Five MLS franchises top $1 billion, with the average team worth $721 million, in Sportico’s valuations announced on Thursday.

Los Angeles FC again leads the 29-team league with a 2025 valuation of $1.28 billion, an 11 percent increase from a year ago.

The other four reaching the $1 billion plateau are superstar Lionel Messi’s Inter Miami ($1.19 billion; 17 percent increase), LA Galaxy ($1.11 billion; 11 percent increase); Atlanta United ($1.08 billion, 3 percent increase) and New York City FC ($1 billion, 19 percent increase).

Inter Miami and the Galaxy each moved up one spot from the 2024 rankings, with Atlanta United slipping two spots.

CF Montreal again ranked last at $450 million, which was a 2 percent increase.

The 29 franchises collectively are worth $20.9 billion, with the league adding San Diego FC this coming season. The average is a 6 percent increase from 2024.

Sportico defines the 2025 valuation as the sum of the current market value of an MLS franchise combined with the value of team-related businesses and real estate holdings.

Also factored in are other assets in the total value and club ownership stakes in MLS Next Pro teams (launched in 2022) and the National Women’s Soccer League teams in Houston, Orlando, Seattle and Utah.

Sportico’s research included publicly available information and financial records as well as interviews with sources knowledgeable of team finances.

The 2025 MLS franchise valuations ranking:

1. Los Angeles FC, $1.28 billion (+11 percent one-year value change)
2. Inter Miami FC, $1.19 billion (+17)
3. La Galaxy, $1.11 billion (+11)
4. Atlanta United, $1.08 billion (+3)
5. New York City FC, $1 billion (+19)
6. Austin FC, $865 million (+8)
7. Seattle Sounders FC, $825 million (+4)
8. Columbus Crew, $730 million (+12)
9. FC Cincinnati, $725 million (+12)
10. Toronto FC, $725 million (0)
11. Portland Timbers, $720 million (+1)
12. D.C. United, $720 million (0)
13. Charlotte FC, $705 million (+8)
14. Philadelphia Union, $700 million (+2)
15. St. Louis City SC, $655 million (+5)
16. Minnesota United FC, $655 million (+2)
17. Sporting Kansas City, $650 million (+3)
18. New York Red Bulls, $645 million (+5)
19. Nashville SC, $640 million (+1)
20. San Jose Earthquakes, $600 million (+7)
21. Houston Dynamo FC, $580 million (+5)
22. Chicago Fire FC, $575 million (+6)
23. FC Dallas, $540 million (+4)
24. Orlando City SC, $535 million (+6)
25. New England Revolution, $530 million (+6)
26. Real Salt Lake, $525 million (+3)
27. Colorado Rapids, $475 million (+3)
28. Vancouver Whitecaps FC, $470 million (0)
29. CF Montreal, $450 million (+2)

–Field Level Media