Is MLS the New Cash Cow of Soccer: A League Still Growing or Ready to Dominate?

The MLS has been receiving significant attention throughout the years, especially with the addition of global stars to the league. While the MLS is still far away from matching the top European leagues in terms of popularity and revenues, it is becoming attractive for soccer players and investors. In recent years, we’ve seen more soccer stars showing interest in playing in the U.S, drawn by the opportunity to enjoy a good lifestyle while earning a substantial income. Let's take a closer look and see if the MLS is ready to become the next cash cow of soccer in the coming years.

Growing Investment across the MLS

Over these past 10 years, the MLS have made significant efforts to expand the league as much as possible. From 2011 till 2025, the MLS expanded from 16 teams to 30, with potential for further expansion. Additionally, the league is focusing on developing more soccer-specific stadiums to generate higher matchday revenue and attract better media right deals. 

In the beginning, the MLS struggled to secure TV coverage, as broadcasters were uncertain about the value of airing live MLS matches. However, the league has since managed to secure more lucrative deals. In 2023, the MLS landed a landmark deal with Apple TV, worth around $2.5B over 10 years. This deal allows the MLS to broadcast all the games globally, aiming to boost international visibility and profit making. 

Apple TV and MLS announcing their partnership to broadcast live MLS matches

In recent years, there has been a significant increase in corporate sponsorship for the MLS. The league has partnered with major brands such as Adidas, EA Sports and Gatorade, while several teams have secured lucrative shirt sponsorships. This commercial investment has the potential to grow even further, as tech companies and financial firms in the sponsorship sector are interested to collaborate with the MLS to grow the league's commercial profile.

Famous Player Signings

The MLS secured high-profile signings in recent years, aiming to capture the attention of viewers worldwide and attract global attention. David Beckham was the first major soccer star to join the league, paving the way for others like Zlatan Ibrahimović, who signed with LA Galaxy in 2018. The most notable recent addition is Lionel Messi, who joined the MLS in 2023, capturing worldwide media attention and significantly boosting the league's commercial value. Messi's signing is widely seen as a major milestone in the MLS's history.

In recent years, MLS clubs have increased their spending to attract top players, operating under the designated player regulation. Designated players allows the club to exceed the salary cap, allowing the club to get 3 designated players per season. These signings are aimed at strengthening squads and elevating commercial strategy, ensuring the league remains competitive while attracting more talent to the MLS.

Zlatan Ibrahimović in action for LA Galaxy in 2018

Merchandising and Fan Engagement

Merchandising is very important for a club to generate money. When a club signs a star player who performs well in the league, merchandising automatically gets popular domestically and internationally. Fans are more likely to purchase the club's kit due to the player's form. Additionally, soccer fans buy the kit not necessarily to support the team, but to show admiration for the superstars playing at the club. 

Social media plays an integral role in MLS's growth, in being recognized globally. The league's active presence on platforms such as Facebook, Instagram, Twitter and TikTok has expanded its reach significantly, especially to younger soccer fans who follow only superstars. For MLS, this is important because it can attract advertising platforms and sponsors that are targeting the younger generation as their target audience.

Soccer fans wearing Inter Miami's Messi shirt

Challenges that MLS face

While the MLS have grown significantly throughout these past years, it still faces competition from Europe's top leagues when it comes to financial power and team quality. The top 5 teams in Europe offer a higher level of competition compared to MLS clubs, as well as greater commercial revenues and more money making media rights. Currently, MLS clubs are working with a strategy of attracting superstars in their mid 30's (Messi, Ibrahimović ,Beckham), which is gainful in the short-term, but it doesn't always guarantee long-term success. 

The strategy should be balanced, focusing on attracting younger superstars while developing homegrown talent. This strategy would automatically increase competitiveness and improve the overall level of play among clubs. The salary cap is another issue for MLS clubs to attract superstars. The salary cap places a strict wage limit that prevents clubs from signing any player they want. Although there is the Designated player rule, there are still some financial issues that prevents clubs from competing with other top European Clubs in terms of wages. 

MLS Growth Economically

MLS's overall revenue has grown significantly throughout these past years, thanks to important agreements with new sponsors, longer media rights deals, and increasing fan engagement. MLS's latest record total revenue was over $2B, with even greater growth targeted in the coming years. The league is emerging as an attractive opportunity for investors looking to benefit from the global growth of soccer, particularly with the high anticipation of the 2026 World Cup.

In my opinion, MLS is still far away to be called the new cash cow of soccer, since it is still growing, and every club has financial restrictions it must abide by. Clubs are still developing, with most trying to bring superstars to improve the league. In the future, if these restrictions are removed, maybe we will see more money spent by clubs, with players coming to MLS for both lifestyle and soccer purposes.

Do you think that the MLS can be considered as the new cash cow of soccer?