The Billionaire Boys Club Takes Over US Soccer

Recent announcements surrounding Mauricio Pochettino’s extended tenure as head coach of the US Men’s National Team and Larry Berg’s appointment as Commissioner of Major League Soccer have generated significant excitement in American soccer circles. However, beneath these high-profile moves lies a more insidious trend: the increasing influence of finance giants on the sport.

Ken Griffin, founder and CEO of Citadel, played a key role in securing Pochettino’s deal by making a philanthropic leadership gift to U.S. Soccer. This relationship raises questions about Griffin’s motivations, given that his primary interest lies in leveraging his financial muscle to further his own business interests rather than nurturing the sport itself.

Berg, the new Commissioner of MLS, brings a background in private equity and a track record of driving growth and efficiency. However, he acknowledged at his press conference that there are inherent conflicts between the values of private equity – which prioritize profit above all else – and those of sports ownership, where community-driven organization is paramount.

Berg’s experience with LAFC has been touted as evidence that his business acumen can be adapted to the world of soccer. However, this narrative overlooks the fact that private equity firms like Apollo Global Management have historically prioritized short-term gains over long-term stability and sustainability. The implications for MLS are clear: as Berg seeks to drive growth and increase revenue, there is a risk that the sport’s values will be compromised in the process.

Don Garber, outgoing Commissioner, acknowledged this tension during his farewell address. He recalled advice from former NFL commissioner Paul Tagliabue, who warned him of the dangers of relying too heavily on leverage to achieve success. Garber also shared an anecdote about the importance of keeping owners who dislike him away from those who are undecided – a strategy that will be put to the test as Berg navigates the complex web of relationships within MLS.

The increasing involvement of finance giants in US soccer raises important questions about the sport’s priorities and values. Will the drive for growth and profit ultimately erode the sense of community and inclusivity that has defined American soccer? As the sport hurtles towards its next decade, it is imperative that fans, players, and stakeholders alike demand greater transparency and accountability from those wielding power at the top.

The billionaire boys club may have taken over US soccer, but it’s not too late to redefine their role. The future of the sport depends on it.