MLS SPOTLIGHT ON APRIL 2021 - CIES

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SPOTLIGHT ON
   MLS
   APRIL 2021
Governance structures at national association level

CIES SPORTS INTELLIGENCE

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the challenges they are presented with. Within         new regulatory frameworks at national level, to

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tial. CIES Sports Intelligence aims to deliver subs-   issues in hundreds of countries or understand the

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                               3
Governance structures at national association level

METHODOLOGY
The 'Spotlight on MLS' report provides a comprehen-          sis, club-trained players are considered as those having
sive analysis on the evolution and current status of Major   spent at least two consecutive years in the club’s acade-
League Soccer as the North American top-tier division        my before eventually joining the club’s first team.
gets ready to kick-off its 26th season. The study com-
bines off-the-pitch and on-the-pitch data and statis-        All values for the section on player salaries are sourced
tics to deliver a detailed snapshot of the MLS, both at      from the official reports published by the MLS Player
league and individual club level. The report is structured   Association (MLSPA) and refer to a player’s Annualized
across six main areas of analysis:                           Average Guaranteed Compensation. As stated by the
                                                             MLSPA, ‘the Annualized Average Guarantee Compen-
- The league’s expansion since 1996;                         sation (Guaranteed comp) includes a player's base sa-
- The league’s club ownership landscape;                     lary and all signing and guaranteed bonuses annualized
- MLS stadia and average attendances;                        over the term of the player's contract, including option
- Player recruitment strategies of MLS clubs;                years. The Guaranteed Comp figure also includes any
- Player salaries in the MLS;                                marketing bonus and any agent's fees, both annualized
- MLS playing statistics.                                    over the term of the contract. The Average Annual Gua-
                                                             ranteed Compensation figure does not include Perfor-
The report is based on desk research and, with the ex-       mance Bonuses because there is no guarantee that the
ception of a series of playing statistics provided by the    player will hit those bonuses’.
CIES Football Observatory, it exclusively relied on publi-
cly available information. The main source of data was       The playing statistics included in the report are the result
represented by official league and club websites, online     of CIES Sports Intelligence calculations based on values
articles and existing literature. Articles from Forbes.com   from the CIES Football Observatory and integrated with
were used to collect data on the valuation of clubs or the   additional data from FBref. Domestic players are consi-
estimated net worth of club owners. Data has been last       dered as those born either in the USA or Canada. Player
updated on the 12th of April 2021.                           ages were calculated as the time between a player’s bir-
                                                             thdate and June 30th of the year in which each season
For the sections on stadium attendances, figures were        took place.
sourced from the data publicly available on OverLap-
ping Run and cross-checked with the MLS Fact and             The information included in this report has not been ve-
Record book. Figures and information on player recruit-      rified with primary sources or survey to the associations.
ment strategies are the result of CIES analysis based on     As such, the authors do not guarantee the full accuracy
data from Transfermarkt. For the purposes of the analy-      or completeness of the data included in this study.

 CLUB ABBREVIATIONS
 ATL     ATLANTA UNITED FC               MIA    INTER MIAMI CF                         PHI     PHILADELPHIA UNION

 AUS     AUSTIN FC                       LAF    LOS ANGELES FC                         POR     PORTLAND TIMBERS

 CHA     CHARLOTTE FC                   LAG     LOS ANGELES GALAXY                     RSL     REAL SALT LAKE

 CHI     CHICAGO FIRE FC                MIN     MINNESOTA UNITED FC                    SAC     SACRAMENTO REPUBLIC

 CIN     FC CINCINNATI                  MON CF MONTREAL                                SJO     SAN JOSE EARTHQUAKES

 COL     COLORADO RAPIDS                NAS     NASHVILLE SC                           SEA     SEATTLE SOUNDERS FC

 CLB     COLUMBUS CREW SC               NER     NEW ENGLAND REVOLUTION                 SKC     SPORTING KANSAS CITY

 DAL     FC DALLAS                      NYC     NEW YORK CITY FC                       STL     ST. LOUIS CITY SC

 DCU    DC UNITED                       NYR     NEW YORK RED BULLS                     TOR     TORONTO FC

 HOU HOUSTON DYNAMO FC                  ORL     ORLANDO CITY SC                        VAN     VANCOUVER WHITECAPS FC

                                                                           4
5

TABLE OF CONTENTS
THE EXPANSION OF MLS					6
MLS'S OWNERSHIP LANDSCAPE				8
MLS STADIA AND ATTENDANCES				 10
PLAYER RECRUITMENT IN MLS				  12
MLS AND PLAYER SALARIES					14
MLS PLAYING STATISTICS					16

ATLANTA UNITED FC					18
CHICAGO FIRE FC						20
FC CINCINNATI						22
COLORADO RAPIDS						24
COLUMBUS CREW SC					26
FC DALLAS							28
DC UNITED							30
HOUSTON DYNAMO FC					32
INTER MIAMI CF						34
LOS ANGELES FC						36
LOS ANGELES GALAXY					38
MINNESOTA UNITED FC					40
CF MONTRÉAL						42
NASHVILLE SC						44
NEW ENGLAND REVOLUTION				46
NEW YORK CITY FC						48
NEW YORK RED BULLS					50
ORLANDO CITY SC						52
PHILADELPHIA UNION					54
PORTLAND TIMBERS						56
REAL SALT LAKE						58
SAN JOSE EARTHQUAKES					60
SEATTLE SOUNDERS FC					62
SPORTING KANSAS CITY					64
TORONTO FC						66
VANCOUVER WHITECAPS FC				68
AUSTIN FC							70
CHARLOTTE FC						70
SACRAMENTO REPUBLIC FC				71
ST.LOUIS CITY SC						71

AUTHORS: FERNANDO ROITMAN
		FRANCESCO MARINI

CONTRIBUTORS: KEVIN TALLEC MARSTON
              ALBERTO BISONI

Enquires to be sent to sports.intelligence@cies.ch

                                 5
Governance structures at national association level

 THE EXPANSION OF MLS
 A direct legacy of the 1994 FIFA World                                                   partnership with the homonym Mexican                       Nashville SC) and an additional four
 Cup in the USA, Major League Soccer                                                      team. The league’s 10-year anniversary                     teams expected to take the field by
 began as a modest but ambitious enter-                                                   saw the first, and so far only, club relo-                 2023 (Austin FC, Charlotte SC, St. Louis
 prise. Alan Rothenberg, then chairman                                                    cation in its history, when the San Jose                   SC and - although the expansion team is
 of the World Cup organizing committee,                                                   Earthquakes franchise was moved to                         currently on indefinite hold - Sacramento
 announced the creation of the new top-                                                   Houston.                                                   Republic). This will bring the total num-
 flight division on December 17, 1993. Six                                                                                                           ber of MLS to thirty - equaling the likes
 months later, the first seven cities were                                                As MLS courted new markets, its se-                        of the National Basketball Association
 selected, followed by an additional three                                                cond decade was uncontestably one of                       (NBA) and the Major League Baseball
 in June 1995. The ten charter clubs com-                                                 growth. With the exception of the demise                   (MLB) - in what MLS has admitted to
 peting in MLS’s debut in 1996 were the                                                   of the Chivas USA less than ten years af-                  being a possible goal of 32 teams in the
 Colorado Rapids, Columbus Crew, DC                                                       ter its foundation, the league flourished,                 near future.
 United, Dallas Burn, Los Angeles Galaxy,                                                 reaching a total of twenty teams in 2016
 New England Revolution, New York/                                                        with the addition of three Canadian sides                  MLS’s growth is visible not only in the in-
 New Jersey MetroStars, San Jose Clash,                                                   - Toronto FC, Montreal Impact (now CF                      creasing number of clubs, but also in the
 Kansas City Wizards and the Tampa Bay                                                    Montréal) and the Vancouver Whitecaps                      significantly rising fees required to join
 Mutiny.                                                                                  - the return of the San Jose Earthquakes,                  the league. The USD 325 million-fee re-
                                                                                          the birth of the North-Western powe-                       portedly agreed by Charlotte FC is more
 The league, which first expanded in 1998                                                 rhouses Seattle Sounders and Portland                      than threefold the amount paid by Real
 with the addition of new teams in Chica-                                                 Timbers, and the expansion on the East                     Salt Lake fifteen years earlier. In the last
 go and Miami, would see little but signi-                                                Coast with new franchises in Philadel-                     five years, MLS collected a total of USD
 ficant changes in size throughout its first                                              phia, New York and Orlando.                                1.15 billion in expansion fees with an
 decade. Reduced to ten clubs between                                                                                                                average of USD 187 million per team.
 2002 and 2004 after investors decided                                                    Currently in its third decade, MLS has                     In a comparable round of expansions
 to fold the two Florida-based franchises,                                                reached new heights with the debut of                      between 2004 and 2010, the league to-
 it would eventually return to a 12-team                                                  six new clubs in just five years (Atlanta                  taled USD 232 million (factoring inflation)
 structure with the inclusion of the Real                                                 United, Minnesota United, FC Cincin-                       from seven teams, at an average of USD
 Salt Lake and the Chivas USA - result of a                                               nati, Inter Miami, Los Angeles FC and                      33 million per club.

                                                                                                                                                                                        projection
 Evolution in the number MLS clubs (1996-2023)
                                                                                                                                                                                                30
                                                                                                                                                                                   27   28
                                                                                                                                                                            26
                                                                                                                                                                  23   24
                                                                                                                                                           22
                                                                                                                            19       19   19    20   20
                                                                                                                     18
                                                                                                          15   16
                                                                                               13    14
                                            12    12   12    12                      12   12
  10                                  10                            10   10   10

  96                                  97    98    99   00    01     02   03   04     05   06   07    08   09   10    11     12       13   14    15   16    17     18   19   20     21   22      23
 The analyses included in this report consider Sacramento Republic FC as MLS's 30th team

 Evolution of MLS entry/expansion fees                                                                                                                                                    325

                                                                                                                                                                                 200
 Entry/expansion fee (USD million)

                                                                                                                                                          150

                                                                                                                                          100
                                                                                                                     70
                                                                                     30         35        40
                                                             10          20
                                             5

                                           1-10             12-13        14     15-16          17-18      19        20-21                 23              24-27              28-29         30

                                     Progressive number of club joining the league

  The chart only takes into account the 'linear' evolution of MLS entry fees. As such, it does not consider those cases that may be considered as exceptional in
  this regard (e.g. Inter Miami's USD 25 million fee due to a previous agreement between David Beckham and the league)

                                                                                                                                 6
7

MLS's 30 clubs (as of April 2021)

         VAN

         SEA

   POR

                                                                                                                      MON

                                                                                                                                    NER

                                                                                                      TOR
                                                                   MIN

    SAC
                                                                                                                          NYC NYR
                                                                                CHI
                                    RSL                                                                             PHI
                                                                                                CLB
                                                                                         CIN                  DCU
                                          COL
   SJO                                                              SKC   STL

                                                                                 NAS
         LAF LAG                                                                                      CHA

                                                                                               ATL
                                                             DAL

                                                       AUS
                                                                HOU
                                                                                                        ORL

                                                                                                              MIA

WESTERN CONFERENCE                        EASTERN CONFERENCE                          FUTURE CLUBS
AUS - AUSTIN FC                           ATL - ATLANTA UNITED FC                     CHA - CHARLOTTE FC

COL - COLORADO RAPIDS                     CHI - CHICAGO FIRE FC                       SAC - SACRAMENTO REPUBLIC FC

DAL - FC DALLAS                           CIN - FC CINCINNATI                         STL - ST.LOUIS CITY SC

HOU - HOUSTON DYNAMO FC                   CLB - COLUMBUS CREW SC

LAF - LOS ANGELES FC                      DCU - DC UNITED

LAG - LOS ANGELES GALAXY                  MIA - INTER MIAMI CF

MIN - MINNESOTA UNITED FC                 MON - CF MONTREAL

POR - PORTLAND TIMBERS                    NAS - NASHVILLE SC

RSL - REAL SALT LAKE                      NEW - NEW ENGLAND REVOLUTION

SJO - SAN JOSE EARTHQUAKES                NYC - NEW YORK CITY FC

SEA - SEATTLE SOUNDERS FC                 NYR - NEW YORK RED BULLS

SKC - SPORTING KANSAS CITY                ORL - ORLANDO CITY SC

VAN -VANCOUVER WHITECAPS FC               PHI - PHILADELPHIA UNION

                                          TOR - TORONTO FC

                                                         7
Governance structures at national association level

MLS'S OWNERSHIP LANDSCAPE
The ownership landscape of the           majority of MLS owners are from          Today is vastly different from the si-
MLS has drastically changed since        North America, there are a few ins-      tuation of the NASL forty years ago
the league began in 1996. In its ear-    tances – notably in the case of the      whose development was stifled, in
ly years, the league had to rely on a    two New York franchises – where the      part, by the explicit ban on cross-
small group of investors who shared      league has been able to attract im-      sport investment in place in the NFL
the ambition of seeing soccer break      portant international investors.         at the time. With more than half of
through a sports market dominated                                                 clubs having a direct link to at least
by the other four major professio-       Quite a few teams have maintained        another sports property across US
nal leagues in the country - NFL,        the same investor-operator since         major professional leagues, MLS in-
MLB, NBA and NHL. Certain inves-         their debut in the league, with the      vestors are diversely invested across
tors committed to operate multiple       New England Revolution being the         the sporting industry domestically.
teams. The ten original charter clubs    sole founding club to have never         Moreover, like across the global soc-
belonged to six ownership groups,        changed owner. Whilst a significant      cer world, they increasingly seek out
with three teams owned jointly by        number of new investors are joining      cross-industry synergies. Nearly half
the MLS itself. Around 2001, the         the league as a direct consequence       of MLS clubs have at least one in-
league was down to just three core       of the league’s expansion, there has     vestor in common with an European
investors – Philip Anschutz, Lamar       been a limited number of club takeo-     club and 10% with a South American
Hunt and Robert Kraft. At one point,     vers in recent years. Currently two      one. As such, MLS appears to be
the Anschutz Entertainment Group         MLS teams - Real Salt Lake and Sa-       well-placed for all sorts of horizontal
(AEG) temporarily owned six teams        cramento Republic - are looking to       integration. Interestingly, there are
at the same time.                        attract new majority investors. Ove-     instances where investors in different
                                         rall, long-term investments seem to      MLS clubs joined forces for a similar
Fast forward to 2021 and the situa-      be a common trend across the MLS,        ventures overseas. The takeover of
tion could not be more different.        as twelve clubs have had the same        English side Swansea City in - led
The current MLS ownership group          investor-operator for ten or more        by DC United’s Jason Levien and
includes a vast and diverse set of in-   years.                                   Steve Kaplan – also included inves-
dividuals and partnerships including                                              tors currently involved in Orlando
some of the country’s most success-      What stands out in the current           City, Houston Dynamo and Seattle
ful businessmen and entrepreneurs        ownership profile is the cross-sport     Sounders.
as well as sports and Hollywood stars    and international links that MLS
amongst others. Whilst in the vast       owners bring to the league portfolio.

Number and percentage of MLS clubs having a direct link at ownership level with another major professional sports
club/franchise

         47%

                               27%               23%
                                                                   20%
          14                                                                      13%             13%
                                  8                                                                             10%
                                                   7                6
                                                                                    4               4             3
          CL N

                                                                                                              UB AN
            UB
       ER PEA

                                    E

                                                     E

                                                                      E

                                                                                        E

                                                                                                      E
                                                                                                 CH L
                                  A

                                                                  CH L

                                                                                       B
                                                   L
                                 IS

                                                  IS

                                                                    IS

                                                                                      IS

                                                                                                   IS
                                                                                               AN WS

                                                                                                            CL IC
                                                                AN H
                                             AN NF

                                                                                 AN L
                            AN B
                              CH

                                               CH

                                                                                   CH
                                                                               FR M

                                                                                                               R
                                                              FR N
     CC RO

                          FR N

                                                                                             FR N

                                                                                                          ER E
                                                                                                       CC AM
   SO EU

                                            FR

                                                                                                     SO TH
                                                                                                        U
                                                                                                     SO

                                                                           8
9

 Timeline of current MLS clubs (1996-2024)

                                       96                00                 04                   08             12             16               20                   24

     COLORADO RAPIDS

     COLUMBUS CREW

     DC UNITED

     FC DALLAS

     SPORTING KANSAS CITY

     LOS ANGELES GALAXY

     NEW ENGLAND REVOLUTION

     NEW YORK RED BULLS

     SAN JOSE EARTHQUAKES

     CHICAGO FIRE FC

     REAL SALT LAKE

     HOUSTON DYNAMO FC

     TORONTO FC

     SEATTLE SOUNDERS FC

     PHILADELPHIA UNION

     VANCOUVER WHITECAPS FC

     PORTLAND TIMBERS

     CF MONTREAL

     ORLANDO CITY SC

     NEW YORK CITY FC

     MINNESOTA UNITED

     ATLANTA UNITED FC

     LOS ANGELES FC

     FC CINCINNATI

     INTER MIAMI CF

     NASHVILLE SC

     AUSTIN FC

     CHARLOTTE FC

     ST.LOUIS CITY SC

     SACRAMENTO REPUBLIC FC

Ranking of MLS clubs by current ownership continuity
Dark blue bars refer to the longevity, calculated from the year in which the club was officially awarded an MLS slot. When there is no 'dark blue' section, longe-
vity and current ownership continuity coincide. In other words, the club has never been subject to a majority takeover.

       27   26   26     27   26   27                                                                                 27        27
                                                                                                                                          24

                                                              16                                  17                                                      17
                                                                                                       14
26
       23
            18   18
                        15   15   14   13   12    12   11     10   8    8        7       7   6    6    6
                                                                                                            4    3   3    3                          2
                                                                                                                               2     2    2     2

NER LAG COL DAL NYR SKC SJO PHI VAN POR MON TOR ORL NYC ATL LAF MIN HOU SEA NAS CIN DCU MIA CLB STL CHI AUS CHA RSL SAC

                                                                                     9
Governance structures at national association level

MLS STADIA AND ATTENDANCES
The evolution of stadia across the         Major League Soccer. Charlotte FC                 of city downtowns. Out of the nine
MLS is one of the most tangible evi-       is the first expansion team since New             league venues located within two
dences of the increasing attention         York City FC joined MLS in 2015 not               miles from the city center, four are
towards soccer by investors and fans       to include the construction of a new              soccer-specific stadiums that ope-
in North America. In the league’s          stadium in their bid.                             ned – or will open – after 2017.
early years the vast majority of clubs
shared their home venue with colle-        New stadia opened on almost every                 Although league-wide average at-
ge sports teams or professional            season from 2006 to 2012 (9 in to-                tendances showed a contraction for
American football teams. In either         tal), often more than one in the same             the last two seasons played in front
case, this meant they were playing in      year. A new and more significant                  of fans after more than a decade of
facilities designed for other purpo-       phase of stadium building kicked off              continuous growth, there are reason
ses and not adequate to soccer and         from 2017 and is ongoing. Currently,              for optimism. Events such as the
the crowds the game was able to ge-        there are a total of five stadia under            inauguration of the new Columbus
nerate. The Columbus Crew was the          construction, with three of them – in             Crew stadium, the Chicago Fire’s re-
first MLS club to build a soccer-spe-      Columbus, Austin and Cincinnati –                 location to Soldier Field, as well as a
cific stadium in 1998, followed by         expected to open doors in 2021. All               new venue in Austin – a city that has
those inaugurated by the LA Galaxy         of the MLS venues built after 2010                no other major professional sports
in 2003 and FC Dallas in 2005.             are soccer-specific and with a capa-              team – will likely be contributing
                                           city below 30,000, the only excep-                factors to an increase in MLS atten-
Since then, the construction of soc-       tion being the 71,000-seat Merce-                 dances once all fans will be allowed
cer-specific stadiums has been inex-       des-Benz stadium – a venue that                   back in the stands.
tricably linked with MLS’s expansion       Atlanta United shares with the NFL’s
phase, becoming a fundamental part         Atlanta Falcons. As MLS aims to be-
of the league’s growth strategy and        come more urban and accessible to
essentially a requirement for any          fans, the majority of new stadiums
new investor interested in joining         are being built in close proximity

MLS stadia: distance from downtown

                                                     MIA                         NER

                                  SKC                      MIN                 LAF             NYR

                                                                    NYC
                                         COL                                             MON
                                                      NAS                       SJO

                        LAG                                                                              PHI
                                               DCU                                     TOR
                                                                 ATL CHI CIN
                                AUS                                                             POR

                                                             CLB HOU ORL

                      DAL                                                                                  RSL
                                                             SEA STL VAN
11

Timeline of new stadia construction by total capacity (2005-2023)

                                                                                                                                                               ATL
                                                                                                         SOCCER-SPECIFIC
                                                                                                         NON SOCCER-SPECIFIC
   75k

                                                                   NYC
   50k

                                                                                                                                                                                                                      NAS
                              CHI

                                                                                                                                                         ORL

                                                                                                                                                                                                           CIN
                                                                              NYR

                                                                                                  HOU

                                                                                                                                                                       LAF

                                                                                                                                                                                                                                   STL
                                          TOR

                                                                                                                                                                                                        AUS
                                                                                                                                                                      DCU
                 DAL

                                                                                                                                                                                                        CLB
                                                                                                                                                                                    MIN
                                                     RSL

                                                                                     SKC
                                                                            PHI

                                                                                                                                   SJO
                                         COL

                                                                                                                                                                                                 MIA
                                                   MON
   25k

             05               06         07            08          09        10      11           12           13     14           15           16        17           18           19           20       21          22           23

  The stadiums of Toronto FC and CF Montréal have been considerably expanded since they first opened in 2007 and 2008 respectively. Inter Miami's stadium is an interim
  venue that will serve as the club's home until completion of the proposed new Freedom Park stadium.

Ranking of MLS clubs by average attendance - season 2019
          52.5

                       40.2

                               27.3

                                         25.2

                                                  25.0

                                                            23.2

                                                                     22.8

                                                                             22.2

                                                                                    21.1

                                                                                           19.7

                                                                                                        19.5

                                                                                                               18.8

                                                                                                                      18.6

                                                                                                                               18.1

                                                                                                                                         17.8

                                                                                                                                                 17.7

                                                                                                                                                          17.1

                                                                                                                                                                     16.7

                                                                                                                                                                             16.2

                                                                                                                                                                                          15.7

                                                                                                                                                                                                 14.9

                                                                                                                                                                                                         14.8

                                                                                                                                                                                                                  14.3

                                                                                                                                                                                                                            12.3
          ATL      SEA        CIN POR TOR LAG ORL LAF NYC MIN VAN SJO SKC                                                     RSL        NYR DCU PHI                 NER MON HOU CLB DAL COL CHI

Evolution of MLS average attendances (values in thousands, 2005-2019)

                                                                                                                                                                               2016              2017      2018
                                                                                                                                                                     2015                                                2019
                                                                                                                                                                               21.7              22.1      21.9
                                                                                                                                                                     21.6                                                21.3
                                                                                                                         2012                        2014
                                                                                                                                         2013
                                                                                                               2011                                  19.1
                                                                                                                         18.8            18.6
                                                            2007         2008                 2010             17.9
                                                                                    2009
                               2005         2006            16.8         16.5                 16.7
                                                                                    16.0
                               15.1             15.5

 # OF
                                    12           12          13             14       15            16           18           19           19            19            20            20            22            23          24
 TEAMS
 CUMULATIVE
                                2.9              3.0         3.3            3.5      3.6          4.0           5.5          6.1          6.0           6.2           7.3           7.4           8.3           8.5         8.7
 ATTENDANCE (mil)

                                                                                                                11
Governance structures at national association level

PLAYER RECRUITMENT IN MLS

Player recruitment is a key pillar in de-     context of the global transfer market.     were recruited from South America
termining the success of a soccer club,       This new concept – supported also by       and at a much younger average age
and ultimately a league. For years, MLS       Commissioner Don Garber when he            – 23.4 years. In comparison, only 41
was broadly associated with a strategy        stated that MLS should aim to become       players joined from a club belonging
of signing soccer stars at the end of         a ‘selling league’ – would likely lead     to the CONCACAF region, at 26.3
their careers, in order to raise its inter-   clubs to strengthen their academies        years of age on average. At individual
national profile and appeal. Whilst si-       and scouting activities – with obvious     country level, Argentinian clubs are
gnings such as that of David Beckham          beneficial consequences in terms of        those that transferred the most players
for the LA Galaxy in 2007 undoubtedly         the overall development of the do-         directly to MLS, ahead of Mexican, En-
represented a turning point for the           mestic soccer ecosystem – but also to      glish and Spanish teams.
league’s popularity, they also contri-        potentially add transfer fees as a com-
buted to a less positive reputation           ponent of their business model.            The growing attention on young ta-
amongst external observers about the                                                     lents from South America – typically a
effective level of the league.                In terms of actual numbers, nearly         key element of the recruitment strate-
                                              half of the players that participated in   gies of European clubs – has already
Today, MLS appears to be on a diffe-          the 2020 MLS season were recruited         proved successful for some MLS clubs
rent path, more focused on youth de-          from abroad, whereas 14% were club-        from a financial perspective. In 2019,
velopment and the signing of young            trained, intended as those who spent       Atlanta United received a record USD
promising talents. Such new approach          at least two consecutive years in the      27-million transfer fee as a result of
may indeed have many positives, as it         club’s academy before eventually           Miguel Almirón’s move to Newcastle
may contribute to a more sustainable          joining the first team. Around 60%         United (ENG). The player had joined
increase of the competitive level of the      of ‘international’ players joined Major    only two years earlier from Lanús (ARG)
league, its ability to generate more in-      League Soccer coming from an Euro-         in exchange for a fee of around USD
terest at international level, and esta-      pean club. On average, they did so at      7.5 million.
blish MLS as an important player in the       26.7 years of age. A total of 84 players

MLS players by type of recruitment
(the analysis includes every player with at least one cap during the 2020 MLS season)

CLUB-                                            RECRUITED FROM                               RECRUITED FROM
TRAINED                                          NORTH AMERICA                                ABROAD

14%           (97 PLAYERS)                       40%         (270 PLAYERS)                    46%         (315 PLAYERS)

                                                                               12
13

  Average age of players at the time of recruitment, by location of players' prior club
  (the analysis includes all players with at least one cap in the 2020 MLS season. Club-trained players are not taken into account in this analysis)

                                                                                UEFA       26.7
         USA/CANADA                  25.7
         OTHER CONCACAF              26.3                                                                                  AFC      27.4

                                                                                CAF        22.7

                                     CONMEBOL           23.4

  Ranking of soccer regions by number of players transferred directly to the MLS
  (the analysis includes all players with at least one cap in the 2020 MLS season. Players recruited from the US or Canada have not been taken into account)

                                            180

                                           OTHER
                                            96

                                           BIG-5
                                                                           84
                                             84                                                    41                  7                3

                                           UEFA                      CONMEBOL                   CONCACAF               CAF           AFC

Ranking of countries by number of players transferred directly to the MLS
(the analysis includes all players with at least one cap in the 2020 MLS season. Players recruited in the US or Canada are not taken into account in this analysis)

    30
             27
                     23

                              18
                                      17
                                               14
                                                       13       13      13       13
                                                                                           10     9        9       8
                                                                                                                             7      7
                                                                                                                                             6         6
                                                                                                                                                             5         5

   ARG     MEX      ENG      ESP     GER     COL      BRA     FRA       ITA     NED     POR      VEN     CRC     SCO       SWE    DEN       BEL    URU     CHI        ECU

                                                                                      13
Governance structures at national association level

 MLS AND PLAYER SALARIES
The analysis of player salaries, based      USD 860 thousand, result of more than      Henry, the two clubs appear to have
on the numbers published every year         a threefold growth.                        now chosen a different approach, one
by the MLS Players’ Association (MLS-                                                  that led them to be ranked respectively
PA), offers interesting insights into the   In 2019, overall team salary budgets       16th and 21st in terms of salaries in
financial evolution of the league over      varied in a ratio of 3:1 with two Cana-    2019. Only in four occasions across the
the years. In general terms, the ave-       dian clubs – Toronto FC and Vancouver      last ten years, a club amongst the top
rage total wage bill of an MLS club         Whitecaps – representing the two ends      three biggest spenders on salaries en-
– USD 12 million in 2019 – has nearly       of the spectrum. When removing the         ded up winning the league. The Seatt-
tripled over the last ten years and near-   top three from this specific list, howe-   le Sounders - MLS Champions in 2019
ly doubled when only the last six sea-      ver, the ratio between the biggest and     - ranked on that season.
sons are considered.                        the lowest spenders is only 1.5:1. Two
                                            clubs clearly stand out when looking       The evolution of MLS salaries is directly
The salary distribution reveals a consi-    at their total wage bill over the years.   linked with the Collective Bargaining
derable gap between the highest ear-        Toronto FC has topped the ranking in       Agreement (CBA) periodically nego-
ners and the vast majority of players.      each of the last six seasons for which     tiated between the league and the
In 2019, almost two thirds of the           data is available, managing to achieve     MLSPA. As covid-19 forced the two
players that competed in MLS made           its first MLS Cup in 2017. The LA Ga-      parties to revise the terms of the deal
less than USD 300 thousand per year,        laxy have been in the top three across     previously reached for the 2020-2024
whilst 58 pocketed more than USD 1          the whole 2010-2019 decade with the        period, a new agreement covering
million – nine of which earned at least     only exception of one season. epresen-     all seasons up to 2027 was sealed in
USD 3 million. Even in this regard, the     ting one of the biggest markets in the     February 2021. From a salary budget
MLS evolved considerably since 2007,        league, the two New York franchises        perspective - whilst no cuts were intro-
the first year of data published by the     have also been amongst the biggest         duced - the increase originally meant
MLSPA. At the time, 90% of players          spenders at different points in time.      to come into effect in 2021 has been
made less than USD 187 thousand per         Once featuring star players such as        now postponed to 2023.
year; the same threshold is today set at    Frank Lampard, David Villa and Thierry

MLS players by salary range - season 2019

LESS THAN USD                                 BETWEEN USD 300K                             MORE THAN ONE
300K                                          AND USD 1 MILLION                            MILLION USD

63%          (451 PLAYERS)                    29%          (205 PLAYERS)                   8%        (58 PLAYERS)
                                            LAG LAG LAG LAG

                                                                             14
15

Ranking of MLS clubs by total wage bill (season 2019, values in USD million)
        24.3

                19.6

                       17.1

                              13.8

                                      13.7

                                             13.1

                                                         13.0

                                                                         12.6
                                                                 12.6

                                                                                 12.1

                                                                                        11.1

                                                                                                 10.6

                                                                                                           10.6

                                                                                                                    10.6

                                                                                                                             10.6

                                                                                                                                    10.4

                                                                                                                                             10.2

                                                                                                                                                    9.9

                                                                                                                                                            9.6

                                                                                                                                                                  8.8

                                                                                                                                                                                  8.7
                                                                                                                                                                          8.7

                                                                                                                                                                                         8.6

                                                                                                                                                                                                 8.2
       TOR     LAG     CHI    LAF     SEA MON         ATL       ORL     POR     SKC     RSL     CLB     NER        SJO     MIN      NYC     DCU     PHI     CIN   DAL    NYR      HOU COL       VAN

Evolution of the average total wage bill of an MLS club (2007-2019 values in USD million)

                                                                                                                                                                                               2019
                                                                                                                                                                                  2018         12.0
                                                                                                                                                                                  11.1
                                                                                                                                                          2016     2017
                                                                                                                                           2015
                                                                                                                                                          9.0      9.1
                                                                                                                                            8.3
                                                                                                                             2014
                                                                                               2012          2013            6.4
                                                                  2010          2011
                                                                                               5.2            5.0
                       2007          2008       2009              4.4           4.7
                       3.2           3.4            3.4

       # OF
                        13           14             15             16            18            19             19              19            20            20        22            23            24
       TEAMS
       CUMUL.
                       42.1          47.0       51.7              70.9          85.0           99.0          94.8          121.4           167.0      179.9       200.3         255.9          288.4
       SALARIES

Ranking of the top 3 MLS clubs with the highest wage bill (2010-2019)

                       10              11                   12                  13               14                   15                   16               17             18                  19

       1ST
                       NYR             LAG                  NYR                 NYR              TOR                   TOR                 TOR              TOR            TOR                 TOR

       2ND
                       LAG             NYR                  LAG                 SEA              LAG                   LAG                 NYC              NYC            LAG                 LAG

       3RD
                       CHI             TOR                  TOR                 LAG              SEA                  NYC                  LAG              CHI             CHI                CHI

               MLS Cup winner

                                                                                                      15
Governance structures at national association level

MLS PLAYING STATISTICS

The analysis of playing statistics         England Revolution and Nashville           domestic ones – from 27.1 years to
offers additional point of views to        SC. In terms of age ranges, the            26.4. This may represent an indica-
understand the trends across Major         most notable trend sees a signifi-         tor of the increasing investments of
League Soccer from a more spor-            cantly increasing share of minutes         MLS in youth development and club
ting perspective. In terms of na-          granted to young domestic players.         academies. At individual club level,
tionality of players, more than half       At league-wide level, playing time is      with an average age of 28.4 years,
of the total minutes played across         nearly equally distributed between         the most experienced squads in
the 2020 MLS regular season have           players below 28 years old (56% of         2020 were fielded by Sporting Kan-
been granted to foreign ones. More         total minutes on aggregate) and            sas City, Seattle Sounders, Portland
specifically, this value appears to        those above this age (44%).                Timbers and Toronto FC. Los Ange-
have stabilized at around 58% in re-                                                  les FC and New York Red Bulls were
cent years, a value 23% higher than        Data on the global average age             instead the youngest. In the case of
that registered for the 2015 season.       across the league confirms that            the franchise owned by the Austrian
With an impressive 80% of minutes          the MLS has been recently getting          energy drink company, the average
played by non-domestic players,            ‘younger’. Between 2019 and 2020           squad age of 25.4 years appears to
Houston Dynamo leads the ranking           this value experienced the most            reaffirm an approach towards youth
at individual club level, ahead of Los     significant decrease in the last six       development similar to that adop-
Angeles FC and New York City FC.           years, going from 27.6 years to 27.2.      ted across the other Red Bull-owned
On the other end of the spectrum           More specifically, this is the result of   soccer teams in the world.
- with more than two-thirds of total       a slight reduction in the average age
minutes played by players from the         of foreign players and a much more
US or Canada - are instead the New         significant decrease in the case of

League-wide average ages by players' origin
(calculations are based on the total minutes played throughout each season)

                                                             FOREIGN PLAYERS
                                                             TOTAL SQUAD
                                                             USA/CAN

                28,6
  28,2                        28,1
                 28                                       27,9
                              27,7          27,6                        27,7
  27,6                                                    27,6
                27,4          27,3          27,4
                                            27,3
  27,1                                                    27,1          27,2

                                                                        26,4

  15            16            17            18            19            20
  15            16            17            18            19            20
Minutes (as % of the league-wide total) played by foreign players (2015-2020)

                                57,2      58,5       58
                       54
  47,6      50,4

  15        16         17       18        19        20
  15        16         17       18        19        20

                                                                                 16
17

Ranking of MLS clubs by % of minutes played by foreign players - Regular Season 2020
 80.1

         75.5

                  75.4

                           72.7

                                     69.5

                                             69.4

                                                     69.2

                                                                  68.4

                                                                          67.0

                                                                                  63.9

                                                                                           62.2

                                                                                                              59.7
                                                                                                    59.8

                                                                                                                      59.1

                                                                                                                                 55.8

                                                                                                                                              55.2

                                                                                                                                                       53.4

                                                                                                                                                               52.7

                                                                                                                                                                      51.1

                                                                                                                                                                                49.6

                                                                                                                                                                                        48.9

                                                                                                                                                                                                47.1

                                                                                                                                                                                                        41.1

                                                                                                                                                                                                                  35.7

                                                                                                                                                                                                                             33.0

                                                                                                                                                                                                                                    31.7
HOU      LAF     NYC MON             CHI     SEA     CLB      ORL         POR     DCU      MIN      PHI       SJO     CIN        VAN      MIA          RSL     ATL    SKC      COL      NYR     DAL     LAG      TOR        NAS     NER

Ranking of MLS clubs by average squad age - Regular Season 2020
(calculations based on the actual minutes played by each individual player)
  28.4

          28.4

                  28.4

                              28.4

                                      28.1

                                             28.0

                                                      27.9

                                                                   27.8

                                                                           27.7

                                                                                   27.6

                                                                                           27.5

                                                                                                       27.3

                                                                                                                       27.3
                                                                                                               27.3

                                                                                                                                  27.1

                                                                                                                                               27.1

                                                                                                                                                               27.0
                                                                                                                                                        27.0

                                                                                                                                                                       26.6

                                                                                                                                                                                 26.5

                                                                                                                                                                                                 26.2
                                                                                                                                                                                         26.2

                                                                                                                                                                                                         26.1

                                                                                                                                                                                                                     25.9

                                                                                                                                                                                                                             25.4

                                                                                                                                                                                                                                     25.2
 SKC     SEA      POR TOR HOU MIN                    CIN          CLB     SJO     LAG      RSL      DAL       NAS     MIA        NYC NER               CHI     DCU ORL MON PHI                  COL     ATL       VAN        NYR    LAF

Minutes played (as % of the total for each category) by age range (2015-2020)

                         FOREIGN                                                                              USA/CAN                                                                          TOTAL SQUAD

                         8,8         10,2     11,3          9,3                      8,3          9,8         11,9        11,1          11,9          10,7                    11,3      11,6     10,2          10,6         11,6     9,9
 14,6      13,3

                         41,8                           39,8                        33,7          32          27,8        28,9          29,6          27
                                     32,5     39,5                                                                                                                            35,6      37       35,3           31          35,4    34,4
 37,6       42

                                                                                                              44,3                                    36,9
                                     45,7                                                         46,6                    43,6          37,1
                                                        40,4                        45,1                                                                                      41,9               40,8          44,8                 38,9
 38,3                    37,8                 38,2                                                                                                                                      40,5                                37,8
           34,6

                                                                                                                                        21,3          25,3
  9,4      10,1          11,6        11,6      11       10,6                        12,9          11,7        16          16,3                                                11,3      10,9     13,6          13,6         15,2    16,8

  15        16           17          18        19            20                      15           16          17          18             19           20                      15        16         17           18          19       20

                                                                                  U23                      23-27               28-32                       >33

                                                                                                                     17
Governance structures at national association level

 ATLANTA UNITED FC

 MLS ADMISSION                       MLS DEBUT                         ENTRY FEE
       2014                             2017                         USD 70m

                                                                                                                    CLUB
                      OWNERSHIP INFO & OWNERS' OTHER                                                                HONORS
                      INVESTMENTS IN SPORTS TEAMS

 The club is owned by Arthur M. Blank, the co-founder of Home Depot - the world's
                                                                                                          MLS CUP
 largest home improvement retailer. He is also the owner and chairman of NFL's                            2018
 Atlanta Falcons and through the company StadCo operates the Mercedes-Benz
 Stadium, the USD 1.6 billion venue inaugurated in 2017 and home to the two fran-                         US OPEN CUP
 chises. Blank's investments in sports, which also includes the acquisition of a mino-                    2019
 rity stake in Aberdeen (SCO) in 2019, fall under the AMB Sports and Entertainment
 umbrella - a company owned by the AMB Group.                                                             CONFERENCE
                                                                                                          CHAMPIONS
                                                                                                          2018
           ABERDEEN (SCO)

           ATLANTA FALCONS

                             STADIUM INFO & EVOLUTION OF AVERAGE ATTENDANCES

                                                                                                                               53   52.5
  NAME                            MERCEDES-BENZ STADIUM
                                                                                                                        48.2

  LOCATION                            ATLANTA, GEORGIA

  INAUGURATION                                  2017

  CAPACITY                                    42'500*

  SOCCER-SPECIFIC                                NO

                                                                                    05
                                                                                     0 06
                                                                                        0 07
                                                                                           0 08
                                                                                              0 09
                                                                                                 0 10
                                                                                                    0 11
                                                                                                       0 12
                                                                                                          0 13
                                                                                                             0 14
                                                                                                                0 15
                                                                                                                   0 16
                                                                                                                      0 17 18 19
 * The stadium may be expanded to a capacity of over 70,000 people. In Au-
 gust 2019, Atlanta United broke MLS's record for a single-match attendance         Values in thousands
 when it welcomed 72,548 fans for the regular season match against the LA
 Galaxy.

                                                                                   18
19

PLAYER RECRUITMENT STRATEGY - 2020 SQUAD

Club-trained players                 Players recruited from North America                       Players recruited from abroad

Location of players' prior club (when not recruited from North America) and average age at the time of recruitment (by region of players' prior club)

                                                                   UEFA      25.5

         USA/CANADA                 24.3
         OTHER CONCACAF             28.4

          Two players
          One player

                                                          CONMEBOL         23.6

PLAYER SALARIES

                                                                                                                                                       13
                                                                                                                                       11.6
                                                                                                                            8.9

                                                                                                                             17            18          19

PLAYER STATISTICS

Minutes (as % of the total) played by foreign players                   Average ages by players' origin
(2017-2020)                                                             (calculations based on the total minutes played)
                                                                                                                                    31,4

                                                                                                                           30,6

                                                                                                                                                29,4

                    65,8                                                                                                            27,5
                              60,5                                                                                         27,4                 27,3
                                        56,4                                                                                                                27,1
                                                 52,7
                                                                            TOTAL SQUAD
                                                                                                                                                            26,1
                                                                            FOREIGN                                        25,7                 25,6
                                                                                                                                                            25,2
                                                                            USA/CAN                                                 24,9

 15        16           17     18        19       20                                                   15         16       17       18          19          20

                                                                                                       15         16       17       18          19          20
                                                                             19
Governance structures at national association level

 CHICAGO FIRE FC

MLS ADMISSION                         MLS DEBUT                         ENTRY FEE
       1997                               1998                                 N/A

                                                                                                                                                        CLUB
                        OWNERSHIP INFO & OWNERS' OTHER                                                                                                  HONORS
                        INVESTMENTS IN SPORTS TEAMS

                                                                                                                                     MLS CUP
 The club is owned by Chicago-based Joe Mansueto. He is the founder of Mor-                                                          1998
 ningstar, a financial services firm that manages or advises on more than USD 200
 billion in assets. Mansueto first bought a 49% stake in the Chicago Fire in 2018,                                                   SUPPORTERS'
 eventually purchasing the remaining 51% a year later. The club’s valuation reporte-                                                 SHIELD
 dly increased from USD 240 million to USD 400 million in between the two transac-                                                   2003
 tions. One of Mansueto's first moves at the helm of the club was to move the team
 back to the historic Soldier Field after 13 years at the SeatGeek stadium (originally                                               US OPEN CUP
 Toyota Park) in Bridgeview, Illinois.                                                                                               1998, 2000, 2003,2006

                                                                                                                                     CONFERENCE
 ___                                                                                                                                 CHAMPIONS
                                                                                                                                     1998, 2003

                               STADIUM INFO & EVOLUTION OF AVERAGE ATTENDANCES

                                                                                     Move from Soldier
                                                                                     Field to SeatGeek
 NAME                                     SOLDIER FIELD                                   Stadium

 LOCATION                              CHICAGO, ILLINOIS

 INAUGURATION                                    1924*
                                                                                        17.2          16.5    17                  16.4                         17.4
                                                                                                                   14.7 15.8 14.3      15.2 16.1   16   15.6          14.8
 CAPACITY                                       61'500                                         14.1
                                                                                                                                                                             12.3

 SOCCER-SPECIFIC                                  NO

                                                                                        05 06 07 08 09 10 11 12 13 14 15 16 17 18 19
* From 2020 the club has returned to its original home venue, Soldier Field,            Values in thousands
after 13 years at the SeatGeek Stadium (formerly Toyota Park). Soldier Field
underwent major renovations in 2002.

                                                                                         20
21

PLAYER RECRUITMENT STRATEGY - 2020 SQUAD

Club-trained players                             Players recruited from North America                 Players recruited from abroad

Location of players' prior club (when not recruited from North America) and average age at the time of recruitment (by region of players' prior club)

                                                                           UEFA    28.3

         USA/CANADA                    26.9
         OTHER CONCACAF                     -

          Two players
          One player

                                                                CONMEBOL          22.1

PLAYER SALARIES

                                                                                                                                                          17.1
                                                                                                                                          15.5
                                                                                                                                  13

                               5.1              5.6                                                       5.8
  4.7          4.8                                                                 5                                   4.3
                                                                     4.1                     3.8
                                                           3

   07          08              09               10         11        12           13         14           15           16         17          18          19

PLAYER STATISTICS

Minutes (as % of the total) played by foreign players                        Average ages per players' origin
(2015-2020)                                                                  (calculations based on the total minutes played)

                                                                                                                                                   29,8
                                                                                                                                29,3               29,2

                                                                                                            28,5
                                                                                                                                                   28,1
                                                                                                            27,9                27,9   27,8                      27,7
                                                 68,2    69,5                                               27,3       27,4
                                                                                                                                       27,1                       27
           59,4         60,7         58,6                                                                                                                        26,7
                                                                                                                       26,5
  47,8                                                                                                                                 26,2
                                                                                  TOTAL SQUAD                                   25,8

                                                                                  FOREIGN                              25,2

                                                                                  USA/CAN

   15       16          17           18           19      20                                                15         16       17     18          19            20
                                                                                                            15         16       17     18          19            20

                                                                                   21
Governance structures at national association level

FC CINCINNATI

 MLS ADMISSION                       MLS DEBUT                       ENTRY FEE
         2018                            2019                     USD 150m

                                                                                                                  CLUB
                       OWNERSHIP INFO & OWNERS' OTHER
                                                                                                                  HONORS
                       INVESTMENTS IN SPORTS TEAMS

 The club’s majority owner is Carl Lindner III, one of Cincinnati's wealthiest men and                  ___
 co-CEO of American Financial Group - a Fortune 500 company in the insurance
 business. He is the oldest son of Carl Lindner Jr. - a former owner of MLB’s Cin-
 cinnati Reds. Lindner is joined at the helm of the club by a diverse group of local
 investors. In November 2019, Silicon Valley veteran Meg Whitman also invested in
 a 20% stake in FC Cincinnati alongside her husband Griff Harsh. The former CEO
 of Hewlett Packard and Ebay reportedly paid USD 100 million for the acquisition,
 valuing the club at USD 500 million.

 ___

                              STADIUM INFO & EVOLUTION OF AVERAGE ATTENDANCES

 NAME                                WEST END STADIUM*

 LOCATION                             CINCINNATI, OHIO

                                                                                                                           27.3
 INAUGURATION                                   2021

 CAPACITY                                      26'000

 SOCCER-SPECIFIC                                 YES

                                                                                 05
                                                                                  0 06
                                                                                     0 07
                                                                                        0 08
                                                                                           0 09
                                                                                              0 10
                                                                                                 0 11
                                                                                                    0 12
                                                                                                       0 13
                                                                                                          0 14
                                                                                                             0 15
                                                                                                                0 16
                                                                                                                   0 17
                                                                                                                      0 18
                                                                                                                         0 19
* The stadium is expected to open doors on May 16th , 2021. The club is
temporarily playing its home games at the Nippert Stadium in Cincinnati.         Values in thousands

                                                                                  22
23

PLAYER RECRUITMENT STRATEGY - 2020 SQUAD

Club-trained players         Players recruited from North America                 Players recruited from abroad

Location of players' prior club (when not recruited from North America) and average age at the time of recruitment (by region of players' prior club)

                                                                    UEFA     26.6

         USA/CANADA                  25.5
         OTHER CONCACAF              22.9

          Two players
          One player

                                                         CONMEBOL          20.1

PLAYER SALARIES

                                                                                                                                                      9,6

                                                                                                                                                      19

PLAYER STATISTICS

Minutes (as % of the total) played by foreign players                   Average ages per players' origin
(2019-2020)                                                             (calculations based on the total minutes played)
                                                                                                                                                            29,9

                                                                                                                                               28,9

                                                                                                                                                            27,9
                                                                                                                                               27,6

                                        59,4     59,1                                                                                          25,7

                                                                            TOTAL SQUAD                                                                     24,9

                                                                            FOREIGN

                                                                            USA/CAN

                                                                                                       15         16       17        18        19           20
 15        16           17      18       19       20

                                                                             23
Governance structures at national association level

COLORADO RAPIDS

MLS ADMISSION              MLS DEBUT                  ENTRY FEE
      1995                    1996                    USD 5m

                                                                                                                                               CLUB
                 OWNERSHIP INFO & OWNERS' OTHER                                                                                                HONORS
                 INVESTMENTS IN SPORTS TEAMS

Stanley Kroenke is the club's owner since September 2003. Married to Walmart
                                                                                                                          MLS CUP
heiress Ann Walton Kroenke, he is the chairman and owner of The Kroenke Group,
                                                                                                                          2010
a private real estate investment and development company with properties located
in the United States and Canada. His estimated net worth is USD 8.2 billion. He
                                                                                                                          CONFERENCE
is also the owner of Kroenke Sports & Entertainment (KSE) a company that today
                                                                                                                          CHAMPIONS
owns several franchises across US professional leagues as well as Arsenal FC in the
                                                                                                                          1997, 2010
English Premier League.

         ARSENAL (ENG)                        DENVER NUGGETS

         LOS ANGELES RAMS                     COLORADO AVALANCHE

                      STADIUM INFO & EVOLUTION OF AVERAGE ATTENDANCES

                                                                   Move from Empower
                                                                  Field to Dick's Sporting
                                                                        Goods Park
 NAME                 DICK'S SPORTING GOODS PARK

 LOCATION             COMMERCE CITY, COLORADO

 INAUGURATION                      2007
                                                                                                                          15,4          15,7   16,3   15,3   15,3
                                                                                14,7                        14,8   15,2          15,1                               14,3
 CAPACITY                          18'061                         13,6                 13,7          13,3
                                                                         12,1                 12,3

 SOCCER-SPECIFIC                    YES
                                                                  05 06 07 08 09 10 11 12 13 14 15 16 17 18 19
                                                                  Values in thousands

                                                                  24
25

PLAYER RECRUITMENT STRATEGY - 2020 SQUAD

Club-trained players                      Players recruited from North America                                   Players recruited from abroad

Location of players' prior club (when not recruited from North America) and average age at the time of recruitment (by region of players' prior club)

                                                                          UEFA         27.5

    USA/CANADA                   25.8
    OTHER CONCACAF               31.0

          Two players
          One player

                                                               CONMEBOL      19.8

PLAYER SALARIES

                                                                                                                                              9,7
                                                                                                                     8,7         8                         8,6

                                                                                                        5,1
                                                         3,2        3,4          3,5          3,5
   2,3         2,5             2,4            2,7

   07            08            09             10         11         12           13           14         15           16        17            18           19

PLAYER STATISTICS

Minutes (as % of the total) played by foreign players                      Average ages per players' origin
(2015-2020)                                                                (calculations based on total minutes played)

                                                                                                                                       28,9

                                                                                                                     28,2
                                                                                                          27,9        28
                                                                                                          27,8       27,7     27,8
                                                                                                                                       27,6
                                                                                                                              27,4                  27,3
                                                                                                                               27                   26,9         26,9
                                                                                                                                       26,8
                                                                                                                                                    26,4
                                    64,5                                                                                                                         26,2
                                              56,2
  46,6                                                 49,6                                                                                                      25,4
            46          44,5                                                     TOTAL SQUAD

                                                                                 FOREIGN

                                                                                 USA/CAN

   15       16          17           18        19       20                                                15         16       17        18          19           20

                                                                                  25
Governance structures at national association level

COLUMBUS CREW SC

 MLS ADMISSION                        MLS DEBUT                         ENTRY FEE
         1994                             1996                          USD 5m

                                                                                                                                                     CLUB
                       OWNERSHIP INFO & OWNERS' OTHER                                                                                                HONORS
                       INVESTMENTS IN SPORTS TEAMS

Since December 2018 the club is controlled by a group including Dee and Jimmy
                                                                                                                                    MLS CUP
Haslam - already owners of NFL's Cleveland Browns - and local businessman Pete
                                                                                                                                    2008,2020
Edwards. The Haslam family owns 67% of USD 31 billion Pilot Flying J, a North
American chain of truck stops and convenience stores. Reportedly worth USD 150
                                                                                                                                    SUPPORTERS'
million, the takeover allowed the new owners keep to the MLS franchise in Colum-
                                                                                                                                    SHIELD
bus, following months of talks about a potential relocation to Austin, TX. The team
                                                                                                                                    2004, 2008, 2009
is expected to inaugurate in July 2021 its new 20,000-seat USD 314 million stadium.
                                                                                                                                    US OPEN CUP
                                                                                                                                    2002

            CLEVELAND BROWNS                                                                                                        CONFERENCE
                                                                                                                                    CHAMPIONS
                                                                                                                                    2008, 2015, 2020

                              STADIUM INFO & EVOLUTION OF AVERAGE ATTENDANCES

 NAME                                NEW CREW STADIUM*

 LOCATION                              COLUMBUS, OHIO

 INAUGURATION                                    2021

 CAPACITY                                       20'000                                                                                          17   17.1
                                                                                                15.2 14.6 14.4 14.6                 16.1 15.9               15.4
                                                                                                                             14.4                                         14.9
                                                                                    12.9 13.3                         12.2                                         12.4
 SOCCER-SPECIFIC                                  YES

* The stadium is expected to open doors on July 3rd , 2021. The club is tem-        05 06 07 08 09 10 11 12 13 14 15 16 17 18 19
porarily playing its home games at the MAPFRE Stadium in Columbus.
                                                                                    Values in thousands

                                                                                     26
27

PLAYER RECRUITMENT STRATEGY - 2020 SQUAD

Club-trained players                        Players recruited from North America                         Players recruited from abroad

Location of players' prior club (when not recruited from North America) and average age at the time of recruitment (by region of players' prior club)

                                                                        UEFA    28.6

         USA/CANADA                    26.7
         OTHER CONCACAF                24.1

                                                                               CAF       29.0

          Two players
          One player

                                                             CONMEBOL          20.9

PLAYER SALARIES

                                                                                                                                                       10.6
                                                                                                                                         7.7
                                                                                                                              6.7
                                                                                                       5.7          5.9
                                                       3.6        3.7          3.6        3.5
               2.4             2.9          2.8
  2.1

   07          08              09            10        11         12           13         14           15           16         17          18          19

PLAYER STATISTICS

Minutes (as % of the total) played by foreign players                     Average ages per players' origin
(2015-2020)                                                               (calculations based on the total minutes played)

                                                                                                                    28,5                        28,6
                                                                                                                                                              28,1
                                                                                                         27,9
                                                                                                         27,8       27,9                        27,9          27,8
                                                                                                         27,6                27,5
                                                                                                                    27,4
                                                                                                                                                              27,1
                                                                                                                                                26,9
                                                                                                                                    26,7
                                                                                                                                    26,6
                                                      69,2                                                                   26,5
                        61,6         60,7
  56,1                                        57,9
           52,2
                                                                               TOTAL SQUAD                                   25,1

                                                                               FOREIGN

                                                                               USA/CAN

   15       16          17           18       19       20                                                15         16       17     18          19            20

                                                                                27
Governance structures at national association level

FC DALLAS

 MLS ADMISSION             MLS DEBUT                  ENTRY FEE
      1995                    1996                    USD 5m

                                                                                                                                            CLUB
                 OWNERSHIP INFO & OWNERS' OTHER                                                                                             HONORS
                 INVESTMENTS IN SPORTS TEAMS

FC Dallas is owned by the Hunt family, one of the richest in the United States with
an estimated net worth of USD 15.5 billion. Lamar Hunt, son of oil tycoon H.L.                                           SUPPORTERS'
Hunt, was a pivotal figure in American sports history and played a crucial role in the                                   SHIELD
development of soccer in North America, being also one of the founding investors                                         2016
in the MLS. The US Open Cup - the oldest ongoing national soccer competition –
                                                                                                                         US OPEN CUP
is still today named after him. His sons Clark and Dan are currently chairman and
                                                                                                                         1997, 2016
president of FC Dallas respectively.
                                                                                                                         CONFERENCE
                                                                                                                         CHAMPIONS
         CHICAGO BULLS                                                                                                   2010

         KANSAS CITY CHIEFS

                      STADIUM INFO & EVOLUTION OF AVERAGE ATTENDANCES

 NAME                       TOYOTA STADIUM

 LOCATION                    FRISCO, TEXAS

 INAUGURATION                      2005
                                                                                                                                16,8   16
                                                                              15,1                                       15,4                         15,5 14,8
 CAPACITY                         20'500
                                                                         15
                                                                                        13                        14,1                      14,1 15,1
                                                                                             12,4          12,9
                                                                  11,2                              10,8

 SOCCER-SPECIFIC                   YES
                                                                  05 06 07 08 09 10 11 12 13 14 15 16 17 18 19
                                                                  Values in thousands

                                                                   28
29

PLAYER RECRUITMENT STRATEGY - 2020 SQUAD

Club-trained players                                    Players recruited from North America                     Players recruited from abroad

Location of players' prior club (when not recruited from North America) and average age at the time of recruitment (by region of players' prior club)

                                                                   UEFA      29.1

          USA/CANADA               24.4
          OTHER CONCACAF           32.0

          Two players
          One player

                                                           CONMEBOL       25.6

PLAYER SALARIES

                                                                                                                                             9,3          8,8
                                                                                                                                6,5
                                                                 5,3         4,8          4,6                       4,7
                                                                                                       4,1
    3,1           2,6        2,7         2,9         3,3

    07            08         09           10         11          12          13           14           15           16          17           18           19

PLAYER STATISTICS

Minutes (as % of the total) played by foreign players                   Average ages per players' origin
                                                                        (calculations based on the total minutes played)                                       29,7
(2015-2020)

                                                                                                                           27,9

                                                                                                                                                   27,2        27,3
                                                                                                       26,9                27         27
                                                                                                                  26,7
                        68                                                                                                            26,3
                              62,8
                                                                                                       25,9       25,9
  49,3     51,8                         51,3
                                                  47,1                      TOTAL SQUAD                           25,1                25,1
                                                                                                                                                   25,3        25,2
                                                                                                       24,9                25

                                                                            FOREIGN

                                                                            USA/CAN
                                                                                                                                                   23,2

   15       16          17     18         19       20                                                  15         16       17         18           19           20

                                                                             29
Governance structures at national association level

DC UNITED

 MLS ADMISSION             MLS DEBUT                  ENTRY FEE
       1994                   1996                    USD 5m

                                                                                                                                   CLUB
                 OWNERSHIP INFO & OWNERS' OTHER                                                                                    HONORS
                 INVESTMENTS IN SPORTS TEAMS

The club is owned by Jason Levien and Stephen Kaplan. An investor in real estate                                  MLS CUP
and sports and technology-focused businesses, Levien - who previously served as                                   1996, 1997, 1999, 2004
CEO of NBA's Memphis Grizzlies - was first named a majority owner of DC United
in 2012. Kaplan, the co-founder of Oaktree Capital Group - a global investment                                    SUPPORTERS'
management firm and previously co-chairman of the Memphis Grizzlies - joined                                      SHIELD
him at the helm of the club in 2018. Together, they also led the takeover of Swansea                              1997, 1999, 2006, 2007
City (ENG) in 2016.
                                                                                                                  US OPEN CUP
                                                                                                                  1996, 2008, 2013

         SWANSEA CITY (ENG)                                                                                       CONFERENCE
                                                                                                                  CHAMPIONS
                                                                                                                  1996, 1997, 1998,1999, 2004

                      STADIUM INFO & EVOLUTION OF AVERAGE ATTENDANCES

                                                                                                                                      Move from RFK
                                                                                                                                      Stadium to Audi
 NAME                           AUDI FIELD                                                                                                 Field

 LOCATION                  WASHINGTON, D.C.

 INAUGURATION                      2018
                                                                                21
                                                                                     19.8
                                                                         18.2                                                           17.9 17.6 17.7
 CAPACITY                         20'000
                                                                  16.7                      16.1                         17   16.2 17.1
                                                                                                   14.5 15.2 13.8 13.6

 SOCCER-SPECIFIC                   YES

                                                                  05 06 07 08 09 10 11 12 13 14 15 16 17 18 19
                                                                  Values in thousands

                                                                   30
31

PLAYER RECRUITMENT STRATEGY - 2020 SQUAD

Club-trained players                               Players recruited from North America                          Players recruited from abroad

Location of players' prior club (when not recruited from North America) and average age at the time of recruitment (by region of players' prior club)

                                                                         UEFA    25.7

         USA/CANADA                    28.2
         OTHER CONCACAF                24.5                                                                            AFC    29.8

          Two players
          One player

                                                              CONMEBOL          25.0

PLAYER SALARIES

                                                                                                                                            9.7           10.2

                                                                                                                     6.1
               4.9                                                                                                             5.3
                                                                   4.1          3.6         4           4.3
                               3.3          2.9         3.5
  2.3

   07          08              09           10          11         12           13         14           15           16         17            18          19

PLAYER STATISTICS

Minutes (as % of the total) played by foreign players                      Average ages per players' origin
(2015-2020)                                                                (calculations based on the total minutes played)

                                                                                                                              29,5
                                                                                                          29,1       29,1

                                                                                                                                                                 28,3
                                                                                                           28        28,1                          28
                                                                                                          27,8
                                                                                                                     27,5     27,6     27,6
                                                                                                                                                   27,3
                                     62,1    60,7      63,9                                                                   26,8
                                                                                                                                                                 27
                                                                                                                                       26,7

                                                                                                                                                   26,1
                                                                                TOTAL SQUAD
           33,3         30,8                                                    FOREIGN                                                25,1
                                                                                                                                                                 24,7
  18,3
                                                                                USA/CAN

   15       16          17           18       19        20                                                15          16      17       18          19            20
                                                                                                          15         16       17       18          19            20

                                                                                 31
Governance structures at national association level

  HOUSTON DYNAMO

  MLS ADMISSION                        MLS DEBUT                        ENTRY FEE
         2005                              2006                        USD 5m*
*The entry fee reflects the amount paid by the San Jose Clash to join the league in 1996. The franchise was relocated to Houston in 2005.

                                                                                                                                                                  CLUB
                         OWNERSHIP INFO & OWNERS' OTHER                                                                                                           HONORS
                         INVESTMENTS IN SPORTS TEAMS

  Since December 2015, the club's controlling owner is Gabriel Brener. The CEO of
                                                                                                                                                MLS CUP
  Brener International Group - an LA-based private investment firm - is one of just two
                                                                                                                                                2006, 2007
  Latino owners in American sports. He is joined at the helm of the club by boxing
  champion and Golden Boy Productions CEO Oscar De La Hoya, Stormlight Hol-
                                                                                                                                                US OPEN CUP
  dings chairman and CEO Jake Silverstein, White Deer Partners managing partner
                                                                                                                                                2018
  Ben Guill and NBA all-star James Harden. Harden's acquisition of a small stake in
  the club for USD 15 million in July 2019 reportedly placed the valuation of the fran-
                                                                                                                                                CONFERENCE
  chise and its stadium at USD 425 million.
                                                                                                                                                CHAMPIONS
                                                                                                                                                2006, 2007, 2011,2012
              SWANSEA CITY (ENG), HOUSTON DASH

                                STADIUM INFO & EVOLUTION OF AVERAGE ATTENDANCES

                                                                                                                               Move from Robertson
                                                                                                                                Stadium to BBVA
   NAME                                    BBVA STADIUM                                                                              Stadium

   LOCATION                             HOUSTON, TEXAS

   INAUGURATION                                   2012
                                                                                                                                            20,8 19,9 20,1 20,7
                                                                                                     18,9                                                         19
                                                                                                                         17    17,3 17,7                               17,5 16,9
                                                                                                            15,9 16,9                                                              15,7
   CAPACITY                                      22'000

   SOCCER-SPECIFIC                                YES

                                                                                               05
                                                                                                0 06 07 08 09 10 11 12 13 14 15 16 17 18 19
                                                                                             Values in thousands

                                                                                                32
33

PLAYER RECRUITMENT STRATEGY - 2020 SQUAD

Club-trained players                        Players recruited from North America                        Players recruited from abroad

Location of players' prior club (when not recruited from North America) and average age at the time of recruitment (by region of players' prior club)

                                                                          UEFA     24.7

         USA/CANADA                    27.4
         OTHER CONCACAF                25.2

          Two players
          One player

                                                               CONMEBOL          22.2

PLAYER SALARIES

                                                                                                                                                           8,7
                                                                                                                                             5,9
                                                                                            4,5          5,1          5,1        5
                                                         3,5        3,3          3,6
  2,4          2,5             2,6            2,6

   07          08              09              10        11         12           13         14           15           16         17            18          19

PLAYER STATISTICS

Minutes (as % of the total) played by foreign players                       Average ages per players' origin
(2015-2020)                                                                 (calculations based on the total minutes played)

                                                                                                                               30,3
                                                                                                                                        29,8
                                                                                                                                                    29,4
                                                                                                            29         29
                                                        80,1                                                          28,6     28,6
                                               73,1                                                                                                 28,2
                                                                                                                                                                 28,4
                        65,9                                                                               28,1                                                  28,1
                                     65,5                                                                              28               27,9        27,8
                                                                                                                               27,7

                                                                                 TOTAL SQUAD                                            26,9                     26,8
  39,4     39,9                                                                                            26,6
                                                                                 FOREIGN

                                                                                 USA/CAN

   15       16          17           18         19       20                                                15         16       17       18          19           20

                                                                                   33                      15         16       17       18          19           20
Governance structures at national association level

INTER MIAMI CF

 MLS ADMISSION                       MLS DEBUT                       ENTRY FEE
         2018                           2020                        USD 25m

                                                                                                                CLUB
                      OWNERSHIP INFO & OWNERS' OTHER                                                            HONORS
                      INVESTMENTS IN SPORTS TEAMS

In addition to David Beckham, who has been the driving force behind the creation
                                                                                                       ____
of the franchise, Inter Miami's ownership group currently comprises of other four
individuals. Marcelo Claure - a Bolivian-American tech entrepreneur - is the CEO
of SoftBank Group International and COO of SoftBank Group Corporation. The
Mas brothers - Jorge and Jose - are respectively chairman and CEO of MasTec, an
infrastructure engineering and construction company, with more than USD 7 billion
in revenue in 2019. Masayoshi Son - founder and CEO of SoftBank - was recently
named by Forbes the richest person in Japan with an estimated net worth of USD
45.4 billion.

            GIRONA CF (ESP), CLUB BOLIVAR (BOL), SALFORD CITY (ENG)

                             STADIUM INFO & EVOLUTION OF AVERAGE ATTENDANCES

 NAME                                 DRV PNK STADIUM

 LOCATION                     FORT LAUDERDALE, FLORIDA

 INAUGURATION                                  2020

 CAPACITY                                     18'000

 SOCCER-SPECIFIC                                YES

* The DRV PNK Stadium will serve as the club's temporary home venue until
completion of the proposed Freedom Park stadium.
                                                                                 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19

                                                                                 34
35

PLAYER RECRUITMENT STRATEGY - 2020 SQUAD

Club-trained players         Players recruited from North America                                                      Players recruited from abroad

Location of players' prior club (when not recruited from North America) and average age at the time of recruitment (by region of players' prior club)

                                                                   UEFA      29.8

         USA/CANADA                 28.3
         OTHER CONCACAF             27.2

          Two players
          One player

                                                         CONMEBOL         20.9

PLAYER SALARIES

                                 Data on player salaries currently available only until the 2019 MLS season

PLAYER STATISTICS

Minutes (as % of the total) played by foreign players                   Average ages per players' origin
(2020)                                                                  (calculations based on the total minutes played)

                                                                                                                                                        28,4

                                                                                                                                                        27,3

                                                                                                                                                        26,4

                                                 55,2
                                                                            TOTAL SQUAD

                                                                            FOREIGN

                                                                            USA/CAN

                                                                                                       15         16         17       18       19       20
 15        16           17     18        19       20

                                                                             35
Governance structures at national association level

LOS ANGELES FC

MLS ADMISSION              MLS DEBUT                  ENTRY FEE
      2014                    2018               USD 110m

                 OWNERSHIP INFO & OWNERS' OTHER                                                  CLUB
                 INVESTMENTS IN SPORTS TEAMS                                                     HONORS

With 31 owners listed as of March 2021, LAFC has possibly the largest and most
diverse ownership groups across the MLS. The three managing owners are Larry
Berg - the chairman of McGraw-Hill Education - Brandon Beck - a co-founder of          SUPPORTERS'
video game developer and e-sports tournament organizer Riot Games - and Ben-           SHIELD
nett Rosenthal - a co-founder of Ares Management LP and co-chairman of the Pri-        2019
vate Equity Group. LAFC's ownership group also includes famous sports persona-
lities such as soccer legend Mia Hamm, former professional baseball player Nomar
Garciaparra and NBA all-star Earvin 'Magic' Johnson. The franchise was valued at
more than USD 700 million in February 2020 when Vincent Tan - one of the original
investors in the club - sold half of his shares.

         QPR (ENG), ANGEL CITY                    LOS ANGELES DODGERS

         GOLDEN STATE WARRIORS, BROOKLYN NETS,
         LOS ANGELES SPARKS, NEW YORK LIBERTY

                      STADIUM INFO & EVOLUTION OF AVERAGE ATTENDANCES

   NAME                 BANC OF CALIFORNIA STADIUM

   LOCATION              LOS ANGELES, CALIFORNIA

   INAUGURATION                      2018                                                            22   22,2

   CAPACITY                         22'000

   SOCCER-SPECIFIC                   YES

                                                             05
                                                              0 06
                                                                 0 07
                                                                    0 08
                                                                       0 09
                                                                          0 10
                                                                             0 11
                                                                                0 12
                                                                                   0 13
                                                                                      0 14
                                                                                         0 15
                                                                                            0 16
                                                                                               0 17
                                                                                                  0 18 19
                                                             Values in thousands

                                                                     36
37

PLAYER RECRUITMENT STRATEGY - 2020 SQUAD

Club-trained players              Players recruited from North America                         Players recruited from abroad

Location of players' prior club (when not recruited from North America) and average age at the time of recruitment (by region of players' prior club)

                                                                   UEFA      28.4

         USA/CANADA               25.3
         OTHER CONCACAF              -

                                                                                      CAF       19.2

          Two players
          One player

                                                         CONMEBOL         22.7

PLAYER SALARIES

                                                                                                                                       14,1            13,8

                                                                                                                                           18          19

PLAYER STATISTICS

Minutes (as % of the total) played by foreign players                   Average ages per players' origin
(2018-2020)                                                             (calculations based on the total minutes played)

                                                                                                                                    28,9

                                                                                                                                    27,7        27,7          27,8

                                                  75,5
                                                                                                                                    26,5
                                                                                                                                                26,2
                                         58,4
                              52,1
                                                                            TOTAL SQUAD                                                         25,1          25,2

                                                                            FOREIGN                                                                           24,4

                                                                            USA/CAN

    0
   15        0
            16           0
                        17     18        19        20                                                  15         16       17       18          19            20

                                                                             37
Governance structures at national association level

LOS ANGELES GALAXY

 MLS ADMISSION             MLS DEBUT                  ENTRY FEE
      1994                    1996                    USD 5m

                                                                                                                                    CLUB
                                                                                                                                    HONORS
                 OWNERSHIP INFO & OWNERS' OTHER
                 INVESTMENTS IN SPORTS TEAMS
                                                                                                                  CONCACAF
                                                                                                                  CHAMPIONS CUP
Since 1998 the club is owned by Philip Anschutz and his Anschutz Entertainment                                    2000
Group (AEG) - the leading sports and live entertainment company in the world.
AEG played a crucial role in supporting the development of MLS. In 2006, it ope-                                  MLS CUP
rated as many as six out of the ten teams participating in the league. As part of its                             2002, 2005, 2011, 2012, 2014
investments in soccer, AEG also co-owns a majority stake in Hammarby IF (SWE)
together with former LA Galaxy star Zlatan Ibrahimovic.                                                           SUPPORTERS' SHIELD
                                                                                                                  1998, 2002, 2010,2011

                                                                                                                  US OPEN CUP
         HAMMARBY IF (SWE)                      LOS ANGELES LAKERS                                                2001, 2005

                                                                                                                  CONFERENCE
        LOS ANGELES KINGS, EISBÄREN BERLIN (GER),                                                                 CHAMPIONS
        DJURGÅRDENS (SWE)                                                                                         1996, 1999, 2002, 2005, 2009,
                                                                                                                  2011, 2012, 2014

                      STADIUM INFO & EVOLUTION OF AVERAGE ATTENDANCES

 NAME                 DIGNITY HEALTH SPORTS PARK

 LOCATION                 CARSON, CALIFORNIA
                                                                                        26                                          25,1
                                                                  24,2          24,3                     23,3 23,1 22,2      23,4                 24,4
                                                                                                                                           22,2          23,2
 INAUGURATION                      2003                                  20,8                20,4 21,4                  21,3

 CAPACITY                         27'000

 SOCCER-SPECIFIC                   YES
                                                                  05 06 07 08 09 10 11 12 13 14 15 16 17 18 19
                                                                  Values in thousands

                                                                   38
39

PLAYER RECRUITMENT STRATEGY - 2020 SQUAD

Club-trained players                          Players recruited from North America                Players recruited from abroad

Location of players' prior club (when not recruited from North America) and average age at the time of recruitment (by region of players' prior club)

                                                                       UEFA    26.0

         USA/CANADA                    26.5
         OTHER CONCACAF                23.9

          Two players
          One player

                                                            CONMEBOL          23.6

PLAYER SALARIES

                                                                                                     21,3
                                                                                                                                                      19,6
                                                                                                                  18,1                 17,5
                                                     14,7
                                                                12,7                    13,2
                                                                                                                            12,1
                                            11
  9,3          9,2             9,8                                            9,9

   07          08              09           10        11         12           13         14           15           16        17           18          19

PLAYER STATISTICS

Minutes (as % of the total) played by foreign players                    Average ages per players' origin
(2015-2020)                                                              (calculations based on the total minutes played)

                                                                                                                   30,8             30,7
                                                                                                        30,4

                                                                                                                   29,3             29,3

                                                                                                        28,7
                                                                                                                            28,3
  54,8                  55,3         57,8   58,2                                                                                               28,2
                                                                                                                                                28            28
                                                                                                                                               27,9
           51,5                                                                                                    27,6                                      27,6
                                                     41,1                     TOTAL SQUAD                                   27,3    27,3                     27,3

                                                                                                        26,7
                                                                              FOREIGN
                                                                                                                            26,1
                                                                              USA/CAN

   15       16          17           18       19      20                                                 15         16      17       18        19            20

                                                                               39
                                                                                                         15         16      17       18        19            20
Governance structures at national association level

MINNESOTA UNITED FC

 MLS ADMISSION                          MLS DEBUT                          ENTRY FEE
         2015                               2017                        USD 100m

                                                                                                                                   CLUB
                        OWNERSHIP INFO & OWNERS' OTHER                                                                             HONORS
                        INVESTMENTS IN SPORTS TEAMS

The club is controlled by a local ownership group led by Dr. Bill McGuire - a for-
mer CEO of UnitedHealth Group and already owner of NASL's Minnesota United                                                ___
since 2012. McGuire is joined in the MLS project by a group of investors. Amongst
others, these reportedly include Robert and Jim Pohlad - members of a family that
owns more than 30 diverse Minneapolis-based businesses and owners of MLB's
Minnesota Twins, Glen Taylor - owner of the Star Tribune newspaper - and Wendy
Nelson - chair of the Carlson Family Foundation.

             MINNESOTA TWINS                                        BOSTON BRUINS

             MINNESOTA TIMBERWOLVES*, MINNESOTA LYNX

* As of April 2021, Glen Taylor is reportedly in advanced talks to sell his majority share in the
Minnesota Timberwolves

                                STADIUM INFO & EVOLUTION OF AVERAGE ATTENDANCES

                                                                                                                                          Move from TCF
                                                                                                                                          Bank Stadium to
 NAME                                       ALLIANZ FIELD                                                                                   Allianz Field

 LOCATION                          SAINT PAUL, MINNESOTA

 INAUGURATION                                      2019                                                                                       23,9
                                                                                                                                       20,5          19,7
 CAPACITY                                         19'400

 SOCCER-SPECIFIC                                    YES

                                                                                                    05
                                                                                                     0 06
                                                                                                        0 07
                                                                                                           0 08
                                                                                                              0 09
                                                                                                                 0 10
                                                                                                                    0 11
                                                                                                                       0 12
                                                                                                                          0 13
                                                                                                                             0 14
                                                                                                                                0 15
                                                                                                                                   0 16
                                                                                                                                      0 17 18 19
                                                                                                    Values in thousands

                                                                                                    40
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