Forbes released their list of most valuable MLS clubs based on data from the 2022 league season.

Defending MLS Cup winners Los Angeles FC is on top of the list with an overall value of $1 billion, making it the league’s first billion-dollar franchise. LAFC’s value has more than doubled since Forbes valued it at $475 million back in 2019.

LAFC’s 2022 revenue was $116 million and its operating income was $8 million, joining D.C. United as the only two teams to have operating incomes over $4 million.

The L.A. Galaxy came in second place with a net worth of $925 million. Rounding out the top five franchises are Atlanta United ($850 million), New York City FC ($800 million), and D.C United ($700 million).

Defending MLS Cup finalists Philadelphia Union ranked among the Top-15 most valuable MLS clubs, despite having an operating income of $-8 million.

A major driving factor heading into the future revolves around the growing popularity of the sport in the United States, especially with the 2026 FIFA World Cup coming to North America. In addition, MLS’ new media rights deal with Apple, will guarantee the league at least $2.5 billion over 10 years.

Here’s a full look at Forbes’ valuations for each team:

1.) Los Angeles FC – $1 billion
2.) L.A. Galaxy – $925 million
3.) Atlanta United – $850 million
4.) New York City FC – $800 million
5.) D.C. United – $700 million
6.) Toronto FC – $690 million
7.) Austin FC – $680 million
8.) Seattle Sounders – $660 million
9.) Portland Timbers – $650 million
10.) Charlotte FC – $625 million
11.) Inter Miami – $600 million
12.) Sporting KC – $590 million
13.) Philadelphia Union – $575 million
14.) FC Cincinnati – $560 million
15.) Columbus Crew – $550 million
16.) Minnesota United – $540 million
17.) New York Red Bulls – $525 million
18.) Nashville SC – $500 million
19.) New England Revolution – $475 million
20.) San Jose Earthquakes – $450 million
21.) Real Salt Lake – $440 million
22.) Houston Dynamo – $435 million
23.) Chicago Fire – $425 million
24.) Orlando City – $420 million
25.) Vancouver Whitecaps – $410 million
26.) FC Dallas – $400 million
27.) CF Montreal – $375 million
28.) Colorado Rapids – $350 million