British Columbia

Vancouver Whitecaps FC owners prepare to sell club

The club's owners, Greg Kerfoot, Steve Luczo, Jeff Mallett and Steve Nash, said in a statement that they had retained investment bank Goldman Sachs to advise them on sale and transition options. 

The current group of owners, Greg Kerfoot, Steve Luczo, Jeff Mallett and Steve Nash, formed in 2008

Next to a glass entryway, a one-storey tall glass sign with the Whitecaps logo reads, Vancouver Whitecaps FC.
The Whitecaps' first Major League Soccer game was in March 2011. (Ben Nelms/CBC)

The owners of the Vancouver Whitecaps announced on Friday they are preparing to sell the club. 

In a statement issued by the club, the group said, "It is the right time for an owner with the platform, resources and ambition to enhance the club's ability to compete at the highest levels of MLS and steward the club in realizing its significant potential."

The group hired Goldman Sachs to help sell the team and guide the transition.

Greg Kerfoot has been the owner of the club since 2002, when it was part of the North American Soccer League. Steve Luczo, Jeff Mallett and former NBA star Steve Nash joined Kerfoot in 2008, and the Whitecaps became part of MLS in 2011.

"It is gratifying to see how meaningful the Whitecaps have become to so many and to have been able to contribute to the growth of a vibrant and thriving soccer community," Kerfoot said.

"The future of the Vancouver Whitecaps is bright."

WATCH | Whitecaps team going up for sale: 

Vancouver Whitecaps FC owners prepare to sell club

17 days ago
Duration 5:05
The owners of the Vancouver Whitecaps have announced they are looking to sell the team, saying the decision comes after "careful consideration" of "what is required to ensure its continued growth and success." The club's CEO, Axel Schuster, spoke to CBC News about their choice.

According to Forbes, the club was worth approximately $583 million last year. The owners did not share any information about potential buyers. 

The Whitecaps FC website says the team was announced in 1973 and started playing in the original North American Soccer League.

Kerfoot first acquired the Whitecaps in 2002 and formed the current ownership group in 2008.

In March 2011, the Whitecaps played its first season in the MLS, where it has played since. 

This year, the team was eliminated from the first round of MLS playoffs after losing a best-of-three matchup to Los Angeles FC. 

Don Garber, commissioner of the MLS, said in a news release the Whitecaps "are a terrific club in a world-class city."

He added the team's success would not be possible without the current owners. 

"I want to thank them for their tremendous contributions and look forward to working with them to identify new ownership for the club," Garber said.

'It felt like a gut punch'

Former play-by-play commentator Peter Schaab said the sale was a smart business move by Kerfoot, who purchased the team for about $35 million US. 

He said because the Whitecaps don't own a stadium or many assets, it could be easier to purchase — or move.

"I honestly could see it going in both different directions," he said. "It's a World Cup venue in a world-class city. So there's not a lot of overhead beyond buying the franchise."

A series of banners with the Vancouver Whitecaps logo and 'The Village'.
The Vancouver Whitecaps' MLS era began in 2011. (Ben Nelms/CBC)

MLS play-by-play commentator Blake Price said the news the owners intended to sell came as a surprise.

"It felt like a gut punch, honestly; it was not something I expected. As a person who lives in Vancouver, I thought that this ownership group would be ironclad for a while longer than this, at the very least."

He said the team's recent success in reaching the MLS playoffs could make the team a tantalizing purchase.

But he said he's not sure whether a new buyer would keep the Whitecaps franchise in Vancouver. 

"I think we should all take the organization at face value right now when they say that the priority is to keep the team in the city," he said. "I wholeheartedly believe that to be the case. I think you have to go into it with eyes wide open, though, that it's going to be tough to find the right person willing to take that on."

With files from The Canadian Press