Haslam Sports Group has sold a 10% stake in the Crew in a deal valuing the MLS franchise at $900M, according to a source familiar with the deal. The family of former team physician Pete Edwards, who have been investors in the Crew since HSG became the club’s control owners in 2018, purchased the 10% stake. HSG now owns 70% of the club, with the Edwards family holding the remaining 30%.
Sportico first reported HSG’s sale of an additional 10% stake to the Edwards family. The Crew declined to comment on the transaction.
The Crew have been among the most successful MLS franchises on and off the pitch in the Haslam-Edwards era. The club won MLS Cup titles in 2020 and 2023 while selling out nearly every home match since opening Lower.com Field for $314M in 2021. Ownership has already added premium spaces and even discussed investing in an expansion of the 20,000-seat soccer-specific stadium to accommodate more fans.
The Crew’s $900M valuation in the transaction is the latest data point indicating that MLS franchise values are on the rise. Earlier this year, the family of late Jazz owner Larry Miller purchased a controlling stake in Real Salt Lake, the NWSL’s Utah Royals and their respective facilities at a combined valuation of $600M. That was up from the roughly $400M David Blitzer and Ryan Smith paid in 2022, though that likely had more to do with the rise in NWSL valuations. Minority stakes in NYC FC and FC Cincinnatti have reportedly sold at valuations of $1.5B and $939M, respectively, in the past year.
Two other MLS franchises, the Whitecaps and Earthquakes, are currently up for sale.
