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Jeff Carlisle
The Seattle Sounders FC announced on Thursday that they are pursuing a “strategic capital raise” to attract substantial outside investment, potentially aimed at funding the construction of a dedicated soccer stadium.
In their statement, the Sounders revealed they have engaged Moelis & Co. to facilitate the search for this additional funding.
As reported by Sportico, the investment will be focused solely on the Sounders and will not extend to the NWSL team, Seattle Reign, which was acquired by the Sounders last year for an estimated $58 million.
The Sounders are looking for a considerable strategic partner, marking a departure from the previous minority investment arrangements involving figures like Russell Wilson and Ken Griffey Jr.
This initiative represents the first push for outside investment since 2009, with Sportico estimating the current value of the Sounders at $825 million.
The Sounders have consistently ranked among the top MLS clubs in terms of both attendance and on-field performance. This year, they finished second in attendance, trailing only Atlanta United. The team has also claimed two MLS Cup titles (2016 and 2019) and a Concacaf Champions Cup championship (2022).
With this investment, the Sounders aim to enhance the development of their Longacres site in Renton, Washington, which currently hosts their headquarters and training facilities.
The team’s lease at Lumen Field, their current stadium, is set to expire in 2032. The Sounders are considering the prospect of building a stadium at Longacres and will explore that option further with the influx of new capital.
“I am incredibly proud of what Sounders FC stands for in our community and the larger North American soccer landscape,” stated Seattle’s majority owner, Adrian Hanauer.
“We have established a foundation of excellence over the past 51 years, and we believe now is the right time to seek additional partners who can support our vision for the next 50 years.”
Hanauer has been the majority owner since 2015, when he purchased the stake from founding investor Joe Roth. The new investors are expected to acquire a minority ownership interest, although the possibility of a majority takeover remains open.
If the Sounders successfully engage new investors, they will join the ranks of other MLS teams that have undergone sales or attracted additional capital in advance of the upcoming FIFA World Cup, which is projected to boost growth for the league and its franchises.
Last April, Real Salt Lake was sold to the Miller Family for around $600 million. The Vancouver Whitecaps and San Jose Earthquakes are currently on the market, while Austin FC and the Columbus Crew have recently secured additional investments, with the Crew’s funding involving a 10% equity stake sold to current minority owner Peter Edwards Jr.