Sporting Kansas City Sells Majority Stake for MLS Record Fee—Report

The Illig family are set to sell their majority stake in Sporting Kansas City.

Sporting Kansas City will have a new majority owner. | Winslow Townson-Imagn Images

Sporting Kansas City, one of the most historic clubs in MLS, is set to undergo an ownership change, with the Illig family selling their majority stake in the club to Peter Mallouk at a record enterprise value of roughly $700 million, according to Forbes and the Kansas City Star. 

Mallouk, who is one of the current minority owners, also owns a portion of Major League Baseball’s Kansas City Royals. As the president and CEO of wealth advisory firm Creative Planning, the 56-year-old would expand his sporting portfolio, taking over around 80% of the club from the Illig family’s 71% majority stake in the team. 

That price, which will see the Illig family surrender their ownership stake held since 2006, is believed to be the highest for a majority stake purchase in MLS history, outdoing Forbes’ $650 million valuation of the club back in February 2025, which ranked 16th among the league’s 30 teams. 

The agreement would see the Illig family reduce their stake to under 10%, according to reports. However, they are set to retain their positions as governor and alternate governor of Sporting Kansas City, at least in the early stages of the deal. 

Sporting Kansas City only tallied 28 points last season. | Bill Barrett/ISI Photos/Getty Images

While the final purchase price for the Illig family’s majority share could come in at a higher or lower fee based on the calculation of the club’s debt, it is likely to be the most ever paid for a stake in a team, with MLS valuations continuing to skyrocket ahead of the league’s 31st season. 

“Peter Mallouk is now the majority shareholder of the club,” the club told the Kansas City Star in a statement. 

“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,” Sporting KC’s statement read. “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.”

In Forbes’ recent estimates of MLS club valuations, three clubs in the league came in at over $1 billion, with LAFC leading at $1.25 billion. Meanwhile, other recent deals include the Haslam Sports Group selling 10% in Columbus Crew to investors at $900 million, as well as Austin FC’s addition of five minority owners at a $912 million valuation. 

Currently, Seattle Sounders are also seeking new investment, while Vancouver Whitecaps and San Jose Earthquakes are seeking complete rehaul at ownership and significant new investors. 

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MLS Schedule Shift Hits Kansas City

Sporting Kansas City have had plenty of snowy and cold days in their MLS history. | Kyle Rivas/Getty Images

Sporting Kansas City are among the clubs likely to be heavily hit by the upcoming schedule shift in MLS, as the league moves to align with top European leagues by playing from July through May, including through Kansas City’s brutal winters. 

In February 2025, the club hosted Inter Miami in the Concacaf Champions Cup, with temperatures dipping to three degrees Fahrenheit and a feel-like temperature of negative eight degrees Fahrenheit, setting a record for the competition. However, most clubs are confident that the shift will help MLS elevate its position in the global marketplace. 

At the same time, the ownership shift comes ahead of the 2026 World Cup, which is expected to boost soccer's popularity across the United States. Plus, Apple TV and MLS restructured their broadcast and streaming model to be included in standard Apple TV subscriptions, automatically increasing the league’s reach. 

Entering the 2026 season, the club does not have a naming rights deal for its stadium, which currently goes by the moniker “Sporting Park” rather than “Children’s Mercy Park,” as it had been known since 2015. 

After missing the 2025 MLS Cup playoffs with a last-place finish in the Western Conference, the club also named former New York City FC sporting director, David Lee as the President of Soccer Operations and General Manager, with greater goals in 2026 and beyond. 

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