Wall Street Leaders Shape Future of U.S. Soccer

Recent developments this week, combined with an earlier agreement from this year, highlight a clear transformation: major financial institutions from Wall Street and related hubs are becoming essential players in the development of American soccer over the coming ten years.U.S. Soccer announced on M

Recent developments this week, combined with an earlier agreement from this year, highlight a clear transformation: major financial institutions from Wall Street and related hubs are becoming essential players in the development of American soccer over the coming ten years.

U.S. Soccer announced on Monday that Mauricio Pochettino will continue serving as head coach of the United States Men’s National Team until 2030. This extended arrangement received substantial backing through a generous philanthropic contribution from Ken Griffin, who founded and leads the prominent hedge fund and financial services company known as Citadel.

Key Support from Prominent Donors

Griffin once more served as the primary contributor to this initiative, with additional assistance provided by Scott Goodwin, Adam Freede, and various business partners, according to an individual with direct knowledge of the donation. This builds upon his initial involvement starting in 2024, when his support enabled U.S. Soccer to bring Pochettino on board ahead of the 2026 World Cup hosted in the United States.

On the same day Pochettino’s continued role was officially verified, Major League Soccer appointed its third commissioner to replace Don Garber. The new leader is Larry Berg, who serves as a co-owner of the prominent MLS team LAFC and brings nearly thirty years of experience from the private equity and private credit sectors, particularly through his long tenure at Apollo Global Management. Berg advanced to the position of senior partner at Apollo before transitioning in 2023 to 26North, a private equity organization associated with Josh Harris, the individual whose Philadelphia 76ers recently signed LeBron James.

Background in Private Equity Influences Approach

During a press event held at Major League Soccer’s New York headquarters, Berg emphasized that his extensive history in private equity played a significant role in securing the commissioner position and continues to shape his leadership style. He explained that numerous attributes common in private equity environments translate effectively to other fields, including a strong sense of urgency, willingness to engage directly in operations, asking insightful questions, and uniting teams around shared objectives. These elements create clear connections, and his prior service on multiple boards has equipped him with valuable governance expertise.

Berg noted that these same skills proved beneficial during his time with LAFC, where he applied lessons from previous investments in soccer clubs to help operate one successfully. He expressed confidence that such experience will similarly aid his new responsibilities at the league level.

His fellow LAFC co-owner Bennett Rosenthal, who co-chaired the committee responsible for selecting Berg and who co-founded the private equity firm Ares Capital Management, highlighted the unique aspects of how private equity operates within sports ownership. Rosenthal explained that while private equity typically acquires majority control in standard businesses and implements changes to benefit shareholders, sports investments are limited to a maximum of thirty percent ownership without governance rights. He stressed the importance of recognizing Berg as a broad-based business professional rather than solely viewing him through a private equity lens.

Insights on League Governance and Ownership Dynamics

Berg focused his acceptance comments on his twelve years as a team owner rather than his finance background. He addressed the MLS ownership group directly, acknowledging the dedication, enthusiasm, and forward-thinking strategies that have driven the league’s progress. Owners committed resources without assured outcomes and maintained belief when others hesitated, ultimately creating something exceptional together. Berg described the commissioner role primarily as one of governance, involving coordination among thirty owners and numerous other stakeholders.

Jimmy Haslam, owner of the Columbus Crew and a more traditional billionaire from the trucking industry, served as the other co-chair of the succession committee. He confirmed that the broader ownership base participated actively throughout the search process. Five additional owners joined the committee, and overall involvement from the ownership group proved substantial. Haslam credited Garber with originally assembling this ownership collective, noting that Garber had personally recruited twenty-eight of the current thirty owners.

Haslam further observed that Berg’s professional background instilled confidence among owners during the selection. His understanding of success factors such as people, processes, and culture, developed through his LAFC experience, demonstrated his ability to collaborate effectively, analyze data thoroughly, and reach sound decisions—qualities that define strong private equity investors.

Reflections from Outgoing Leadership

Outgoing commissioner Garber shared personal reflections on ownership relations, recalling advice from his former NFL supervisor Paul Tagliabue when he assumed the MLS role in 1999. Tagliabue warned about operating without leverage and advised keeping dissenting owners separated from those still undecided. Garber indicated that neither suggestion remains applicable to the current MLS ownership structure, which demonstrates strong internal connections and alignment with league leadership and staff, eliminating the need for deliberate alignment efforts.

Commercial Rights Partnership with Institutional Investors

An additional element of this financial shift involves MLS operations below the first-team level and predates the recent announcements. In April, MLS established a fifty-fifty joint venture named Hometown Soccer Holdings with KKR. This arrangement, valued between one hundred fifty and two hundred million dollars, centralizes management of commercial rights for most MLS NEXT Pro clubs. Affiliated MLS teams retain authority over soccer operations including coaching, player contracts, and travel, while the joint venture handles venue relations, ticketing, marketing, local media, and other revenue activities.

Berg referenced this partnership during the press conference when discussing institutional capital. He noted that his three decades of private equity experience positions him well to advance initiatives of this nature. The increasing presence of private equity in major American sports leagues has intensified since 2019, when MLB first permitted institutional investors to acquire minority stakes in teams. The NBA, NHL, and MLS soon adopted similar policies, followed by the NFL in 2024. This ongoing evolution continues to influence how leagues like MLS pursue long-term growth and stability.