Tuesday briefing: MLS club Sporting Kansas City valued at $700 million after selling majority stake

MLS franchise Sporting Kansas City have agreed to sell a majority stake that values the club at around $700 million, according to Forbes.

If that figure is accurate, this takeover would be the most lucrative in the history of MLS.

According to local publication, The Kansas City Star, the takeover will see financial adviser and lawyer Peter Mallouk acquire an 80 per cent share in Sporting KC, and will now oversee day-to-day running of the club.

Mallouk, who is the CEO of C