By the Numbers
Although the World Cup’s impact on MLS valuations and popularity cannot be easily predicted, recent World Cup viewership data illustrates clear potential.
U.S. viewership is directly influenced by the host location and the U.S. team’s success, contextualizing drops in viewership during the 2018 World Cup in Russia, which the U.S. missed, and the 2022 World Cup in Qatar that was uncharacteristically played in late fall. The 2014 World Cup in Brazil saw record U.S. viewership, with 76.7 billion minutes watched, as match times largely aligned with U.S. time zones and the U.S. fielded a competitive squad.
There is significant opportunity to expand the supporter base across the 11 U.S. host cities. Fewer than half of residents in each city are classified as soccer fans, with Atlanta, Boston, Philadelphia and Kansas City remaining largely untapped markets.
Americans’ soccer viewership has already been increasing. Each of the last four major international tournaments have enjoyed viewership increases of at least 20.5% compared to the previous iterations. The 2024 Copa America and 2025 UEFA Women’s EURO saw spikes of over 100%. The 2026 World Cup could beat all of them.
How the MLS Got Here
Since the 1994 World Cup spurred the establishment of MLS, the league has grown from a developmental project to a legitimately competitive league with 30 teams across the U.S. and Canada. League popularity and quality have steadily grown since inception, with early international stars such as David Beckham paving the way for a more consistent batch of quality signings across the league. Since 2010, the league has nearly doubled in size from 16 to 30 franchises.
The value of league franchises has been skyrocketing as well. San Diego F.C. recently paid a record $500 million expansion fee to become the 30th franchise last year. Meanwhile, a stake in Sporting KC sold earlier this year with an implied enterprise valuation of approximately $700 million. As of the 2026 season, five of the 30 franchises are valued at $1 billion or more. Just six years ago, no team was worth more than $500 million.
In 2022, Spanish midfielder Riqui Puig signed with the LA Galaxy at age 22 from F.C. Barcelona, a transfer that underscored the league’s ascension and transition away from its retirement league reputation. Puig, who was once regarded as a top F.C. Barcelona prospect, has developed into a star in the MLS.
The league’s closed structure, without relegation, differentiates the MLS from major European leagues. Some view this as a detriment. For league franchises, this stability is ultimately what can enable them to attract top talent.
MLS’ smaller American counterpart, the United Soccer League (USL), has long flown under the radar in comparison but made headlines in 2025 for announcing a promotion and relegation structure designed to better compete with the MLS. Through a three-tier league system set to launch in 2028, the USL aims to add intrigue but introduces planning complexities, such as stadium design and unpredictable financials, that the MLS is not structured to absorb.
