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MLS and private equity firm KKR have agreed to establish a joint venture that will centrally control the commercial rights for most teams in the MLS Next Pro development league. The concept has been in development since early 2024 and received final approval from MLS owners following more in-depth discussion and refinement over the past several months.

The new company, Hometown Soccer Holdings, plans to move Next Pro teams that are affiliated with MLS clubs to nearby mid-sized markets, where the firm will facilitate the construction of multipurpose stadiums with roughly 6,000-8,000 seats. HSH will oversee venue operations, branding, ticketing, sponsorship, merchandising, finance and other business functions for all teams involved.

MLS clubs will have the option of whether to turn over business operations of their development teams to the joint venture or to retain those rights, with most expected to opt in. Those that do will retain control of soccer operations for their Next Pro teams, including coaching, player development, contracts and travel.