The buyer is Peter Mallouk, president and CEO of Creative Planning, who has held a minority stake since 2022; Mallouk’s acquisition would make him the majority shareholder, with the Illig family continuing to manage day-to-day operations and serve on MLS’s Board of Governors.

The story was published January 16, 2026, with sale details reported by The Star and Forbes.

At publication, the specific buyer identity could not be confirmed, and ownership pages show evolving involvement from other current owners.

Forbes valued Sporting KC at about $700 million following the deal, up from roughly $650 million in 2024, with estimated 2024 revenue around $75 million.

Recent leadership changes include parting with longtime manager Peter Vermes about ten months ago, with David Lee named GM and Raphael Wicky appointed head coach earlier this month.

Sporting Kansas City’s Illig family agreed to sell a majority stake of the club for an enterprise value around $700 million, transferring roughly 71% of the team to the buyer and reducing the Illigs’ stake to just under 10% while the buyer would own about 80% of Sporting KC.

Sporting KC emphasizes its community and World Cup footprint, highlighting preseason facilities, KC2026 committee work, and 2026 World Cup games planned at GEHA Field at Arrowhead Stadium.

Sporting KC and MLS officials state there are no changes to management or MLS governance involvement at this stage.

MLS valuations have climbed, with league-wide values averaging about $690 million in 2025 and several clubs exceeding $1 billion, led by LAFC at roughly $1.25 billion.

The deal reflects a broader MLS trend of rising franchise values as the league heads into its 31st season.

Mallouk’s purchase would consolidate ownership, while the Illig family would continue to oversee day-to-day operations and remain represented on MLS’s Board of Governors.

OnGoal’s founding group, including Cerner’s Neal Patterson and Cliff Illig, purchased the Wizards in 2006, rebranded to Sporting KC in 2011, with notable investments from Patrick Mahomes and development of facilities and the stadium.