-
Jeff Carlisle
Multiple Authors
Grant Gustavson, son of billionaire Tamara Gustavson, is at the helm of an investment group that has officially proposed acquiring the Vancouver Whitecaps with plans to move the franchise to Las Vegas, as confirmed by a representative for the group to ESPN.
At 30 years old, Gustavson resides in Las Vegas. His proposal, pending acceptance by the current Whitecaps ownership and approval from the MLS board of governors, includes plans to construct a stadium in Las Vegas.
The team would initially compete in a temporary venue until the new stadium is completed. However, the spokesperson chose not to specify the initial venue.
– Garber addressing Vancouver ‘liar’ post: Account hacked
– MLS Power Rankings: Reus, Galaxy taking the league by storm
This bid was initially reported by the Las Vegas Review-Journal.
Tamara Gustavson is the largest shareholder of Public Storage, boasting a net worth of $8.6 billion. She inherited the company from her father, B. Wayne Hughes.
“The investment group will self-finance this initiative and is not associated with any of the newly proposed arena plans in Las Vegas,” stated Gustavson’s group. “In the upcoming weeks and months, we are eager to disclose more about our plans, but in light of the league’s discussions and community stakeholders, we’re refraining from sharing additional details at this time.”
“We are committed to working towards a favorable outcome for the game, the fans, the league, and Las Vegas.”
Grant Gustavson graduated with a degree in business administration focusing on real estate finance from the University of Southern California Marshall School of Business. He contributed to the establishment of USC’s athletic department’s NIL initiative and has worked closely with the basketball coaching staff in recruiting and roster management. Additionally, he remains deeply involved in running his family’s thoroughbred racehorse farm.
The Whitecaps have been available for purchase since December 2024. According to the club, despite engaging in “serious discussions with over 100 interested parties, no viable offers have surfaced that would keep the club in Vancouver.”
While both MLS and the Whitecaps express a desire to maintain the team in Vancouver, the league has started to consider potential relocation options.
ESPN sources reported that a subcommittee of MLS owners convened recently to deliberate on this subject, revealing interest from an investment consortium from Phoenix as well.
The primary challenge in retaining the team in Vancouver lies in the economics of the Whitecaps’ current stadium, BC Place, which is owned by the Provincial Crown Corporation, PavCo.
Recently, the team signed a new lease at BC Place with enhanced economic conditions, which included returning $1 million to $1.5 million in revenue that PavCo gains from renting the venue to the Whitecaps. However, Whitecaps CEO Axel Schuster has indicated that these improved terms are insufficient for the team’s financial viability.
In December, the Whitecaps and the City of Vancouver executed a memorandum of understanding concerning the potential development of a new stadium and entertainment district in Hastings Park. However, Vancouver Mayor Ken Sim noted that this process could span “four-plus years,” a timeframe deemed too slow by MLS.
Recently, MLS commissioner Don Garber held discussions with British Columbia Premier David Eby regarding methods to keep the Whitecaps in Vancouver. Eby described the talks as “constructive,” pointing out that while the province has offered financial concessions related to BC Place, they will not purchase the team.
Post-meeting, Eby conveyed to the press that the province would not relinquish control of the provincially owned venue to the Whitecaps to ensure financial stability for the club, adding that the team has shown no inclination towards that option.
In the meantime, the team’s supporters have initiated a “Save the Caps” movement, displaying banners and signs with the slogan during the latest match against the Colorado Rapids.
Outside the FIFA Congress in Vancouver on Thursday, around 100 Whitecaps supporters staged a protest against the potential relocation.
“We should all be concerned, especially long before Vegas entered the discussion – we’ve been worried,” Sim stated to reporters at the congress. “We’ve been addressing this for over a year. We cannot dictate the actions of other interested groups, only our own trajectory.”
Sim sat beside Garber during the congress, emphasizing that the MLS commissioner supports the team’s continued presence in the city.
“Without disclosing specifics, I can confirm that the commissioner is invested in the success of football in Vancouver, which is encouraging,” he said.
“Ultimately, the financials have to align with whoever the future owner may be. We recognize the strong affection for the Whitecaps in Vancouver. It’s ingrained in our history and culture.”
“As it stands, they have a stadium agreement that is not sustainable,” he elaborated, “and we are actively navigating through these challenges.”
ESPN’s Cesar Hernandez contributed to this report.