-drink company, recently plunked down $100 million to buy the New York franchise. The owners of the Toronto Maple Leafs hockey team announced they would buy an MLS franchise next season. Dave Checketts, former general manager of the NBA's New York Knicks and Utah Jazz, bought Real Salt Lake last year. Jorge Vergara, CEO of Grupo Omnilife and owner of Mexico's famed Chivas of Guadalajara soccer club, bought Chivas USA in Los Angeles... More important, Adidas-Salomon last year said it would invest $150 million in the league over the next 10 years.
Posted by Jay at April 30, 2006 10:26 PM