In January, as Inter Miami set foot in El Salvador for its initial preseason match of 2024, Lionel Messi, arguably the world’s most renowned athlete, was met with fervent cheers from hundreds of fans. This warm reception in a foreign land would have been inconceivable just eight months prior when Inter Miami, a recent addition to Major League Soccer (MLS), struggled at the bottom with limited global recognition. However, everything changed in June when Messi announced his move to South Florida, significantly altering the trajectory of the franchise.
The impact was swift. Within a month of Messi’s arrival, Inter Miami secured its first-ever trophy, the Leagues Cup, with a thrilling penalty shootout victory. Off the field, Messi, an eight-time Ballon d’Or winner, catalyzed the team’s business operations, leading to a revenue surge from $56 million in 2022 to $118 million in 2023. Forbes now estimates Inter Miami as the second-most-valuable MLS team, valued at $1.03 billion, marking a 72% increase from the previous year. The franchise follows in the footsteps of LAFC, becoming the second in league history to achieve a billion-dollar valuation.
Messi’s influence extends beyond the pitch, with Inter Miami strategically capitalizing on his commercial potential. The club renegotiated sponsorship agreements with escalator clauses tied to the acquisition of a player of Messi’s caliber, ensuring increased revenues. Partnerships, including a historic deal with Royal Caribbean, were strategically aligned with Messi’s anticipated arrival. The full season with Messi promises further upside, including higher attendance and ticket prices. Inter Miami anticipates surpassing $200 million in revenue in 2024, setting a league record.
However, the club faces a time-limited opportunity, given Messi’s contract duration of two seasons. Upon his departure, Inter Miami must navigate the challenge of maintaining fan interest, global popularity, and brand equity. The completion of Miami Freedom Park in 2025 is expected to provide a boost. The broader question looms for MLS, grappling with the absence of blockbuster national media rights revenue and the financial struggles of several teams.
Messi’s move doubled MLS Season Pass subscribers, but retaining them post-Messi is crucial. The 2026 World Cup could further propel MLS growth. Meanwhile, Inter Miami’s impact extends to other franchises hosting games against them, enjoying substantial revenue increases. The league experiences a 20% rise in average revenue to $66 million in 2023, with rising valuations making MLS an attractive option for sports team ownership.
In its debut appearance on the list, St. Louis City SC ranks 11th at $680 million, posting a stellar first season in 2023. LAFC retains the top spot at $1.2 billion, turning a $9 million operating profit on a league-high $140 million in revenue for 2023. The club’s success extends beyond MLS, with ventures into soccer teams globally and diverse non-MLS businesses.