Posted on: May 2, 2026, 05:24h.
Last updated on: May 2, 2026, 05:24h.
- Billionaire makes formal bid with MLS on behalf of investor group to buy the team and move it to Las Vegas
- Whitecaps, for sale since 2024, have cited economic obstacles running the team in Vancouver
- MLS issues statement making commitment to keeping the team in Vancouver
A billionaire has stepped forward on behalf of an investor group to file a formal bid with Major League Soccer (MLS) to purchase the Vancouver Whitecaps and move the team to Las Vegas.
Las Vegas Bound?
Grant Gustavson, the son of billionaire Tamara Gustavson, one of the wealthiest women in North America, is the name that has come forward. A spokesperson for Gustavson and the investor group confirmed the report to CBC News, a story that was first reported in The Athletic.
The spokesperson for the group told CBC they are funding the endeavour privately and wouldn’t share details of the proposal. But the spokesperson did confirm the objective is to move the team to Las Vegas. They also said the group is “not connected to any of the recently announced arena ideas in Las Vegas.”
The team has had success on the field – the Whitecaps played in the MLS Cup last December, losing to Lionel Messi’s Inter Miami CF. This season, the Whitecaps sit in second place in the MLS’ Western Conference, with a record of 8-0-1.
However team executives and MLS CEO Don Garber have talked about how economically challenging it is for the team in Vancouver. The owners of the team, which includes former NBA star and local boy Steve Nash, put the team up for sale in 2024.
Stadium Lease Issues
The economic challenges in large part are tied to the team’s lease at BC Place, which restricts matchday revenue opportunities combined with limited scheduling flexibility. BC Place, which isn’t a soccer-specific stadium, is owned by the province. MLS owners have met to discuss the Whitecaps situation and Garber has said things are reaching a critical point.
MLS is reportedly reviewing all options, including keeping the team in Vancouver, with a preference to find a path that allows the Whitecaps to continue to grow and succeed in Vancouver, the league said. However a report in The Athletic said the league is also exploring moving the franchise, with Las Vegas being the top candidate city.
Sportico valued the Whitecaps at $450 million – 28th out of 29 teams in the league. In May 2023 a $500 million franchise fee was paid to secure MLS’ 30th team in San Diego.
Business Challenges
The Whitecaps owners reportedly haven’t been able to find a buyer, as yet, to keep the team in Vancouver. Local fans have expressed their desire to keep the team in Vancouver, including a “Save the Caps” campaign at BC Place, where the team plays.
On April 27, the Whitecaps issued a statement:
We are aware of today’s reporting. The club has faced well-documented structural challenges around stadium economics, venue access, and revenue limitations that have made it difficult to attract buyers committed to keeping the team in Vancouver. Over the past 16 months, we have had serious conversations with more than 100 parties, and to date, no viable offer has emerged that would keep the club here.
“It remains the strong preference of this ownership group to find a solution in Vancouver. If there is a local ownership group with the vision and resources to chart a path forward, we urge them to come forward.”
Vancouver’s MLB Bid
The Whitecaps story comes at an interesting time for Vancouver and sports fans there. The city is hosting seven FIFA World Cup soccer matches this summer.
And last week, a story broke that Vancouver’s Mayor Ken Sim is leading an effort to land a Major League Baseball franchise for the city. Vancouver city council approved a plan to identify and evaluate potential owners to make a bid for an MLB expansion franchise. A source told Sportsnet there are several parties interested in bringing a team to Vancouver.
The city will choose the preferred candidate in August, the story said. After that, there will be a move to engage MLB further in a discussion. Stadiums designs are underway with one of the investor groups, Sportsnet reported.
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