Peter Mallouk Acquires Majority Stake in Sporting Kansas City

A minority stakeholder in Major League Soccer (MLS) team Sporting Kansas City has successfully completed a transaction to acquire a majority stake from its current owners, as confirmed by sources to ESPN.

Sporting Kansas City has been under the ownership of the Illig family since 2006. According to the source, the family is selling a 71 percent stake to minority owner Peter Mallouk, increasing his overall stake to 80 percent.

The purchase price for this majority stake was based on a valuation of the club at $700 million. A Forbes report from February 21 of last year listed Sporting KC as the 16th most valuable franchise in MLS, valued at $650 million.

While the agreement is finalized, the source indicated that final calculations regarding the debt structure are still pending.

“I was born and raised in Kansas City and have always had a passion for Kansas City sports,” Mallouk stated in an interview with the Kansas City Star. “When the opportunity arose, I was all in. I didn’t hesitate.”

Despite Mallouk becoming the majority shareholder, a statement from the club noted that the Illig family will continue to manage the team’s day-to-day operations and will represent Sporting Kansas City on the MLS Board of Governors.

Forbes was the first to report the sale of the Illig family’s majority stake.

This transaction is part of a larger trend in MLS, characterized by significant investments and ownership changes. For example, the Miller Family acquired RSL Football Holdings last April for approximately $600 million. Additionally, the Haslam Family sold a 10% stake in the Columbus Crew at a $900 million valuation, and Austin FC recently welcomed five new investors at a valuation of $912 million.

Moreover, in October, Seattle Sounders FC announced plans for a “significant capital raise,” while both the San Jose Earthquakes and Vancouver Whitecaps are currently seeking buyers.

Sporting Kansas City, which finished last in the Western Conference last season, is one of the original MLS franchises, having begun play in 1996 under the name Kansas City Wiz. The team faced challenging times when OnGoal—comprised of Neal Patterson, Cliff Illig from Cerner, Pat Curran, Greg Maday, and Robb Heineman—acquired the club from Lamar Hunt in 2006. This group not only ensured the team’s continued presence in Kansas City but also rebranded it to Sporting Kansas City in 2011 and oversaw the construction of what is now known as Sporting Park, along with a new training facility.

The ownership transition coincided with a successful period for the club, which included winning the MLS Cup in 2013 and three U.S. Open Cup titles in 2012, 2015, and 2017. Notably, they also brought Kansas City Chiefs quarterback Patrick Mahomes on board as a minority investor.

However, in recent years, the team has faced difficulties. Longtime coach Peter Vermes was relieved of his duties at the start of the 2025 season after over 15 years in leadership. On January 5, Raphael Wicky, former coach of Young Boys, was appointed as the new head coach of Sporting Kansas City.

ESPN’s Jeff Carlisle contributed to this report.