Billionaire Hedge Fund Manager Wins Charlotte MLS Franchise for $325M Expansion Fee (GeekyMint.com) Earlier in the week, a leading sports hedge fund manager also known for his billionaire status, David Tepper was formally rewarded with the 30th franchise of Major League Soccer. MLS believes that the move to award its 30th franchise to the famous hedge fund manager, Tepper and city of Charlotte will massively increase the league’s rapid pace of growth. In order to secure the winning bid, the leading sports hedge fund manager, Tepper agreed to pay a record expansion fee of $325 million. The new Charlotte franchise which is yet to be named is all set to play at Bank of America Stadium in the 2021 season.
Sadly MLS is not a good investment...and an expansion team at that which will suck for some time. US professional soccer does not generate the returns it does globally or other US sports. Not much competition for other sports in Charlotte (except Panthers and Hornets whose schedules dont coflict) and it is a large urban center so he might get 20,000 fans a game. I think MLS should work on improving what they have rather than continue to dilute the talent with college graduates and lower level Latin players. But
https://www.espn.com/soccer/reign-f...-rapinoes-nwsl-team-reign-fc-for-$351-million I thought 3.5mm for this was a steal