Sounders valued at $660M, 9% less than 2022

Forbes appears to have attempted some recalibration.

For the first time since various publications started attempting to place valuations on MLS teams, the Seattle Sounders saw a decline. Forbes’ $660 million valuation of the Sounders is about 9% less than Sportico’s estimation in 2022. It’s also less than a real-world valuation that put the Sounders at $680 million just last year. Only four teams saw their valuations drop by a larger percentage and only the Chicago Fire ($95 million) went down by a larger amount.

The Sounders are estimated to be the eighth-most valuable team in MLS, the first time they’ve ever been ranked outside the Top 5. As recently as 2016, Forbes gave them the highest valuation in MLS at $285 million. In 2019, Forbes had them rated as fourth most valuable, which is also where Sportico ranked them last year. D.C. United ($700M), NYCFC ($700M), Toronto FC ($690M) and Austin FC ($680M) all jumped the Sounders.

Why the Sounders fell down the ranking amount is not entirely clear, but there does seem to have been an attempt to “course correct” from previous valuations that may have been inflated, as the total value of the league declined by 1.35% compared to Sportico’s valuations last year. Still, Forbes’ estimation that the Sounders brought in $66 million in 2022 is no different than what Sportico estimated they did in 2021. Notably, this valuation does not include the Sounders’ recent Providence sponsorship, which is reportedly worth close to $100 million over its 10-year life, making it one of the most lucrative sponsorships in league history.

According to Forbes’ methodology stadium and land are not factored into the valuation, but revenue from non-MLS events is considered.